Quantitative Problems- Project Management
Not what you're looking for?
A leading manufacturer of construction and mining equipment is considering placing a bid for 6 excavators. The manufacturer has just finished building the first excavator. The data for the first excavator is as follows:
Labor Hours = 6,000
Material Cost = $200,000
Labor Cost = $50/hour
The company expects a Learning Rate of 75% in building these excavators for the next 2 units, then anticipates that the time per unit levels out and little further improvement occurs.
Determine the bid that should be placed, that is, the total budget and schedule needed to complete this prospective project.
2. Tracking signals may identify the accuracy of one's estimating skills. Using the following data:
a. Compute the tracking signal for each period
b. What is the Mean Absolute Ratio (MAR) at the end of 6 months?
c. Interpret the results
Bias in Estimate Chart
Month Estimate Actual (At/Et)-1 |(At/Et)-1| MAR Tracking Signal
1 1000 950
2 1100 1040
3 1110 1050
4 1000 960
5 1150 1090
6 1100 1050
Purchase this Solution
Solution Summary
There are two problems. Solution to first problem depicts the methodology to calculate the bid amount in the given case. Solution to second problem calculates the Tracking Signal and Mean Absolute Ratio in the given case.
Education
- BEng (Hons) , Birla Institute of Technology and Science, India
- MSc (Hons) , Birla Institute of Technology and Science, India
Recent Feedback
- "Thank you"
- "Really great step by step solution"
- "I had tried another service before Brain Mass and they pale in comparison. This was perfect."
- "Thanks Again! This is totally a great service!"
- "Thank you so much for your help!"
Purchase this Solution
Free BrainMass Quizzes
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Motivation
This tests some key elements of major motivation theories.
Managing the Older Worker
This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Basics of corporate finance
These questions will test you on your knowledge of finance.