Question: Please show formulas input in excel and the solver parameters (i.e objective, changing variable cells, and constraints). Please provide a detailed step-by-step description of your
Please show formulas input in excel and the solver parameters (i.e objective, changing variable cells, and constraints). Please provide a detailed step-by-step description of your proposed solution. Please don't copy solutions from other Chegg questions as they are not right. Thank you!


Good Homes Construction Company is about to begin the construction of a large new home. The company's president, Michael Dean, is currently planning the schedule for this project. Michael has identified the five major activities (labeled A, B, . . ., E) that will need to be performed according to the following project network. Start A 15 D E Finish He also has gathered the following data about the normal point and crash point for each of these activities. Activity Normal Time (Weeks) Crash Time Normal Crash (Weeks) Cost Cost A 3 2 $54,000 $60,000 B 4 C 5 D 3 4 MNN 3 62,000 65,000 2 66,000 70,000 1 40,000 43,000 2 75,000 80,000 These costs reflect the company's direct costs for the material, equipment, and direct labor required to perform the activities. In addition, the company incurs indirect project costs such as supervision and other customary overhead costs, interest charges for capital tied up, and so forth. Michael estimates that these indirect costs run $5,000 per week. He wants to minimize the overall cost of the project. Therefore, to save some of these indirect costs,
Step by Step Solution
There are 3 Steps involved in it
a Critical Path Analysis and Project Duration Critical Path Method CPM Identify Activities and Durations Normal Time A 3 weeks B 4 weeks C 5 weeks D 1 week E 4 weeks Network of Activities From the dia... View full answer
Get step-by-step solutions from verified subject matter experts
