Advanced Topics in Finance

Ch8 Exercises 1. Given the network plan that follows, compute the early, late, and slack times. What is the project duration? Using any approach you wish (e.g., trial and error), develop a loading chart for resources Electrical Engineers (EE), and resource, Mechanical Engineers (ME). Assume only one of each resource exists. Given your resource schedule, compute the early, late, and slack times for your project. Which activities are now critical? What is the project duration now? Could something like this happen in real projects? Instead of taking 9 days the duration has been extended to 11 days and all activities are critical. Resource shortages are common in real life and this problem demonstrates the impact resource constraints can have on project schedules. 2 PROJECT MANAGEMENT: THE MANAGERIAL PROCESS 2. Given the network plan that follows, compute the early, late, and slack times. What is the project duration? Using any approach you wish (e.g., trial and error) develop a loading chart for resource resources Carpenters (C) and Electricians (E). Assume only one Carpenter is available and two Electricians are available. Given your resource schedule, compute the early, late, and slack times for your project. Which activities are now critical? What is the project duration now? Resource constraints extend the project duration from 12 days to 14 days and Activity 2 which was part of the original critical path is no longer critical path. All other activities are critical which illustrates the key point that resource constraints tend to increase the sensitivity of project networks. Chapter 8 Scheduling Resources and Costs 3 3. Compute the early, late, and slack times for the activities in the network that follows, assuming a time-constrained network. Which activities are critical? What is the time-constrained project duration? Note: Recall in the schedule resource load chart the “ time constrained” schedule interval (ES through LF) has been shaded. Any resource schedule beyond the shaded area will delay the project. Without consideration of resources the project is estimated to take 13 time units and the critical path is 2  4  6 (see Network Diagram). Assume you have only three resources and you are using a computer using a computer that uses software that schedules projects by the parallel method and following heuristics. Schedule only one period at a time! Minimum slack Smallest duration Lowest identification number Keep a log of each activity change and update you make each period—e.g., period 0-1, 1-2, 2-3, etc. (Use a format similar to the one on page 241.) The log should include any changes or updates in ES and slack times each period, activities scheduled, and activities delayed. (Hint: Remember to maintain the technical dependencies of the network.) Use the resource load chart to assist you in scheduling (see pages 242-243). List the order in which you scheduled the activities of the project. Which activities of your schedule are now critical? Recompute your slack for each activity given your new schedule. What is the slack for activity 1? 4? 5? Log of Parallel Method of Scheduling 8-3 PERIOD ACTIVITY CHANGES 0-1 2 Schedule Activity 2 (first by minimum slack rule) 1 Schedule Activity 1 3 Delay Activity 3 ES to period 1. Reduce slack to 0 5 Delay Activity 5 ES to period 6. Reduce slack to 0 1-2 3 Delay Activity 3 ES to period 2. Reduce slack to -1 5 Delay Activity 5 ES to period 7. Reduce slack to -1 6 Delay Activity 6 ES to period 11. Reduce slack to -1 2-3 3 Delay Activity 3 ES to period 3. Reduce slack to -2 5 Delay Activity 5 ES to period 8. Reduce slack to -2 6 Delay Activity 6 ES to period 12. Reduce slack to -2 3-4 3 Schedule Activity 3 4-5 4 Schedule Activity 4 5-6 - No changes 6-7 - No changes 7-8 - No changes 8-9 5 Schedule Activity 5 4 PROJECT MANAGEMENT: THE MANAGERIAL PROCESS

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