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BA312-AL Final Exam Summer I 2020 please note: Please show the solution processes either in excel and or in a word document to receive full credit

Project Management

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BA312-AL Final Exam Summer I 2020

please note: Please show the solution processes either in excel and or in a word document to receive full credit. If you have the solutions in two documents, make sure to upload both files. For question 1, you can draw the AON network, and CPM with the solution process written on a paper, take a picture with your smartphone and submit the picture on Blackboard.

 

 

1. A sporting goods store is planning to open an outlet in a college town.  The activities consist of the hiring of the manager of the outlet and his/her employees.  Also it is necessary to coordinate the renovation of a building that previously was a fast food restaurant.  To schedule this project using PERT, the following time estimates (in weeks) are gathered:

 

Activity	Description	Opt. time	Likely time	Pess. time	Predecessors
A	Interview at college for new manager	4	10	16	None
B	Renovate building	4	6	20	None
C	Purchase new equipment for new outlet	1	4	7	B
D	Check references for new manager and make final selection	2	4	6	A
E	Place ad for new employees & interview applicants	3	3	3	D
F	Install new equipment	2	4	6	C
G	Make final selection for employees	3	3	3	E
H	Hold orientation meetings for employees	2	2	2	F,G

 

What is the critical path and expected completion time for this project?   (10 pts)

Which activity has the largest slack, and how large is that slack? (5 pts)

3. What is the probability that the project is completed in 26 weeks and 24 weeks?  (10 pts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2. Data collected on the yearly registration for a Six Sigma seminar at the Quality College are shown in the following table:

 

Year	Registrations (000)
1	4
2	6
3	4
4	5
5	10
6	8
7	7
8	9
9	12
10	14
11	15

 

1. Develop a 4-year moving average to forecast registrations from year 5 to year 12. (7 pts)
2. Estimate demand again for years 5 to 12 within a 4-year weighted moving average in which registrations in the most recent year are given a weight of 3 and 2, and registrations in the other 2 years are each given a weight of 1. (8 pts)
3. Compute the forecasts for each year using exponential smoothing, with an initial forecast for year 5 of 8. Use α = 0.3. (8 pts)
4. Using MAD, which of the three forecasting methods is best? (8 pts)
5. Using MAPE, which of the three forecasting methods is best? (8 pts)
6. Forecast registrations for year 15, using trend projection. (8 pts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3. The sales of Whole Care mouthwash at Tom's of Maine over the past six months have averaged 2,000 cases per month, which is the current order quantity. Tom's of Maine’s cost is $12.00 per case, and ordering cost is $38. The company estimates its cost of capital to be 12 percent. Insurance, taxes, breakage, handling, and pilferage are estimated to be approximately 6 percent of the item cost. Lead time is 3 days, and considering weekends and holidays, Tom's of Maine operates 250 days per year.

Based on the above information please answer the following questions

1. What is EOQ? (7 points)
2. What is the cost reduction? (7 points)
3. What is the reorder point? (7 points)
4. What is Time between Orders (TBO)? (7 points)