Managing Engineering and Technology Study Set 1

Business

Quiz 14 :

Project Planning and Acquisition

Quiz 14 :

Project Planning and Acquisition

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A project manager observes that she had a budgeted expenditure of $450,000 by a specific date and had only spent $425,000 by then. What should she conclude?
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Findings:
• First that the project is completed in a more efficient manner than originally planned, fewer resources are being used, and the project is on schedule (or even ahead of schedule).
• The second conclusion is that the project is behind schedule and that the reason for the lesser amount of expenditures are that not enough work has been done to use up the entire $450,000 that were budgeted for that point in time.

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For a project-driven organization with which you are familiar, describe the approach used in advance of RFPs or bid requests to maintain competitiveness in being able to respond to them.
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Proposal preparation:
Company X is a consulting company that helps manufacturing companies to set up their assembly lines and quality control processes for high technology products.
When the company receives a request for work, the tasks are first evaluated by the VP of Engineering to determine whether it is something within the company's area of expertise. If the VP of Engineering accepts the task, then a member of the finance department in conjunction with two members of the engineering team prepare a proposal for the cost of carrying out the task. This task also includes a cover letter, a statement of work, specification of the length, and stack of standard clauses.
Once this is done, the company sends the estimate to the party requesting the proposal. Once the party accepts, then the engineering team begins working on how to best execute the task described in the proposal. This type of approach is called as proposal preparation.

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The following project carries a penalty cost of $200/day ($1,400/week) for any delay in completion beyond 26 weeks. Any task can be accelerated by up to three weeks at a cost of $1,000 per week reduction. Draw an arrow diagram, identify the critical path and duration, and determine which task(s), if any, you will crash, and by how much, to minimize project cost. img
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The following is an arrow diagram of the project.
img The critical path for the project is V-Y and the duration of this path is 31 weeks.
The lowest cost duration for the project will be 30 weeks, with a additional project cost of $6,600. To achieve this cost, activity V should be reduced by one week by paying $1,000, and the company should pay a penalty for four weeks late, which corresponds to $5,600.

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Discuss how the management functions of planning, organizing, leading, and controlling relate to the project process.
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Tasks X , Y , and Z must be completed in series to complete a project. The three time estimates ( a , m , and b ) for each task in days are X : 30, 45, and 66 days; Y : 24, 42, and 60 days; and Z : 26, 50, and 68 days. For each task, calculate ( a ) the expected time t e and ( b ) the standard deviation s. What is the ( c ) expected time T e and ( d ) the standard deviation sT for the completeproject?
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What would be some of the difficulties faced during the actual proposal preparation process, and how can they be minimized?
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For the project outlined on the following table, ( a ) draw a network diagram (arrow or PDM, as you prefer), and ( b ) identify the critical path and duration. ( c ) Identify the task(s) you would crash and the incremental cost to reduce project duration by ( i ) one week; ( ii ) a second week; ( iii ) a third week. img
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For the project outlined in the following table, prepare ( a ) a bar chart, ( b ) an arrow network diagram, and ( c ) a PDM diagram. ( d ) What and how long is the critical path? img
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For the project outlined in the following table, prepare ( a ) a bar chart, ( b ) an arrow network diagram, and ( c ) PDM network diagram. ( d ) What and how long is the critical path? img
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Which of the following would be considered a project: ( a ) construction of a hydroelectric dam; ( b ) operation of a nuclear reactor; ( c ) development of an engine for the B-2 bomber through the first production prototype; ( d ) a production order for an additional 20 F-15 aircraft?
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For the project in Question 14-4, ( a ) provide a worker-level profile, assuming that all tasks begin as early as possible; ( b ) repeat the profile, assuming that no more than nine people are available in any week and the manning level for a task cannot change; and ( c ) identify the project duration in each case.
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Establish tasks, times, and precedence relationships for the project selected in Question 14-1, and draw ( a ) a bar chart and ( b ) a network diagram schedule for it.
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If a project has an expected time of completion T e of 45 weeks with a standard deviation sT of 7 weeks, what is the probability of completing it ( a ) within one year (52 weeks)? ( b ) within 38 weeks?
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Prepare ( i ) a milestone schedule and ( ii ) a work breakdown structure for one of the following: ( a ) construction of a steel and concrete highway bridge, or ( b ) movement of the printing department of a daily newspaper from one building to another (assuming two identical presses, with one press continuously available for use).
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Tasks A , B , and C must be completed in series to complete a project. The three time estimates ( a , m , and b ) for each task in weeks are A : 8, 11, and 14 weeks; B : 7, 10, and 19 weeks; and C : 10, 19, and 22 weeks. For each task, calculate ( a ) the expected time t e and ( b ) the standard deviation s. What is the ( c ) expected time T e and ( d ) the standard deviation sT for the complete project? What is the probability of completing the project in ( e ) 40 weeks? ( f ) 46 weeks?
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