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You have signed a contract to build a garage for the Simpsons. You will receive a $500 bonus for completing the project within 15 working days. The contract also contains a penalty clause in which you will lose $100 for each day the project takes longer than 15 working days. Draw a project network given the information below. Complete the forward and backward pass, compute the activity slack, and identify the critical path. Do you expect to receive a bonus or a penalty on this project?
ID| Description | Predecessor | Time/DaysA | Pour Foundation | None | 3B | Erect frame | A | 4C | Roof | B | 4D | Windows | B | 1E | Doors | B | 1F | Electrical | B | 3G | Rough-in frame | C,D,E,F | 2H | Door Opener | E, F | 1I | Paint | G,H | 2J | Clean up | I | 1
As project manager, what would you do to estimate a project's time and costs when there are so many unknowns?
Draw the total cost lines for the three options.
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Explain the importance of incorporating a budget into a project schedule.
Explain why each of these factors is the driving force behind economic success.
Determine which factor is influencing the team dynamics and why.
Why is risk management an important aspect of project management?
Discuss: What are the pros and cons of employing the 9-step problem-solving model in daily life and in business situations?
The data for a Time-Cost CPM Scheduling model analysis are given below. The times are in days. What is the minimum cost to complete this project in 14 days?
How does the new duration compare with the estimated completion date generated from Part 1? What does this tell you about the impact resources can have on a schedule?
How can project managers facilitate procurement?
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