Finding lowest project cost if completion time reduced

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Reference no: EM1335630

A. Henry Morgan is interested in analyzing one particular job that his company has bid on. It is essentially an assembly job with some machine work as well. His foreman has told Mr. Morgan that the whole job can best be analyzed by breaking it down into a total of 11 activities, not counting the Start and Stop nodes. The foreman has also developed estimates of the time to accomplish each and has identified the precedence relationships (if any) among the activities. This information is summarized in the table below (see attachment).

a) Draw the project network using the AON approach. (Make sure to include the names of the nodes and their activity times).

b) Identify the critical path(s).

c) What is the time until completion?

d) Which activities have slack time-how much is in each? (Show your work)

B. The diagram below (see attachment) represents a PERT chart with seven nodes. The normal time (in days) to complete each task is given by the numbers above each node. Suppose that the cost to do each task in the normal amount of time is as follows: $1900 for tasks A, B, and D and $1700 for tasks C, E, F and G.

The table shows both the maximum number of days that it is possible to reduce the
normal time to complete each task and the additional cost per day over and above the normal costs to reduce the time for each task.

a) What is the cost to do the project at the normal speed?

b) Find the lowest project cost if the completion time must be reduced by 1 day?

c) Find the lowest project cost if the completion time must be reduced by 3 days.

Reference no: EM1335630

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