You are looking to buy a component (Component A) for your project and have the option...

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You are looking to buy a component (Component A) for your project and have the option of buying either an Australian-made version or one from overseas. The Australian-made component costs $800 (delivered), and the company promises that you should receive it within 2 days of the order being placed. The overseas-made component costs $500 but will take 7 days to arrive. You may assume that the expected delivery times are 100% reliable. In the current state of your project, you have the following tasks remaining. # Task 1 Order Component A 2 Design and manufacture enclosure for Component A 3 Design and manufacture Component B 4 Test Component B 5 Receive and test Component A 6 Fit Component A to enclosure 7 Construct prototype 8 Test prototype Predecessors None None None 3 1 2,5 4,6 7 Table 2: List of tasks remaining and their characteristics Estimated Crash Crash time time (days) cost saved 0 0 4 40 7 120 2 75 2 100 1 50 4 75 10 150 0 1 2 0.5 1 0.5 1 3 You can crash most of these tasks to some degree, with the estimated time savings and costs of crashing listed in Table 2. Your project is required to finish in 23 days. If it runs overtime, a penalty of $500 per day will need to be paid. You may assume that there is a chance (approximately 20%) that any task will run overtime by 1 day, and approximately 20% that it will run under time by one day. There is a 60% chance for each task that it will run on time. Each task's timeliness can be assumed to be independent of the others. Use Table 1 to answer the following questions (a) Use Project Libre or similar software, create Gantt charts for each of the two situations (overseas vs local purchase). (b) List the tasks that make up the current critical paths for the remaining part of the project, for each of the two different situations. Give the estimated times for each critical path. (c) Estimate the probability that the project will run overtime for each pathway. (d) Which version of Component A would you buy? How would you recommend managing the remainder of the project? Justify your decisions. You are looking to buy a component (Component A) for your project and have the option of buying either an Australian-made version or one from overseas. The Australian-made component costs $800 (delivered), and the company promises that you should receive it within 2 days of the order being placed. The overseas-made component costs $500 but will take 7 days to arrive. You may assume that the expected delivery times are 100% reliable. In the current state of your project, you have the following tasks remaining. # Task 1 Order Component A 2 Design and manufacture enclosure for Component A 3 Design and manufacture Component B 4 Test Component B 5 Receive and test Component A 6 Fit Component A to enclosure 7 Construct prototype 8 Test prototype Predecessors None None None 3 1 2,5 4,6 7 Table 2: List of tasks remaining and their characteristics Estimated Crash Crash time time (days) cost saved 0 0 4 40 7 120 2 75 2 100 1 50 4 75 10 150 0 1 2 0.5 1 0.5 1 3 You can crash most of these tasks to some degree, with the estimated time savings and costs of crashing listed in Table 2. Your project is required to finish in 23 days. If it runs overtime, a penalty of $500 per day will need to be paid. You may assume that there is a chance (approximately 20%) that any task will run overtime by 1 day, and approximately 20% that it will run under time by one day. There is a 60% chance for each task that it will run on time. Each task's timeliness can be assumed to be independent of the others. Use Table 1 to answer the following questions (a) Use Project Libre or similar software, create Gantt charts for each of the two situations (overseas vs local purchase). (b) List the tasks that make up the current critical paths for the remaining part of the project, for each of the two different situations. Give the estimated times for each critical path. (c) Estimate the probability that the project will run overtime for each pathway. (d) Which version of Component A would you buy? How would you recommend managing the remainder of the project? Justify your decisions.

Answer rating: 100% (QA)

To answer the questions I would need access to Table 1 and the ability to create Gantt charts As an AI textbased model I am unable to directly access ... View the full answer