Math Problem Statement

(c) (7 points) Because you have to be back to school in September, and you cannot start before you have finished your last final exam, you need to shorten the project to 63 days (end of June to end of August). You want to keep the cost as low as possible since the budget is very tight. What is the minimum total cost to finish the project in 63 days?

Solution

To solve this problem, you'll need to perform the following steps:

  1. Identify the Current Duration of the Project: First, determine the total duration of the project as it currently stands. We need this to understand how much time needs to be reduced to reach the 63-day target.

  2. List the Critical Path Tasks: Identify tasks on the critical path (the sequence of tasks that determines the project duration) since only reducing the duration of tasks on the critical path will impact the total project duration.

  3. Determine Crashable Tasks: Find out which tasks on the critical path are “crashable” (i.e., tasks that can be completed in less time by allocating additional resources). For each crashable task, determine how much time can be reduced and the associated costs.

  4. Calculate Costs of Crashing: For each crashable task, calculate the cost to reduce it by a certain amount of time. This is typically given by a cost per day reduction.

  5. Optimize for Cost Efficiency: To minimize costs, start by crashing tasks that have the lowest cost per day until the total project duration is reduced to 63 days.

  6. Fill in the Table: Use the table provided to record your calculations, showing total costs, the adjusted number of days, critical paths, crashable tasks, and the best crashing options to achieve the 63-day project timeline.

Could you provide additional details about the project tasks, their durations, and any costs associated with crashing specific tasks? This will allow for precise calculations and filling in the table accurately.


Would you like to proceed with this breakdown? Here are a few related questions to consider:

  1. What is the current duration of the project?
  2. Are there specific tasks and their durations listed in the project?
  3. What are the costs associated with crashing each task?
  4. Are there constraints on the maximum amount of time each task can be crashed?
  5. Is there a specific cost structure or budget limit for the project?

Tip: For project management questions like this, breaking down tasks and identifying which ones impact the timeline most significantly helps focus on effective cost management.

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Math Problem Analysis

Mathematical Concepts

Project Management
Critical Path Analysis
Cost Optimization

Formulas

Crash Cost Per Day = (Crash Cost - Normal Cost) / (Normal Time - Crash Time)

Theorems

Critical Path Method

Suitable Grade Level

University level (Project Management/Operations Research)