New York Building Corporation uses the critical path method to monitor construction jobs. The company is currently 2 weeks behind schedule on Job #181, which is subject to a P10,500 per week completion penalty. Path A-B-C-F-G-H-I has a normal completion time of 20 weeks, and critical path A-D-E-F-G-H-I has a normal completion time of 22 weeks. The following activities can be crashed. Activities Cost to Crash 1 Week Cost to Crash 2 Weeks BC P 8,000 P15,000 DE 10,000 19,600 EF 8,800 19,500 REQUIRED: New York Building desires to reduce the normal completion time Job #181 and, at the same time, report the highest possible income for the year. New York Building should crash a. Activity BC 1 week and activity EF 1 week c. Activity EF 2 weeks b. Activity DE 1 week and activity BC 1 week d. Activity DE 1 week and activity EF 1 week
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
. New York Building Corporation uses the critical path method to monitor construction jobs. The company is
currently 2 weeks behind
Path A-B-C-F-G-H-I has a normal completion time of 20 weeks, and critical path A-D-E-F-G-H-I has a normal
completion time of 22 weeks. The following activities can be crashed.
Activities Cost to Crash 1 Week Cost to Crash 2 Weeks
BC P 8,000 P15,000
DE 10,000 19,600
EF 8,800 19,500
REQUIRED:
- New York Building desires to reduce the normal completion time Job #181 and, at the same time, report
the highest possible income for the year. New York Building should crash
a. Activity BC 1 week and activity EF 1 week c. Activity EF 2 weeks
b. Activity DE 1 week and activity BC 1 week d. Activity DE 1 week and activity EF 1 week
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