Question: Consider a project with seven tasks. Three tasks tasks 3, 4, and 5 require a specific resource for completion; all needed resources must be available
Consider a project with seven tasks. Three tasks tasks 3, 4, and 5 require a specific resource for completion; all needed resources must be available at the site before a task can be started.
| Task | Duration | Predecessor (s) | Units of Resource Needed | Value of Completed Task |
| 1 | 3 | - | - | - |
| 2 | 2 | 1 | - | - |
| 3 | 3 | 1 | 10 | $4000 |
| 4 | 3 | 1 | 10 | $3000 |
| 5 | 3 | 3 | 12 | $5000 |
| 6 | 1 | 4 | - | - |
| 7 | 1 | 2, 5,6 | - | - |
Each resource unit cost $100; no quantity discounts are available. In addition, it costs $2 per unit per time period to hold this resource in stock, and it costs $45 just to place an order for materials (independent of the number of units ordered). When should each task in the project be started and when and how many resources should be ordered to minimize total project costs?
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
