An Introduction To Management Science Essay

Question:

Explain about the Report for An Introduction To Management Science?

Answer:

1:

Here, Expected duration = (Best case + 4 * Most typical case + Worst case) / 6

Standard deviation = sqrt (((Best case – Worst case)/6) ^2)

Schedule mode

Best case

Most typical case

Worst case

Expected duration

Variance

Standard deviation

ID speaker topics

ASAP

1

3

5

3.000

0.444

0.667

Contact speakers

ASAP

8

9

12

9.333

0.444

0.667

Select hotel

ASAP

4

5

7

5.167

0.250

0.500

Arrange hotel accommodations

ASAP

2

4

4

3.667

0.111

0.333

Arrange catering

ASAP

4

5

7

5.167

0.250

0.500

Develop brochure

ASAP

7

9

12

9.167

0.694

0.833

Print and mail brochure

ASAP

4

8

8

7.333

0.444

0.667

Develop exhibit material

ASAP

10

12

15

12.167

0.694

0.833

Develop workbook

ASAP

4

5

7

5.167

0.250

0.500

Print and bind workbook

ASAP

3

5

6

4.833

0.250

0.500

Final set-up for conference

ALAP

2

3

5

3.167

0.250

0.500


2: According to the critical path analysis, the critical path of the project is as follow:

Start -> ID speaker topics -> Contact speakers -> Develop brochure -> Print and mail brochure -> Develop workbook -> Print and bind workbook -> Finish

Hence, the duration of the project will be

3 + 9.333 + 9.167 + 7.333 + 5.167 + 4.833 = 39

3: The standard deviation of the critical path will be

0.667+ 0.667 + 0.833 + 0.500 + 0.500 = 3.167

4: Let the duration of the project is D1 when 1? is added.

Since, about 68% of observations lie within ±1 ?, we have z value is 1

Therefore, (D1 – 39) / 3.167 = 1

Or, D1 = 39 + 3.167 = 42.167

Let the duration of the project is D2 when 2? is added.

Since, about 68% of observations lie within ±2 ?, we have z value is 1.96

Therefore, (D1 – 39) / 3.167 = 1.96

Or, D1 = 39 + 6.21 = 45.21

5:

Expected duration

Latest Start

Earliest Start

Float

ID speaker topics

3

0

0

0

Contact speakers

9

3

3

0

Select hotel

5

9

0

9

Arrange hotel accommodations

4

15

5

10

Arrange catering

5

18

9

9

Develop brochure

9

12

12

0

Print and mail brochure

7

21

21

0

Develop exhibit material

12

23

14

9

Develop workbook

5

29

29

0

Print and bind workbook

5

34

34

0

Final set-up for conference

3

36

26

10


6:
Since, both “Develop workbook” and “Print workbook” are critical activities, any changes in these activities will influence the overall duration of the project. Note that the activity “Develop workbook” will start as soon as “ID speaker topics” is complete. Hence, it will reduce the overall duration. Initially the duration was 39 days. Now it reduced to 29 days. At the same time the critical path will also change.

Bibliography

Anderson, D., Sweeney, D., Williams, T., Camm, J. and Cochran, J., 2015.An Introduction To Management Science: quantitative approaches to decision making. Cengage Learning.

Fama, C.C.G., Alencar, L.H. and de Almeida, A.T., 2015, December. Assignment of critical path for a building site based on multicriteria approach. In Industrial Engineering and Engineering Management (IEEM), 2015 IEEE International Conference on (pp. 1307-1311).

Kim, K.J., Cho, J.Y., Lee, D.Y. and Lee, M.J., 2015. Development of an automated As-planned schedule system for efficient scheduling. KSCE Journal of Civil Engineering, pp.1-7.

Selvan, M.M., Ahuja, S., Parray, R.A., Rajaiah, P. and Rangasamy, K., 2015. Overhaul maintenance of modern bulldozers with software-based management techniques (PERT/CPM). The Indian Journal of Agricultural Sciences, 85(4).

Trietsch, D. and Baker, K.R., 2012. PERT 21: Fitting PERT/CPM for use in the 21st century. International journal of project management, 30(4), pp.490-502.

Willis, R.J., 1985. Critical path analysis and resource constrained project scheduling—theory and practice. European Journal of Operational Research,21(2), pp.149-155.

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