Scenario: You are a consultant with expertise in project management strategies.
ID: 355028 • Letter: S
Question
Scenario: You are a consultant with expertise in project management strategies. Select a possible project management situation from your current or future professional experience. As a project management consultant, you are tasked with developing a project management plan for this project. Your goal is to maximize the time, resources, and finances associated with the project in the best interests of the business/company. You will need to write a professional memo to the business/company owner describing the management of the project.
Your professional memo should include the following:
Tasks
Optimistic
Average
Pessimistic
Predecessor
A-Select new textbook
4
6
10
B-Create unit Assignments
5
8
12
A
C-Select Topics for units
1
2
3
A
D-Set up gradebook
1
2
3
B
E-Review Content
2
4
6
B
All activities with slack time = 0 are on the critical path:
A – Select new textbook, B – Create unit assignments, E - Review content
Results
Activity
Early Start
Early Finish
Late Start
Late Finish
Slack
A
0
6.333333
0
6.333333
0
B
6.333333
14.5
6.333333
14.5
0
C
6.333333
8.333333
16.5
18.5
10.16667
D
14.5
16.5
16.5
18.5
2
E
14.5
18.5
14.5
18.5
0
Project
18.5
Address the following questions in your professional memo: by using the DATA given Above.
1. What is the overall timeline for this project?
2. What activities are critical for the established timeline of the project?
3. What activities have flexibility in completion that would not impact the overall project timeline?
4. What time, resources, and money might be affected by any changes to activities throughout the project?
5. What recommendations would you suggest to prioritize the company’s time, resources, and money with regards to the project?
Please Answer this ASAP.
Thanks
Tasks
Optimistic
Average
Pessimistic
Predecessor
A-Select new textbook
4
6
10
B-Create unit Assignments
5
8
12
A
C-Select Topics for units
1
2
3
A
D-Set up gradebook
1
2
3
B
E-Review Content
2
4
6
B
5. Create a Gantt chart to show the project timeline. Answer: Gantt Chart 10 15 20 Time Critical Activity Noncritical Activity SlackExplanation / Answer
(1)
The overall timeline of the project is 18.5 days because both the Early Finish and Late Finish converges finally to this value.
(2)
The activities which are having zero slack values are the critical activities. Therefore activity A, B, and E are the critical activities.
(3)
Activites other than A, B, and E i.e. activity C and D are having positive slacks. This indicates that these activities are having potential slacks to be shifted. For example, the activity C can earliest be started in 6.33 days and can be delayed up to 16.5 days before affecting the project completion estimate. Similarly, the activity D can earliest be started in 14.5 days and can be delayed up to 16.5 days before affecting the project completion estimate.
(4)
If we are ready to invest more in some of these activities, then the project duration can be 'crashed' i.e. reduced. The direct cost of the project activities has to be increased in that case. In other words, we need to invest more of labor hours or more capital to crash the activities. This cost will generally be increasing at a linear rate with the project crash time. Therefore, this is the direct cost. At the expense of the direct cost, we will be able to save the indirect costs (e.g. overheads) by completing the project early.
(5)
The company should invest its resources in the critical activities i.e. in A, B, and E and not on the other two non-critical activities since investing more in critical activities will keep control in the entire project as the critical path is the bottleneck for the entire project.
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