Project Management Theory And Practice 1st Edition Gary L Richardson - Solutions

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We obtain the following two years of demand data:n 12 34 5 67 8 9 10 11 12 2. 1 3 5 6 5 7 5 3 2 4 3 3 22 2 1 3 5 6 8 7 5 4 2 4 2(a) Derive the auto-correlation coefficient for + = 1, 2, and 3.(b) Compare the result above when + = 1 with the use of information theory and digram transitions.
Show that:H(z y)R-1 HO)1-H()Discuss the use of this relationship.
Using the delay formulas:P(z) = D(z)z *** /(1 + z *** - z)and S(z) = D(z)/(1 + 2 ** 1 - z)determine the effect of a two-period delay; i.e ., k = 2. Comment on your results.
Simulate the alternative flow pattern in Fig. 9-12 (i.e ., A -> B -> C -> D+ E->(W -> A). What is the effect of transmission through the addi-tional linkages ? What steps might be taken to improve regulation ?
Determine the response of the regulator P-model to a sinusoidal input by means of simulation.
Derive the k = 10, Erlang service distribution and then convert the cumulative distribution to the appropriate density function. Comment on the relationship of the shape you have derived to the various data-processing steps which are likely to be encountered in practice.
We will change the conditions stated in 2. Only { of the employee's salary of $8000 is allocated to the processing of towels inventories. What should be done for both types of distributions ?
The towels discussed in the example above constitute { of the hotel's inventory data-processing load. One man whose salary is $8000 per year handles this load. Is there a more efficient ordering policy that can be followed? (Give your answers for both the constant demand and the horizontal
The demand for paper towels in an hotel is approximately 2000 rolls per day. The towels are issued from the stockroom in lots of 10. The hotel is weighing the advantages of perpetual inventory control as compared to periodic reordering on a fixed cycle. It is determined that each issue transaction
Work out the results that would be obtained if plan 5 (as presented in Section 69 were to be used.
Draw a flow diagram for the simulation of an Ss model (see text, page 115-116).
How will the queuing model fare ?
Feed the demands generated above into a properly designed Q-model and P-model. Comment on the comparative results obtained by simulation.The following data apply:c = $14 per item.₾ =, 10.C, = $5 per order.L.T. = 1 month.C. = . 02 per month.
Design a demand generator to simulate a horizontal distribution and a triangular distribution whose upper and lower bounds are 100 and 40 units per month. Using the same random number sequence (which appears below) for both distributions, generate a sample of 25 demand values for cach type of
Construct a master block flow diagram for the materials management function. Describe as many components as you can. Then, on the basis of the master, segment and expand components-such as purchasing and inventory management-by detailing their flow and decision systems.
In the text, a dynamic programming matrix was developed and set forth.Two items were involved, PI and P2. The objective was to minimize the total cost, TC, of these two items, subject to a budgetary restriction.Extend this example to three items as follows:C.C, P$2.00.10$4 10 Pa 5.00 10 416
Compare the ruin probability of two companies equivalent in every way except that one company insists on the criterion for undertaking an inventory study that C. = . 30, while the other sets C. = 05 as their basis. Comment.
An evaluation study is being undertaken prior to embarking on a full-scale inventory study. An a-b-c division of items is used and the first sample of items results in the following observed frequencies.a = 40 items, b = 20 items, c = 40 items We require an accuracy of +.05 with a confidence level
Compare the reserve stock savings for two items, both normally distributed with mean of 40 and standard deviation of 5. The protection level for item A has been overestimated by the same amount that the protection level for item B has been underestimated, namely, . 025. Other data are as
Our company wishes to investigate how many items should be studied before embarking on an inventory program. Each item is to be treated individually. The relevant data are as follows:N = total number of items stocked = 625 items, E = fixed study costs = $2000, Po = cost of estimating demand
If estimation errors of + 20%, - 30%, and + 50% are made in the forecast of demand, ordering cost, and carrying cost, . respectively, what distortion could be introduced in the estimate of average price in order to balance the errors with respect to the total variable costs ? Is the result
How do economies of scale affect the likelihood of small and large companies undertaking inventory studies? How does this affect companies with subsidiaries?
Three executives at a meeting discuss their individual criteria for accepting a contemplated inventory study. The first requires that &/(x) + x2) ≥ .20.The second indicates his preference for ups/(X1 + PsX2) ≥ 1.00. The third executive refuses to accept either basis and offers his choice,
Determine the optimal P-system for the item of Problem 1. Parts (a) (g)of this problem correspond to the same parts of Problem 1.
An item has average demand of 100 units per week and standard deviation of demand equal to 10. Order cost is $10 and carrying cost is 12% per year. The price of the item is $6. Assume a fixed understock cost of $100.The lead time is three weeks.(a) Use the Tchebycheff inequality and the approximate
An item has a six-month selling period with the following probability distributions of selling prices in each month:MONTH PRICE 12 34 56 512 15 10 05.05 05.15.15.10.10.25 25 15.35 10 10 30.30-05 10.20.25.20 25 16.10.15.15.20 1.10.10 17-15.20 10 15.05.01 18 25 15 10 00 What is the optimal selling
(a) An item has the demand distribution of Problem 1. Assume that an order placed on the first day of one week is delivered in time for sale on the first day of the following week. The item is reviewed on the first day of each week and an order is placed the same day according to the following
(a) For the item of Problem 2, use the approximate method of analysis to find the optimal P-system for the item, Make the assumption that the reserve stock is carried continuously in calculating carrying costs.(b) What is the total cost for this system ?(c) Use the exact method of analysis to find
(a) Weekly demand for an item is normally distributed with mean equal to 100 and standard deviation equal to 8. Ordering cost is $10 and carrying cost is 129% per year. The price per item is $12. There is a two-week lag between order and delivery. Assume there is a fixed understock cost of$200.
You are given the demand distribution for one week:DEMAND PROBABILITY 01 21 What is the demand distribution for four weeks?
A company maintains inventory on three items with the following characteristics:ITEM YEARLY DEMAND PRICE 13600$20 224000 53 600 25 Current policy is to order each item once each month.(a) What is the optimal ordering policy which gives the same total number of orders?(b) What is the optimal
For a particular item there is a known seasonal pattern of demand:MONTH DEMAND 150 270 3120 480 560 640 730 850 990 10 140 11 80 12 60 The order cost is $10 and the carrying cost is 1% per month. The price of the item is $6. Assuming that this demand pattern will be repeated, year after year, what
(a) For a given item there is a constant demand rate. Yearly demand is 6000 units. The price of the item is $5 per unit. The ordering cost is $15 and the carrying cost is 12% per year. What is the optimal ordering policy ?(b) To what order period should this be rounded off?(c) The manufacturer of
Suppose that the per unit overstock cost for an item is $10 and the per unit understock cost is $40. Assume demand is symmetrically distributed with mean of 100 and standard deviation of 10. How much stock should be ordered ?
Assume that for a given item the per unit cost of overstock is $10 and that the fixed understock cost is $100.(a) Given that the mean demand is 100 units and that the standard deviation is 10 units find the optimal amount of stock to order. Use both the Tcheby-cheff inequality and the more accurate
For the probability distribution of failures in Problem 2 of Chapter 2 calculate:(a) The first five moments, Hr.(b) The first five moments around the mean, m ..(c) The absolute moments À1, and A3.(d) The measure of skewness, y1.(e) The measure of kurtosis, y2.
Assume that in Problem 2 of the preceding chapter no information about the probability distribution of failures is available.(a) What would be the minimax optimal strategy ?(b) What would be the optimal strategy by the regret criterion ?(c) What would be the optimal strategy by the Bayes criterion ?
(a) Demand for an item is normally distributed with mean of 200 units and standard deviation of 40. The overstock cost per unit is $12 and the understock cost per unit is $20. What is the optimal order size ?(b) For the item in (a) the decision has been made to order 300 units.Assuming the
(a) A company is making a large boiler installation. A certain auto-matic monitoring unit is crucial for the operation of the whole system. At the time of the original order spares for this unit can be purchased for$2000 each. The probability distribution for failures of this unit during the life
(a) A flower store in a small community must stock some orchids to be sold as corsages for the high school prom. Most of the young men will buy gardenias but a few orchids will be requested. On the basis of past informa-tion the store owner estimates the probability distribution of demand to
4. Is there a situation where PB might be the best fi nancial metric?
3. Do you see any fl aws in the manner in which weights are assigned to the various criteria?
2. What might be the value in selecting one of the other projects?
1. What other evaluation criteria might be added to the matrix?
20. PMI has contacted you regarding a PMP candidate’s experience claim. The individual involved is a friend and he says that he worked as a PM in your organization. He did work there, but not in the capacity individuated. This is a violation of which of the following?A. The PMP code to cooperate
19. You are a PM working within your functional organization and you do not get along well with the departmental manager. There is a serious disagreement regarding how the project should be conducted. This disagreement involves schedules, sequence of tasks, quality objectives, and other aspects of
18. You discover that one of your project team members has sold pieces of equipment that were allocated to the project. Upon further investigation you fi nd that his rationale was a need for cash to pay for his son’s college tuition. He says that he considers this remuneration for overtime hours
17. You are the PM working in a foreign country. Your local support person from the client organization presents you with a list of local team candidates for you to hire and you fi nd that several of these are related to him. What is your reaction?A. Reject the team leader’s recommendations and
16. You are the PM and your customer has requested that you infl ate your planned cost estimates by 25%. His logic is that management always reduces the cost of project estimates by about this amount so this strategy would balance out the required budget. Which of the following is the best response
15. In accordance with the compensation agreement for your project you have been given a$70,000 bonus to be distributed to your seven-person team as you see fi t. One of the team members has not performed particularly well and another of the team is in your car pool.Based on this situation you
14. One of your employees has an opportunity for promotion in another area. If this promotion is granted, the employee will be reassigned elsewhere causing a resource problem for the project. You have the authority to delay the promotion until your project is completed.You should A. Support the
13. You have just been assigned as the PM for an ongoing project and discovered that your project team is routinely violating OSHA, EPA, and affi rmative action regulations. You should A. Do nothing; it is not your problem B. Start by asking management if they are aware that regulations are being
12. You receive a contract to perform testing for an external client. After contract award, the customer provides you with the test plan to use for the acceptance process. The vice president for QA says that the customer’s test plan is fl awed and he will correct the plan that will be used and it
11. In order to balance the needs of the many stakeholders involved in your project, the most desirable method to achieve resolution of confl icts would be A. Compromise B. Forcing C. Controlling D. Confrontation
10. You are a PM working on a time and material contract. The target price for the project is$2,000,000 and the project schedule is 12 months. The most recent completion estimate indicates that the project will fi nish 2 months early and if this happens your company will lose about $250,000 in
9. You are working in a country where it is customary to exchange gifts between contractor and customer. Your company code of conduct clearly states that you cannot accept any gifts from a client. Failure to accept the gift from this client may result in termination of the contract. The action to
8. Your project is running out of budget allocation and signifi cant work remains. You are directed by senior management to instruct your team to charge their work time to another project’s account. Given these instructions you should A. Follow instructions B. Inform the corporate auditors C.
7. You are managing an internal project. The initial product test results are very poor and do not meet the minimum customer requirements. If these results are made available to your customer you are afraid that they might cancel the project and this could refl ect poorly upon you. Rerunning the
6. While working on an external (contracted) project that has extra budget funds your customer asks you to perform some additional tasks that are not included in the formal contract.You should A. Honor the customer’s request as a sign of cooperation to ensure future business B. Refuse the request
5. Your boss asks you to write an invited article for a national industry publication for him.You do this and the boss does not include your name on the article. What do you do?
4. You are told by your boss to cut your project budget estimate by 20% in order to get your project plan approved by senior management. All other cost “cutting” strategies have been exhausted and you now feel that the current estimate is accurate for the work defi ned. What do you do? What if
3. Success of your foreign project depends on receiving materials in a timely manner; however, the goods are being held up in local customs for long periods of time. A nephew of the local Grand Po Bar says that he can provide an expediting service for you and get the goods moved through customs
2. You are a member of a PMP certifi cation study group. One of the members says that he has a friend who is wired into the exam question authors and can get signifi cant input on key topics being addressed this round. What do you do? Do you report this situation to the certifying organization?
1. You are working for a U.S. organization and have just fi nished a very large and successful project in a foreign country. It is common in this culture to reward people for good work.The sponsor is extremely happy with the outcome of the project and wants to hold a formal ceremony and give
5. What specifi c protocol is to be followed to communicate closure results to the organization?
4. What communication media will be used for sharing lessons learned data (e-mail, telephone, instant messaging, etc.)?
3. What form do you expect these preferred changes to take?
2. What documentation and physical materials do you expect to have at your disposal after the project is disbanded?
1. When the project is over, what do you expect to see changed in the organization?
6. Are meetings effective collaboration processes?
5. Is salary a motivator? Explain your position.
4. What is the role of ICC?
3. Can scope creep be controlled? Defi ne some measures for this.
2. Describe two of the control knobs that a PM might use to correct a project’s direction.
1. How do you assess the general status of a project?
8. How would you sell the idea of building a common project document archive for the organization?
7. Most PMs say that they have never seen reserve pools used as outlined here. Do you agree that these reserves should be managed this way or do you see another option that would work better? Does the real-world culture impact this question?
6. Given that most real-world projects do not create the level of planning or budget documentation outlined in this chapter, what rationale do you attribute this to?
5. What is the purpose of a project baseline? Do you think that all scope changes represent new baselines?
4. How would you react to receiving signifi cant negative response to the plan after you have received formal approval from management as outlined in this chapter? Discuss your strategy and actions.
3. Assuming that your management instructed you to move into execution before you were comfortable with the plan what would you do?
2. Do you agree with the level of planning detail outlined in this part of the book? What issues do you see with this model theory versus your view of reality?
1. What project issues do you see resulting from the planning process that need to be communicated and to whom?
3. When must a risk event be accepted?
2. If a project is dealing with a new technology, what risk mitigation strategies should be considered?
1. What could a project team have done to mitigate the known/unknown issues causing the latest baloon failure from the case study outlined above
29. Is the project team accustomed to working on an effort of this size (neither bigger nor smaller)?
28. Are development and support teams all collocated at one site?
27. Is all project work being performed by groups over which you have control?
26. Are subcontractors reliable and proven?
25. Is the system being developed by a single group in one location?
24. Can software be tested without complex testing or special test equipment?
23. Has suffi cient time been scheduled for system integration and testing?
22. Will there be suffi cient equipment to do adequate integration and testing?
21. Have acceptance criteria been established for all requirements and agreed to by all stakeholders?
20. Is your testing approach feasible and appropriate for the components and the system?
19. Is the project free of special environmental constraints or requirements?
18. Is the schedule realistic to support an acceptable level of risk?
17. Are the schedule estimates free of unknowns?
16. Are development tools and equipment used for the project state-of-the-art, dependable, and available in suffi cient quantity, and are the developers familiar with the development tools?

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Project Management Theory And Practice 1st Edition Gary L Richardson - Solutions

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