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    Production Management - Southern University, Hard Rock'S Rockets

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    Question 1. Read Southern University (A) case study on page 95. If it is necessary to crash this project to 250 or 240 days, how would Hill do it and at what cost? Include your approach and describe your solution. As noted in the case, assume that optimistic time estimateS can be used as crash times.
    Question 2. Read the Managing Hard Rock'S Rockets case study on page 97. Which activities have a slack time of eight weeks or more? What are five major challenges a project manager faces in eventS such as this one?
    Question 3. What three methods are used to determine the accuracy of any given forecasting method? How would you determine whether time-series regression or exponential smoothing is better in a specific application?
    Question 4. Explain in your own words the meaning of the correlation coefficient. What is the meaning of a negative value of the correlation coefficient?

    Each question must be at least 200 words with references and the book that I am using is Operations Management by Jay Heizer & Barry Render.

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    https://brainmass.com/business/project-management/production-management-southern-university-hard-rocks-rockets-612841

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    The response addresses the query posted in 1686 words with APA references

    //In this discussion, two case study related queries are to be responded. Firstly, the case of Southern University is related to crashing of the project, which is to be crashed to 250 or 240 days. Therefore, the crashing process and crash cost are evaluated by describing the overall approach of project crashing. I tried to include clear details of each aspect. You are free to add some more details, which you find suitable.//

    Case Study: Southern University (A)

    From the given information about the project activities, the following network diagram is drawn for Hill construction, which reveals that the critical path is A→C→D→G→H→I→L. The critical path signifies that the project is expected to be completed within a period of 260 days (Heizer & Render, 2004).

    (See the picture )

    As per the specifications, it is necessary to crash this project to 250 or 240 days. Therefore, it requires consideration of the crash time and the crash cost with respect to the activities of the project. Crash time is the optimistic time related to each of the project activities. The table shown below summarizes the crash time, expected time, and crash cost/day for the project activities.

    Firstly, the process of crashing is started from the activities that come under the critical path, and then other activities are undertaken for further crashing and multiple critical paths (Heizer & Render, 2004). Now, the project has to be crashed to 250 days. So, activity A is undertaken, which can be crashed by 10 days due to the difference between the crash time (20 days) and the expected time (30 days). On crashing of activity A by 10 days, an additional cost is required to be added to the initial project investment, which is:

    Crash cost of Activity A = 10× $1500 = $15,000
    This indicates that a crash cost of $15,000 is required for crashing of the project to 250 days.
    For crashing of the project to 240 days, the project has to be crashed by 20 days. Activity A cannot be crashed further because it has reached its optimum limit. Therefore, activity D is undertaken, which can be crashed by 10 days due to the difference between the crash time (30 days) and the expected time (55 days). On crashing of activity D by 10 days, an additional ...

    Solution Summary

    The expert examines production management for the Hard Rock`s Rocket. The response addresses the query posted in 1686 words with APA references

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