Solution-Explain why project management is a useful tool

Explain why project management is a useful tool for managers

Assignment Help Project Management

Reference no: EM13126361

Gardener Ltd are considering building a new factory in Leicester. Seven tasks must be performed build the new factory and estimates of the duration for each task are shown below along with the precedence relationships for these tasks.

TASK	Optimistic Estimate (days)	Most Likely Estimate (days)	Pessimistic estimate (days)	Immediate predecessors
A	4	8	10	-
B	1	3	4	-
C	3	7	10	A
D	1	7	13	A
E	1	3	5	B,D
F	7	8	10	E
G	6	7	10	C

Gardener Ltd will receive a subsidy of £500,000 if it is completed in the next 22 days.

(a) Explain why project management is a useful tool for managers

(b) Draw the network diagram for this project and identify the critical path

(d) Calculate the probability of completing the project within 22 days, stating any assumptions that you make?

(e) What action could be taken to improve the chances of completion within 22 days?

Reference no: EM13126361

Questions Cloud

Prepare the journal entries to record the deferred : Management has determined that they should record a valuation allowance equal to the net deferred tax asset. Assuming a tax rate of 34%, prepare the journal entries to record the deferred tax provision and the valuation allowance.

Accrued bond interest and the amortization : On January 1, Hurley Corporation issues $2,000,000, 5-year, 12% bonds at 96 with interest payable on July 1 and January 1. The entry on December 31 to record accrued bond interest and the amortization of bond discount using the straight-line metho..

Find probability that mean contents of a six-pack are less : If the contents in the population of all cans follow a normal distribution, what is the probability that the mean contents of a six-pack are less than 12 oz?

Illustrate what is impact of this transaction on net open : XYZ Company accepted a national credit card for a $5,000 purchase. The cost of the goods sold is $4,000. The credit card company charges a 3% fee. Illustrate what is the impact of this transaction on net operating income?

Explain why project management is a useful tool for managers : Explain why project management is a useful tool for managers and draw the network diagram for this project and identify the critical path

Explain what are its electron-pair and molecular geometries : Draw the Lewis structure for C1F 2 + (small s at bottom and small + at top) What are its electron-pair and molecular geometries? decribe the bonding in the molecule in terms of hybrid orbitals.

Sequential counting principle : An airline has 15 flights from city A to city B and eight flights from city B to city C. In how many ways can you fly from city A to city B.

Illustrate what is capital structure of smith : Illustrate what is the capital structure of Smith immediately prior to the acquisition. Determine the amount and account to be recorded for Nichols' investment in Smith.

Working with permutations and combinations : How many bit strings of length 7 are there? Explain. How many bit strings of length 7 are there which begin with a 0 and end with a 1? Explain. How many bit strings of length 7 is there that contain an even number of ones? Explain.

User Account

All Pages

Explain why project management is a useful tool for managers

Reference no: EM13126361

Reference no: EM13126361

Questions Cloud

Reviews

Write a Review

Project Management Questions & Answers

Create a project schedule and align resources

Managerial roles and gap analysis

Questionaire on project management

Describe the market growth rate for product

Prepare a work plan and project schedule - gantt chart

Project risk management approach

Black-scholes options pricing model

Describe the features or characteristics of product

Write paper on inventory management system

Analysis of the overall project risk

Investment and performance analysis

Distribution strategy and project management

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT