BUS 370 PROJECT SCHEDULING 1. Cases for BUS 370 are take-home, open-book, open-notes, open-library, etc. You may consult any written materials other than another (past or present) team's case or work papers. Please do not discuss any aspect of the case with anyone except your partners, my staff, or me. To collaborate or seek other assistance is a breach of academic integrity and is viewed as a serious offense by the University. 2. Please submit one solution package per team with its answers neatly worked out in detail. To earn partial credit, you must show all work (including Excel input). 3. For each question requiring a new run of the Excel add-in, please submit the following: a. A ...view middle of the document...
7. GOOD LUCK AND HAPPY LEARNING!
Professor Al E. Gator, who has been teaching Management Science at the Swamproot University School of Business, has decided to publish his own textbook based on the materials that he has developed over the past 25 years. He expects his textbook to be a big hit, as does his publisher, John Smiley, & Sons, Inc. Professor Gator asked his graduate assistant, Amanda, to help him organize the schedule of core macro-level activities that constitute this project. She has estimated that it will take about 21 months (i.e., 452 business days) to complete the entire publishing process. After discussions with Smiley and Sons, Amanda determined that Al will lose about $10,000 per business day in book royalties from textbook sales if the project is not completed by the deadline. Table 1 shows the precedence relationships among the macro-level activities that constitute the upcoming project, as well as the optimistic(a), most likely(m), and pessimistic(b) activity times estimated in business days.
MACROLEVEL ACTIVITY A B C D E ACTIVITY DESCRIPTION IMMEDIATE PREDECESSOR A A B,C C ESTIMATED ACTIVITY TIMES (IN BUSINESS DAYS) Optimistic Most Likely Pessimistic
F G H I J K L M
N O P
Al arranges for a meeting with Smiley editor to discuss the project Al prepares an outline for the text Al prepares and sends editor two sample chapters Al prepares and sends a formal proposal to Smiley Editor engages faculty for review and compiles their suggested changes Al implements editor’s changes on the two sample chapters Al negotiates final contract details with Smiley Al prepares and sends the remaining seven chapters to editor Al drafts all figures and graphs Editor reviews the preliminary figures and graphs Editor reviews the entire text and makes final changes Al reviews editor’s final changes Smiley marketing department executes promotional program for text Smiley prints copies of the text Smiley distributes copies to warehouses Smiley distributes copies from warehouses to campus bookstores
8 20 51 4 10 8 18 172 51 9 53 8 43 32 11 7
10 22 55 5 10 10 19 185 56 10 55 9 50 37 12 7
12 25 59 5 12 13 24 197 65 13 61 11 58 41 14 7
D, E E E F, H I J K G
L M, N O
Part A. Please use your understanding of project scheduling to help Amanda address the following: 1. Please identify the critical path using the activity letters provided, and explain the significance of the critical path. 2. With respect to the total project, what is your best estimate of: a. the expected project-completion time? b. the most-likely project-completion time? c. the variance of the project completion time? Also, one-by-one, please discuss briefly the specific statistical assumptions, if any, that you made in answering questions 2a., 2b., and 2c.
3. Please create the fully-labeled network diagram for the project using the activity letters provided as labels, and explain its usefulness in managing this project. What...