# Project Management And Operational Research Essay

2094 words - 9 pages

University of Wales
&
Management Development Institute of Singapore (MDIS)

Subject : Project Management and Operational Research
Type of assignment : Individual Assignment
Lecturer : Siew Ngung Chia
Course : Master of Science in Management

Assignment Cover Sheet
Number Name of Student ID Number Signature
1 Musamukhamedov Farrukh M1100082

Submitted on Due Date? NO (Date Submitted: 19/03/2012)
Words Limit Observed? No

CONTENT PAGE

Chapter 1. BACKGROUND
The Case Summary 3
Methodology 3
Limitations 4

Chapter 2. ANALYSIS OF CASE
2.1. Setting up the model 5
2.2. Solution from Management Scientist 6
Interpretation and Explanation of ...view middle of the document...

Table 1. Current constraints and resources.
Trucking capacity at least 36 tons
Manpower max 48 workers
Trucking facilities available max 40

The paper analizes and gives optimal solutions for the investment based on the current situation. Moreover, discusses the adventages and disadvantages of the following listed alternative options of purchasing:
only one type of truck (pickup or vans)
same number of each type of truck (50% pickup trucks and 50% vans)
minimum total number of trucks

Methodology
Bay City Movers problem can easily be analyzed using mathematical model which presents the core of the problem. Mathematical model is very convenient tool to reformulate the problem. It has many advantages over a verbal description of the problem. A major advantage of a mathematical model is its ability to describe a problem more briefly. This makes the overall structure of the problem more logical and helps to tell important cause-and-effect relationships. In this way, it indicates more clearly what additional data are relevant to the analysis. Finally a mathematical model forms a bridge to the use of high-powered mathematical techniques and computers to analyze the problem.
For the purpose of this report, we have chosen one of the most widely used model, known as linear programming model. According to Thomas Ferguson a linear programming is defined as the problem of maximizing or minimizing a linear function subject to constraints. In other words linear programming is the process of finding the “best” value obtainable under various linear inequalities related to some conditions. A typical example related to Bay City Movers would be taking the limitations of facility available for trucks and labor, and then determining the minimum investment for the “best” trucking capacity under those conditions.

Limitations
Linear programming tool should not be considered as a perfect tool of modeling. It has some limitations that should be considered while considering specific condition in real life applications of project management. Here are limitations listed by Denis Lock (2003):
Linearity of relations: A primary requirement of linear programming is that the objective function and every constraint must be linear. However in real life situations, several business and industrial problems are nonlinear in nature.
Single objective: Linear programming takes into account a single objective only, i.e., profit maximization or cost minimization. However, in today’s dynamic business environment, there is no single universal objective for all organizations.
Certainty: Linear programming assumes that the value of co-efficient of decision variables are known with certainty. Due to this restrictive assumption, linear programming cannot be applied to a wide variety of problems where values of the coefficients are probabilistic.
Constant parameters: Parameters appearing in LP are assumed to be constant, but in practical situation it is not so.
...

## Other Papers Like Project Management and Operational Research

### Project Management and Project Success Essay

1352 words - 6 pages Project Management and Project Success Project management is the facilitation of the planning, scheduling and controlling of all activities that need to be done in the project in order to achieve project objectives. Project management is a very important term in large and small businesses because all businesses are eager to implement new activities, such as the development of a new project and service. In addition project success requires

### Mcdonald's Influences And Project Management Essay

2340 words - 10 pages refurbishments to make them more comfortable. This requires investment at a time when there is a credit crunch, however, with low interest rates this is a boon to the borrowing that does exist, reducing its overall cost. Operational issues are always important and may also impact on project management, many projects that take place will directly impact on operations. The firm has developed new systems to forecast supplies and sales, to work with

### Time Management Skills and Project Management Skillls

1490 words - 6 pages entering. Perservering with the academic enviroment is also important and will give a person a sense of achievement when they have completed a task and have adhered to all rules and sanctions put in place in order to conclude it. The main discipline of project management is mainly the planning, organising and managing of resources put in place in order for a task to be completed. The main contest created within this role outline is that of the

### Aims and Objectives of Research Project

3033 words - 13 pages time doing the market research to find out the scope for my project. This will help me boost my project in the future in market area in the near future. In addition to time scale and market research one of the main key aspect for me to carry out the project is on the materials that I need to build by project on. That includes both hardware and software materials. Its necessary for me to ensure that I am working on a suitable platform to bring

### Project Management Case Studies: Ikea and Timbuk2

3414 words - 14 pages Project Management Case Studies: IKEA and Timbuk2 Table of Contents Case I: IKEA Design and Pricing 3 Case Summary: 3 Key Terms: 3 Case Questions 5 Conclusions 9 Case II: The Tao of Timbuk2 9 Case Summary: 9 Key Terms: 10 Questions: 11 Conclusions: 15 Bibliography 16 Case I: IKEA Design and Pricing Case Summary: IKEA is a Swedish retailer that dominates the home market in 32 countries and is currently expanding in

### Project Management Research

2373 words - 10 pages on team building. Why? Where is the wisdom in that? Teams lie at the heart of corporate success. Whether these be management teams, sales teams, the team in the office, you will find them in the most profitable and successful organizations. But these teams don't just function well internally, they connect with each other - I have seen many companies in which the different departments hardly speak to each other! And when they do, it is usually

### Discipline, Profession, and Growth of Project Management in an Organisation

753 words - 4 pages Projects have ‘being undertaken in a rudimentary form back beyond the Romans to early civilizations,’(Walker and Dart, 2011, p.4-16) from building the ‘Great Wall of China’, to ‘The Great Pyramid of Giza’ (Haughey, 2013) and notable architectural buildings that are still in existence today. Project management tools such as program evaluation review technique (PERT) and critical path method (CPM) came into effect between 1956 to 1958 (Azzopardi

### Pm610-1003b-02 Project Time, Cost and Scope Management

1031 words - 5 pages PM610-1003B-02 Project Time, Cost and Scope Management       Overview   As the assigned Project Manager IRTC has asked me to evaluate the customer service add on package the vendor offered while still in project negotiations. The price tag for the add-on is \$25,000 and will take an additional 4 weeks to complete. I have been asked to provide my opinion. Over the next few pages I shall discuss What one should consider

### Analysis of the Components of Project Portfolio Management and Impact on Project Managers

834 words - 4 pages most closely aligned with the business strategic objectives. Projects and programs are often evaluated and ranked in terms of importance. Project managers have little to do with these processes. Executive managers are engaged the most in those processes. ( Beringer, Jonas, and Georg Gemünden, 2012). Change management. Change requests may lead to new technical, resource and operational requirements or cause constraints. Therefore, it is essential

### Business Research Project Part 1: Business Problem and Research Questions (Revised)

718 words - 3 pages Business Research Project Part 1: Business Problem and Research Questions (Revised) QNT/561 December 15, 2014 Business Research Project Part 1: Business Problem and Research Question Cooper & Schindler (2011) define business research as the process of planning, acquiring, analyzing, and disseminating relevant data, information, and insights to decision makers in ways that mobilize the organization to take

### Design a Research Project That Would Ascertain How Parenting Styles Influence the Development of a Child. Include (a) Your Hypothesis and (B) Your Method

780 words - 4 pages Assignment # 3 Question: Design a research project that would ascertain how parenting styles influence the development of a child. Include (a) your hypothesis and (b) your method. How a parent disciplines and respond to their child may have great affects on their creative thinking. There are four types of parenting styles, authoritarian, authoritative, permissive, and uninvolved. (Kendra Cherry, “Parenting Styles”) By definition, I would

## Related Essays

### Operational Management: Roles And Goals Essay

596 words - 3 pages Operational Management: Roles and Goals All organizations produce products, services, or a combination of both, regardless of size, being public or private, not-for-profit, or for-profit. Because of this, every organization has an operations function. Managing finite resources in the production and delivery of the products and services requires operational management (Slack, Chambers, & Johnston, 2010). Operations managers are the

### Naomi Project Analyze A Selected Organization’s Environmental Factors (Legal, Social And Economic). Discuss The Operational, Managerial And Financial Issues. Provide A Discussion On The Impact Of...

1765 words - 8 pages Naomi Project BUSN300: Lower Division Capstone American InterContinental University Dolce & Gabbana is a legendary company doing business with expensive perfumes and fashions. Companies like this can keep this status by knowing how to adjust to the economic and social environment. These companies are hasty in resolving any issues that steam from a number of things such as operational, financial, or managerial areas. This paper will be

### Project Management And Success In Academic Research Essay

3103 words - 13 pages PROJECT MANAGEMENT AND SUCCESS IN ACADEMIC RESEARCH Lori Criss Powers   Dr. Gillian Kerr May 21, 2009 Abstract: Conventional project management approaches do not seem to work well in academic research. In our experience, problems include resistance to basic project management processes like milestone development, extended delays caused by researchers not responding to emails or phone calls, a consistent lack of clarity regarding project

### Research On Lean Project Management Essay

2452 words - 10 pages Research on Lean Project Management Summary This report explains theories and assumptions of current project management methods, and compares it to the Lean Production Delivery System (LPDS) by showing advantages and disadvantages of each method. This report also includes how the LPDS is more efficient than other methods by eliminating wastes and save cost and duration. Introduction: Client needs nowadays are