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MM305 UNIT 9 Project: Project Analysis and Forecasting: Application of Decision Models, Statistical Methods, and Optimization Techniques

Application of decision models and statistical methods in project forecasting.

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MM305 UNIT 9 PROJECT1MM305 UNIT 9 Project:Project Analysis and Forecasting: Applicationof Decision Models, Statistical Methods, and Optimization TechniquesName:Directions:•In this project you will be using theStates Datafile that is found in DocSharingunder the Instructor-Graded Projects:•Steps for accessing theStates Datafile:1.Open your Excel with PhStat22.Click File—Open3.Select theStates Datafile•Not all questions require the use of technology or theStates Datefile.•You may insert your answers, including any charts, graphs, or output, on thisdocument.•Be sure to put your name on this document and save it to your computer.1. AllenMachines specializes in developing weed-harvesting equipment that is used to clearsmall lakes of weeds.AllenMachines is contemplating the construction of a machine thatwould harvest weeds on narrow rivers and waterways. The activities and time in weeksnecessary to build one of these experimental machines are shown in the table below.ActivityImmediate PredecessorsTime in WeeksAnone6Bnone5CA3DA2EB4FB6GC,E10HD,F71.What is the minimum possible timerequired for completing the project?19weeks.This is the minimum time needed for completing the longest path in project-ACG or BEG, i.e. 6+3+10 or 5+4+10. Kindly refer to the chart included here:

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MM305 UNIT 9 PROJECT22.What is the latest possible time that ActivityDmay be started withoutdelaying the completion of the project?10weeks; Since D is a predecessor for the activity H which takes a 7 weeks and sinceD takes 2 weeks. If D starts at the most after 10 weeks, then it will be completed after12 weeks after which F will start lasting for 7 weeks and will be completed after 19weeks which will ensure that the project is stillcompleted within the minimum duration3.What is the latest finish time for ActivityF?12 weeks; Since F is the predecessor for Hwhich takes 7 weeks, F can finish at themost by 19-7=12 weeks. This will ensure the project completes within the minimumduration4.What is/arethe critical path(s)?A-C-Gand B-E-G are the paths thattake the maximum amount of time, these are thecritical paths.

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MM305 UNIT 9 PROJECT32.The following is the activity and associated costs for the renovation of the local high schoolfootball stadium. The times are in weeks.ActivityImmediate PredecessorTimeCost($)A-425,000B-530,000CA315,000DB850,000EB212,000FC, D315,000GC, D746,000HE, F220,0001.What is the critical path for this project?B-D-G, since this pathis the one which takes the maximum amount of time andhence determines the fate of the project. Kindly refer to the figure below.2.How much of the total budget would be spent in Week 8 (Period 8) withthe earliest start budget?In the 8thweek, only the activities D and E can run. The activities F,G, and H needpredecessors which are yet to complete during the 8thweek. The activity E has abudget of 12,000$ and is spread over 2 weeks. Thus the budget spent during the 8thweek would be 12,000$/2=6,000$. Similarly, the activity D has a budget of 50,000$and is spread over 8 weeks. Thus the budget spent during the 8thweek would be50,000$/8= 6,250$. Thus the budget spent during 8thweek is 6,000$ + 6,250 $=12,250 $.3.Precision Manufacturing has a government contract to produce stainless steel rods for use inmilitary aircraft. Each rod is required to be 20 millimeters in diameter. Each hour, randomsamples of size n = 4 rods are measured to check process control. Five hours ofobservations yielded the following:

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MM305 UNIT 9 PROJECT4DiameterTimeRod 1Rod 2Rod 3Rod 49 A.M.19.820.419.920.310 A.M.20.120.219.919.811 A.M.19.920.520.320.1Noon19.719.820.320.21 P.M.19.720.119.919.91.Constructthexbar-chartand theR-chart.TimeRod 1Rod 2Rod 3Rod 4SampleMeansSampleRange9:00AM19.820.419.920.320.10.610:00AM20.120.219.919.8200.411:00AM19.920.520.320.120.20.6Noon19.719.820.320.2200.61:00PM19.720.119.919.919.90.4Control chart formula:X-barn is the number of observationsk is the number of subgroupsUpper control limit:Lower control limit:Rangek is the number of subgroups.Upper control limit:Lower control limit:
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Document Details

University
Kaplan University School of Business and Management
Course
MM 305
Subject
Business Management

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