In this project, you will design a prescriptive model for an inventory problem. Furthermore, you will obtain “optimal” solution(s) of your model both in the absence and the presence of uncertainty.Problem:Inventories represent a considerable investment for every organization; thus, it is important that they be managed well. Excess inventories can indicate poor financial and operational management. On the other hand, not having inventory when it is needed can also result in business failure. The two basic inventory decisions that managers face are how much to order or produce for additional inventory, and when to order or produce it to minimize total inventory cost, which consists of the cost of holding inventory and the cost of ordering it from the supplier.

As a project management professional, it is important for you to be able to review numbers and report on what they are saying. It is also important for you to be able to use software that helps you keep timelines and keep the project running on time and smoothly. This assignment will continue to help prepare you for your responsibilities. For this assignment, you are to build upon your completed Microsoft Project schedule for the "Technology Refresh Project" from Topic 2 by adding resources and resolving any resource overallocations. You will then determine the display project cost information and will also show the updated (if any) critical path. Open the attached Topic 3 Project Resources Information (a Microsoft Excel file). You will notice in column H that resource names have been added. These resources were already included in the Resource Sheet in the Microsoft Project template file that you worked on during Week 2. Open the Microsoft Project file that you completed during Week 2 and perform the following. Ensure that the "Type" field contains "Fixed Duration" for all tasks. For each lowest-level task, enter the resource names from Topic 3, Project Resources Information (a Microsoft Excel file) into the Resources Names field in the your Microsoft Project file. Note that you can simply select the resource(s) using the pull-down menu. You will notice in the "i" column (i.e., the column with white "i" and blue circle) that certain tasks have a red person displayed. That means that the task has resources that are overallocated (a resource is assigned more than 8 hours per day on one or more days for that task). These resource overallocations need to be resolved. To resolve these overallocations, perform the following: Again, ensure that the "Type" field contains "Fixed Duration" for all tasks. This ensures when you change the assigned hours for the tasks, the task durations and associated dates will not change. In the VIEW ribbon, check the "Details" box in the "Split View" group. In the right bottom of the screen (in the gray area), right click and select "Work." Go to the first task that has the resource overallocation. Reduce the hours in the "Work" field and/or assign a different applicable resource in order to resolve the resource overallocation. Be sure to not alter task durations, start, or finish dates. Also, ensure that your project end date does not change. You may optionally go to the VIEW ribbon, and select "Resource Graph" in the "Other Views" pull-down menu. This will provide a graph that will specifically show what days a resource is overallocated. Repeat item (4) for each task that has a resource overallocation. Your final Microsoft Project schedule should have no tasks with overallocated resources. Be sure to take notes that summarize the changes you made. Display the project cost information and critical path: Remove the split task screen by double-clicking on the split-task border. Display cost information by left-clicking on the "Add New Column" field. Select the "Cost" field. Note that since a WBS hierarchy exists, you can see cost information for each summary task, along with the total project cost at the top of the schedule. Display the critical path: Go to the FORMAT ribbon and check the "Critical Tasks" box in the BAR STYLES group. Note that the critical path task bars will turn red. Also, take note that the Total Slack column contains 0 days for the critical path tasks. Submit your updated Microsoft Project file by the end of Week 3. Ensure that your last name is in the file name. Submit your updated Word document by the end of Week 3 (ensure that your last name is in the file name) that includes responses to the following: In summary, what steps did you take to resolve the resource overallocations? Did your critical path change? If so, how? What series of tasks represent the highest cost (as indicated by their summary task)? What is the total project cost? This assignment uses a scoring guide. Please review the scoring guide prior to beginning the assignment to become familiar with the expectations for successful completion. APA style is not required, but solid academic writing is expected. You are not required to submit this assignment to LopesWrite.