MKT $364-$ Operations Management

Case #$1-$ Project Management

Southwestern University is constructing a new building and needs to use Project Management techniques to ensure the project stays on schedule and on budget. Use the below charts to solve the questions on the following page.

$\backslash$table$[[$Activity$,$Description,Predecessor$($s$)],[$A$,$Bonding, Insurance, tax structuring,$-],[$B$,$Foundation, concrete footings for boxes,A$],[$C$,$Upgrading skybox stadium seating,A$],[$D$,$Upgrading walkways, stairwells, elevators,C$],[$E$,$Interior wiring, lathes,B$],[$F$,$Inspection approvals,E$],[$G$,$Plumbing,D$,$ F$],[$H$,$Painting,G$],[$I$,$Hardware $/$ AC $/$ metal workings,H$],[$J$,$Tile $/$ carpet $/$ windows,H$],[$K$,$Inspection,J

$\backslash$table$[[,$Time Estimates $($Days$),],[$Activity$,$Optimistic,$\backslash$table$[[$Most$],[$Likely$]],$Pessimistic,$\backslash$table$[[$Crash Cost$],[/$ Day$]]],[$A$,20,30,40,1,500],[$B$,20,65,80,3,500],[$C$,50,60,100,4,000],[$D$,30,50,100,1,900],[$E$,25,30,35,9,500],[$F$,0\mathrm{.}1,0\mathrm{.}1,0\mathrm{.}1,-],[$G$,25,30,35,2,500],[$H$,10,20,30,2,000],[$I$,20,25,60,2,000],[$J$,8,10,12,6,000],[$K$,0\mathrm{.}1,0\mathrm{.}1,0\mathrm{.}1,-],[$L$,20,25,60,4,500]]$

Solution Requirements

Utilize Microsoft Excel to complete the following steps:

Draw the project network diagram.

Calculate the expected activity time, standard deviation, and variance for each activity. Create a table to display the results.

Find the critical path Utilize a forward and backward pass analysis. Create a table to display $ES,EF,LS,LF,$ and slack Calculate the expected project completion time and the standard deviation of the critical path. Use the expected time activity time in your calculations.

Find the probability of completing in $270$ days.

Examine the possibility of crashing the project to $250$ and $240$ days. In order to do this, use the optimistic time as the crash time, and calculate the lowest possible total cost of crashing using the cost per day. The crash cost$/$day is given to you in the chart.

Prowide recommendations to managers of actions that should be pursued. Share your own insights that you discowered while solving the problem.$],[$L$,$Final detail work $/$ cleanup,I, K$]]$