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DT Assignment – Group Assignment II
Question1: Project Management
- The RELIABLE CONSTRUCTION COMPANY has just made the winning bid of $5.4 million to construct a new plant for a major manufacturer. The manufacturer needs the plant to go into operation within a year. Therefore, the contract includes the following provisions:
- A penalty of $300,000 if Reliable has not completed construction by the deadline 47 weeks from now.
- To provide additional incentive for speedy construction, a bonus of $150,000 will be paid to Reliable if the plant is completed within 40 weeks.
Reliable is assigning its best construction manager to this project to help ensure that it stays on schedule. The project manager looks forward to the challenge of bringing the project in on schedule, and perhaps even finishing early. However, since he is doubtful that it will be feasible to finish within 40 weeks without incurring excessive costs, he has decided to focus his initial planning on meeting the deadline of 47 weeks. The following tables show the list of the various activities and cost related information.
Table 1. Activity related information
| Activity | Activity description | Immediate Predecessor | Estimated duration in weeks |
| A | Evacuate | – | 2 |
| B | Lay the foundation | A | 4 |
| C | Put up the rough wall | B | 10 |
| D | Put up the roof | C | 6 |
| E | Install the exterior plumbing | C | 4 |
| F | Install the interior plumbing | E | 5 |
| G | Put up the exterior sliding | D | 7 |
| H | Do the exterior painting | E,G | 9 |
| I | Do the electric work | C | 7 |
| J | Put up the wallboard | F,I | 8 |
| K | Install the flooring | J | 4 |
| L | Do the interior painting | J | 5 |
| M | Install the exterior fixtures | H | 2 |
| N | Install the interior fixtures | K,L | 6 |
Given all the information in the two tables above and other information, answer the following questions.
- Draw Network Diagram using AOA (Activity on ARROW ) convention.
- What is expected project duration and Identify critical activities?
- Which are the critical bottleneck activities where any delays must be avoided to prevent delaying project completion?
- For the other activities, how much delay can be tolerated without delaying project completion?
- Given the uncertainties in accurately estimating activity durations, what is the probability of completing the project by the deadline?
- Prepare the project crashing Schedule
- Do you think Reliable enjoy the incentive or bear the penalty? Why?
Question2
Discuss on Inventory models (both dependent and independent) and support the models with examples.
Question 3
Let’s say xyz cpny is considering investing in several projects that have varying capital requirements over the next four years. Faced with limited capital each year, management would like to select the most profitable projects. The estimated net present value for each project, the capital requirements, and the available capital over the four-year period are shown in Table below.
| Project Selection | |||||
| Plant
Expansion |
Warehouse
Expansion |
New
Machinery |
New Product
Research |
Total Capital
Available |
|
| Present Value | $80,000 | $45,000 | $15,000 | $35,000 | |
| Year 1 Cap Rqmt | $15,000 | $10,000 | $10,000 | $15,000 | $45,000 |
| Year 2 Cap Rqmt | $20,000 | $15,000 | – | $10,000 | $50,000 |
| Year 3 Cap Rqmt | $20,000 | $20,000 | $10,000 | $35,000 | |
| Year 4 Cap Rqmt | $15,000 | $ 5,000 | $ 4,000 | $10,000 | $45,000 |
- Formulate the model
- Determine which project should be selected using branch and bound method
Question 4
Discuss about simulation models and situations in which they could be applicable. Discuss also about Monte Carlo Model of Simulation Models.
Question 5
Discuss about major project risks and how they could be mitigated? Take any project that you might know locally or internationally which has suffered from risks which you mentioned above and how?
