What are the underlying assumptions of minimum-cost scheduling? Are they equally realistic?
The approach of expenditure, as well as timetable estimation, helps in determining the number of resources required to complete entire project activities. It often comprises estimation and the development of cost alternatives in terms of preparation, implementation as well as operation, delivery, or distribution of a work.
The essential assumptions of a minimal cost schedule are that it costs lots of revenue to enhance a task or activity as well as to maintain and extend the project’s finishing duration.
While all assumptions are usually realistic, it is not unusual for there to be few as well as no out-of-pocket expenditures connected with project maintenance. Personnel are frequently changed among tasks; therefore there may be minimal motivation to finish the work in "regular time" shortly.
When selecting to choose whether or not to utilize minimum-cost timing, leaders should consider the schedule as well as the cost trade-off. The scheduling problem is also crucial since project speed, as well as extension, include time considerations.
Match the following product types to the appropriate product development description.
Technology-push products A. Entail unusually large uncertainties about the technology or market. The development process takes steps to address those uncertainties.
Platform products B. A firm with a new proprietary technology seeks out a market where that technology can be applied.
Process-intensive products C. Uses a repeated prototyping cycle. Results from one cycle are used to modify priorities in the ensuing cycle.
High-risk products D. The production process has an impact on the product properties. Therefore, product design and process design cannot be separated.
Quick-build products E. Products are designed and built around a preexisting technological subsystem.
The home office billing department of a chain of department stores prepares monthly inventory reports for use by the stores’ purchasing agents. Given the following information, use the critical path method to determine:
a. How long the total process will take.
b. Which jobs can be delayed without delaying the early start of any subsequent activity?
Job and Description
Get computer printouts of customer purchases
Get stock records for the month
Reconcile purchase printouts and stock records
Total stock records by department
Determine reorder quantities for coming period
Prepare stock reports for purchasing agents
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