...PM-592 Week 2 Assignment Problem 2-1 Basic Estimating Problem Equipment $15,000 $35,000 $10,000 $1200 $9,990 = $71,190 Installation/Labor 8hrs * $35/hr = $280/per day per worker 2 Maintenance specialists * $280 per day = $560 $560 * 2 Days = $1120 $1120 + Contract Labor $7,500 = $8620 Overhead $71,190 * 15% = $10,678.50 $8,620 * 3% = $258.60 $71,190 * 5% = 3,559.50 +8.620 * 5% = 3,990.50 Total Overhead = 14,927.60 2-2 (a) Expected price .24 + 4(.30) + .62 /6 = 0.34 (b) Expected Usage 37 + 4(40) + 49/6 = 41 tons (c) Expected total cost (simple method) = 41 tons @ .34 per pound and 1 ton is equal to 2000 lbs 41 tons * 2000 = 82,000 82,000 * .34 = $27,880 (d) Expected cost: $0.34/lb * 82,000 lbs = $27,880 Most optimistic cost: $0.24/lb * 74,000 lbs = $17,760 Most pessimistic cost: $0.62/lb * 98,000 lbs = $60,760 The final estimated cost for the material is: (($17,760 + (4 * $27,880) + $60,760))/6 = $31,673.33 2-3 (a) 1.50 ($80 + $3 + $6) + 1.20($7 + $5.5 + $6.5)+ 1.05($15 + $12 +$3.70+$1.50+$18) =$209.01 209 / 1000 = $0.21 (b) $0.21 @ 150% markup (2.5 * $0.21) = $0.525 (2 * $0.525) = $1.05 (c. ) I feel to believe that the project can be approved if an attempt to minimize risk was applied to the situation. (d) My recommendation to reduce or eliminate any contingency from a budget would start with identifying the risk. Then formulate a plan that tackles the risk. Insure all terms as it relates...
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...Executive Summary/Proposal – Our motto and our mission is "Health for Life." Menon’s Yoga Centre, LLC intends to fulfill the mission through the opening of multiple Yoga centers. Initially our first centre will be used as model on which to base additional franchised studios. Yoga is growing trend in health and fitness industry and Menon’s Yoga centre will teach both traditional and unique styles of Yoga classes. This blend of styles draws more customers than typical studios attract. By capitalizing on this strength, we are in unique position to create nationally recognized style of teaching and recognized brand. The primary objective is to open a flagship centre that will draw clients from other local studios. Franchise additional studios under the Menon’s Yoga Centre brand, will establish our unique system of yoga training as branded system. The objective to open our first local studio, train teachers in our methodology create branded retail products then expand our unique yoga fitness system into recognizable market culture. The second step is to train teachers and staff. The Mission Statement Menon’s Yoga Centre, LLC, is dedicated to promoting healthier living and reduced stress through yoga and meditation classes and massage therapy. Classes are offered morning afternoon and evening seven days week to accommodate all of our clients' schedules. The Centre will be open daily from 8 a.m. to 8 p.m. Massage therapy meditation classes and private classes will be offered...
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...CP-2 Theme Park PM592 Project Cost and Schedule Control Oct 21, 2012 Introduction The construction of the new theme park project is laid out for 180 days of construction to finish. This project has a start Date of Monday April 4, 2008. The preliminary cost is $4,449,920.00 and with a completion date of December 19, 2008. The theme park will include a Ferris wheel, Rope course, Climbing walls, Carousel, Bowling, Go carts, and a Mini golf. The desired walk through date is December 18, 2008 with a grand opening on December 19, 2008. Executive Summary It has been 6 months since the start of the project and we now have 40% of the tasks complete. The actual cost so far to date is $1,230,683.00. There are many of the scheduled tasks behind in this schedule. The entire project thus far is behind schedule with a work performance index of .66 and 12% behind schedule. There are corrective actions that can get this project beck on schedule at minimal cost. This project should not be abandoned and should continue forward with the support of the investors. Schedule 1 This data is being supplied from MS Project. The WBS includes all work that has to be done to complete the project from start to finish. The current WBS includes all the data and baseline, review date and the current date is set to October, 1, 2008. The project start date is April, 14, 2008. Nearly 6 months into the project it is set at 40% complete. This shows the project is behind schedule. The...
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...Budget Report Week 2 Assignment ID Task Name Total Cost 1 Equipment Equipment 1 $15,000 Equipment 2 $35,000 Electrical hook up $10,000 Equipment total cost $60,000 2 Material Start up material $9,990 2 controls for each piece of equipment $1,200 Material total cost $11,190 Equipment and Material Total Cost $71,190 3 Installation Company labor $1,120 Installation total cost $1,120 4 Labor Contract labor $7,500 Labor total cost $7,500 5 Overhead Engineering estimated to be 15% of (equipment /Material) $10,679 Inspection estimated to be 3% of labor cost $259 General and Administrative expenses are estimated to be 5% of the total of equipment/material and labor $3,991 Overhead total cost $14,928 Total project cost $94,738 2.2 Three Point estimate Problem (A) Expected price = (0.24 + (4 x 0.3) + 0.60/6 $0.34 lbs (B) Expected Steel usage = (49tons + (4 x 40tons) + 37tons) / 6 41 Tons 82000.00 lbs ( C) Expected Steel...
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...1. A-crash cost per day per activity is as follows A= $25 B=$75 C=$150 D=$25 B. Activities B,D should be crashed to meet the deadline C. The extra cost associated to crash the project is crash cost of B$75+crash cost of D$25=$100 2. A. Some of the basic requirements for the project plan in order for EVM to be able to work are: - A project plan that identifies work to be accomplished, a value of planned work or Planned Value (PV) or Budgeted Cost of Work Scheduled (BCWS), and defined Earned Value (EV) or Budgeted Cost of Work Performed (BCWP). EVM implementations can include indicators and forecasts of cost performance (over budget or under budget) and schedule performance (behind schedule or ahead of schedule). However, the basic requirements of using EVM is that it has progress using PV and EV. B. It is a process used to find variances in projects based on the comparison of worked performed and work planned. EVM is used on the cost and schedule control and can be very useful in project forecasting. Earned Value Management will let you know the actual state of the project by comparing your current project performance against your plan. Knowing the project's performance will let you take actions needed to ensure that the project is completed on time and within budget. Like any tool, in order for EVM to be successful, it very important that it is used correctly. 3. A. The resource conflict that occurs is between activity C and D between days 5-9. Both of these...
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...The central idea of marketing is of a matching a company’s capabilities and the wants of customers in order to achieve the objectives of both parties. Therefore, marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services in order to create exchanges that satisfy individual and organisational goals. When Adam Smith said that consumption is the sole end and purpose of production he was in fact describing what has in recent years become known as the marketing concept. The marketing concept implies that all the activities of an organisation are driven by a desire to satisfy customer needs. In order to satisfy customer needs it is essential for today’s businesses to create a marketing plan. Marketing planning is concerned with adapting the organisation to a changing environment. Long-term success in current competitive markets requires a co-ordinated approach to meet customer needs better than competitors. All companies have a set of capabilities in the form of resources and management skills, which are not necessarily capable of taking advantage of all market opportunities as effectively. Marketing planning is a logical sequence and a series of activities leading to the setting of objectives and the formulation of plans for achieving them. The marketing plan operates at two levels. The strategic marketing plan lays out the broad marketing objectives and strategy at the corporate level. It analyses the marketing...
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...Introduction Oil is an essential part of our everyday living. Historically, the oil and natural gas industry have accounted for approximately 10 percent to 25 percent of the state’s GSP, a trend that roughly tracks the price of oil. drilling rig bores a hole into the earth through which steel pipes are inserted. Pipes or casings like cement would then be put in between for strength as well as for separating different pressure zones- if they exist. The well is then drilled further, and more casings are added. At times, 2-3 layers of casings would be built depending on the geological composition of the zone. The rotator table then passes the drill string onto the hole. The drill string rotating by 'top drive' or 'power swivel' mechanism extends the drill bit. This extension is done with the help of the derrick (the structure holding the drill string). The drill bit then cuts the rock into pieces. Drilling fluid, also called mud-mixture of fluids, chemicals, abrasives and solids - is then pumped down the drill string. This fluid clears the cut rock bits onto the surface. Compressed air is substituted for the fluid, at times. In turbo-drilling, a turbine is placed in the drill string. Mud flows through this turbine causing the drill bit to rotate. This hydrocarbon-rich mixture of crude oil and gases runs our factories, our cars, heats some homes and has provided Americans with an unprecedented standard of living since its discovery in America in 1859. Petroleum is an extremely...
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...Executive Summary Caring Shoulders To Lean On (CSTLO) is a for-profit shelter in the Greater Cleveland area that offers homeless women and their children a meal and a place to rest their head. CSTLO provides short-term and long-term care to women who are homeless and to their children. Due to the slump in the economy more women and their children will be facing homeless for the first time. My proposal is to expand our operation into a premier social service and human development agency that serves and advocates for women. We will be the only regional shelter in the Greater Cleveland area that provide resume writing, dress for success, interview techniques, computer classes, life skills training workshops, parenting classes, employment and educational resources, information and referrals to off-site services, job preparation, drug counseling, financial counseling, communication skills building, and personal and child welfare information. The overall cost for this project is $3.0 million. Most of our funding will come in the form of government grants. I have secure 2.6 million from the County, State, Federal and private fund. In order to get this project up and running and to expand our business we need to secure a building and have this project up and running in 48 weeks. CSTLO need to shift their operations to meet consumer’s demands. We will be doing the right thing by restructuring the way we do business and we will be taking actions and making decisions about the future...
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...Problems 6-1: Forecasting project completion (Ungraded) A project has been estimated to take six weeks and cost $130,000. Cost and percent complete data are provided in the table below through 3 weeks of the project. % scheduled data can be obtained from the Gantt chart following the table. Task | $/Task | Week 1 | Week 2 | Week 3 | Week 4 | Week 5 | Week 6 | A | $5,000 | 100% | 100% | 100% | | | | B | $10,000 | 50% | 70% | 100% | | | | C | $25,000 | | 40% | 80% | | | | D | $30,000 | | 20% | 45% | | | | E | $10,000 | | | | | | | F | $20,000 | | | | | | | G | $20,000 | | | 50% | | | | H | $10,000 | | 80% | 100% | | | | | ACWP | $12,000 | $38,000 | $66,000 | | | | Task | BAC | % Comp | BCWP (EV) | BCWS (PV) | ACWP (AC) | cv | sv | cpi | svi | A | $5,000 | 100% | $5,000 | $5,000 | $5,500 | ($500) | $0 | 0.91 | 1.00 | B | $10,000 | 100% | $10,000 | $10,000 | $9,500 | $500 | $0 | 1.05 | 1.00 | C | $25,000 | 80% | $20,000 | $25,000 | $19,000 | $1,000 | ($5,000) | 1.05 | 0.80 | D | $30,000 | 45% | $13,500 | $20,000 | $12,500 | $1,000 | ($6,500) | 1.08 | 0.68 | E | $10,000 | | | | | | | | | F | $20,000 | | | | | | | | | G | $20,000 | 50% | $10,000 | $10,000 | $9,000 | $1,000 | $0 | 1.11 | 1.00 | H | $10,000 | 100% | $10,000 | $10,000 | $10,500 | ($500) | $0 | 0.95 | 1.00 | | $130,000 |...
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...Project Proposal: Local Grind To Investors Investing PM592 – Summer 2011 Executive Summary When you think of coffee in the Northwest, most people know there is Starbucks and small coffee shops. Coffee shops have become a familiar feature of American communities, not only for the purchase of a morning cup of coffee and snacks, but for mid-day and evening as well. With the introduction of fancy espresso-based coffee and drinks, people are spending between $3 and $6 for their cappuccino, mocha latte, vanilla ice blended drink, or other flavored drink that may be coffee based. Privately owned coffee houses have been on the increase for over 20 years because they are relatively recession proof. Leading companies, such as Starbucks and Peet’s, are located in almost every major city in the US. Small unique coffee shops like the Local Grind are able to compete with these larger chains; they are able to develop competitive advantages by catering to the specific demographics of their location and by personalizing their services to cater local needs. Our goal is to provide quality coffee related services and products by capitalizing on an untapped demographic that has many potential un-serviced customer. To accomplish our goals, we are requesting $100,000 from your company, as an initial investment to set up operations. We plan to invest an additional 20% from our own resources, up front, for the start up operational costs. Local Grind is scheduled to open for business...
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...Problems 4-1 through 4-3 (Ungraded) 4-1 Resource leveling problem The following data were obtained from a project to build a pressure vessel: Activity Duration Predecessors Resources/Cost | A 4 weeks -- 1 Cutting Platform/$800 day. | B 4 weeks -- 1 Sand Blast Machine/$1,000 day. | C 3 weeks B 1 Rolling Mill/$750 day. | D 2 weeks A,C 1 Automatic Welder/$1,000 day. | E 3 weeks B 1 Rolling Mill/$750 day. | F 5 weeks D,E 1 Sand Blast Machine/$1,000 day. | The fabricator has only one machine of each type available at the above costs, and operations cannot be split (i.e. once started, the task must finish). Additional equipment can be rented at a 75% cost premium if needed. Hint: A premium implies you pay an amount above and beyond the current amount. a. Identify any resource conflicts in the above project. State the activities involved, the time frame of the conflict(s), the resources in conflict and the quantity of resource involved. Hint: The key to this problem is the layout you choose for the project. To identify resource conflicts, the schedule will have to include a timescale. b. What is the least cost method of resolving the conflict(s), assuming the project duration must not be extended? What additional cost, if any, will be incurred? Hint: The...
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...PM 592 Project Cost and Schedule Control Executive Summary After reviewing the project costs, schedules, and earned values I have realized that there are some concerns with the schedule and costs. I have found that there are some tasks that have put the project behind schedule and over budget. After reviewing the project closely and making the adjustments by requesting and adding additional percentage for resources to the builder, plumber, electrician, hvac, and the ferris wheel supplier it will bring the project back on track and under budget. Which if you review the revised schedule you will find that the new schedule will still allow the theme park to open on time and within budget. Schedule 1 [pic] Performance Analysis Based on the Earned Value Management I have found that there are a couple stages behind schedule and once complete will end up over budget. Phase 1.5 Joists and Roof Deck is currently at 76% completion and is behind schedule, according to the charts once this is complete will end up finishing late and over budget. The responsibility of this task is on the Builder. Phase 1.7 Rough Carpentry is currently at 65% completion and also is behind schedule, this phase also will end up finishing late and over budget. Once again this task responsibility is on the Builder. Phase 1.11 Elevator is currently at 76% completion and also is behind schedule, this phase also will end up finishing late and over budget. Once again this task responsibility is on...
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...Instructions: Please complete all 3 multi-part problems for this week's assignment. 2-1 Basic Estimating Problem Please look at the Attached Excel sheet for answer for first problem only. 2-2 Three-point Estimate Problem (a) Data: a = the best case estimate = $0.24/lb. m= the most likely estimate = $0.30/lb. b= the worst case estimate = $0.62/lb. Answer: We have to determine the E-value: E = (a + (4*m) + b) /6 E = (0.24 + (4 * 0.30) + 0.62)/ 6 E = $0.34/lb. (b) Data: a = the best case estimate = 37 tons m= the most likely estimate = 40 tons. b= the worst case estimate = 49 tons Answer: We have to determine the E-value: E = (a + (4*m) + b) /6 E = (37 + (4 * 40) + 47)/ 6 E = 40.66 tons or 41 tons if you want to round it up. (c) Using the estimates from 1 & 2, what is the expected cost for structural steel over the life of the project? ( 41 tons * 2000lbs.) = 82,000 lbs. Therefore, the estimates would be: $0.34/lb * 82,000 lbs = $27,880 (d) Using the "Complex" three-point method, what is the expected cost for structural steel over the life of the project? Expected cost: $0.34/lb * 82,000 lbs = $27,880 Most optimistic cost: $0.24/lb * 74,000 lbs = $17,760 Most pessimistic cost: $0.62/lb * 98,000 lbs = $60,760 The final estimated cost for the material is: (($17,760 + (4 * $27,880) + $60...
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...To: Kara Rose (Marketing Director) Jessie Megana (R & D Director From: (Project Manager) Subject: Development of New Vision System High Resolution Camera ------------------------------------------------- Date: 11/03/2012 Following our meeting on above subject and your directive for me to organize the product development process for the project I have employed a Work Breakdown Structure (WBS) will be used to organize the work elements of the project. Overview of the Work Breakdown Structure The Work Breakdown Structure (WBS) is the tool for breaking down a project into its component parts. It identifies all the tasks in a project that are the foundation for all subsequent planning. The WBS starts with the list of requirements and specifications, which in turn suggest the end-item, deliverable, or system of the project and its major subsystems and components; they also specify which of the systems will be met externally (by suppliers/subcontractors) and which internally. The purpose of the WBS is to define the total project into “pieces of work” or small manageable tasks known as work packages. Decomposition makes it easier to prepare project schedules and cost estimates, and to assign management and task responsibilities. In a WBS the top layer is very general, and each subsequent layer is more and more specific. Every level in the WBS is the detailed explanation of the level above it. Building a WBS helps to: * Provide a detailed and comprehensive illustration...
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...PM592 Week One You Decide TO: Kara Rose, Marketing Director and Jessie Megana, R&D Director VisionTec, 38 Washington Street, Newburyport, MA 01950 SUBJECT: New Vision System Camera for the Pharmaceutical Market In an effort to increase sales in the lucrative Pharmaceutical Market, Vision Tec is investigating a way to create a high-resolution camera system to inspect drug labels ensuring they contain the proper information to meet the ever evolving governmental standards. The Work Breakdown Structure (WBS) is graphical representations of tasks which need to be completed in order complete the project. The New Vision System project will be broken down into three sub-activities (phases). Each phase will be assigned to an organizational working group and broken down in to work packages which may be decomposed further as the project proceeds. New Vision System Project 1.0 Market Feasibility 1.1 Interview Customers 1.2 Determine market trends 1.3 Test Market 1.4 Identify Target Market 2.0 Concept Feasibility 2.1 Study System 2.3 Define User Requirements 2.4 Prepare Report 3.0 System Development 3.1 Software 3.1.1 Packaging 3.1.2 Customize Software 3.2 Hardware 3.3 Network 3.4 Prepare Report Vision Tec Project Vision Tec is an advanced technology company who develops high tech products for...
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