MGT608 Week 2 American International College Earthmover Project Plan

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Business Finance

MGT608

American International College

Description

And if you'd like to see how Excel can really help you optimize complex projects, try out this example by using the imbedded SOLVER fucntion (see Data tab. Install under File, Options, Add-ins.)

Questions: Given that the current construction project is planned to be completed in 30 days.

  1. What is the best way to meet the expedited request of 26 days?
  2. What is the cost to expedite the project?

If you want even more insight into managing your project, consider using specialized software tools such as Microsoft PROJECT -- see your Single-Sign On page for Lynda.com resources and then search for "Microsoft Project 2016 Essential Training".

HINTS -- to install SOLVER:

  • Excel: Open a document, under File, select Options, then select Add-ins, then by ”Manage… Excel Add-ins” click GO, check the box for “Solver Add-In”, and finally click OK.
  • Google Sheets: Open a document, in the top-menu select "Add-ins", select "Get Add-ins", search for Solver and click FREE.

Unformatted Attachment Preview

EarthMover Project "Current project has a critical path of 30 days. You must complete the job by at least day 26!" NORMAL Activity A B C D E F G H I Time (weeks) 6 4 3 6 3 10 2 6 8 $ $ $ $ $ $ $ $ $ Goal to complete by: Objective Function Min cost to CRASH 6 10 9 16 13 20 22 28 30 H I 30 $ = = = = = = = = = Note: New Finish time 28 30 Best Time (weeks) 5 4 2 3 2 7 2 5 4 Cost 80,000 100,000 50,000 150,000 180,000 300,000 100,000 450,000 350,000 weeks Activity Crash Cost ($) $ 20,000 $ $ 50,000 $ 150,000 $ 70,000 $ 180,000 $ $ 350,000 $ 300,000
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