Thursday, February 27, 2020

Project management Essay Example | Topics and Well Written Essays - 2500 words - 1

Project management - Essay Example As recommended by literature (Field and Keller 2007, p.198), the forward pass mode has been used for calculating the ETS for each of the activities. The mode is based on the assumption that all previous activities have been finalised. The following equation has been used in calculating its values: ETSj  = max (ETSi  + Ti  Ã¢â‚¬â€œ i - when an activity is linked to j on an arc from i to j). The values of ETS for each of the activities are provided in a Table 1. Early Finish Time (EFT) is calculated by adding the duration time of each activity to its ETS. The Late Start Time (LTS) is calculated through the use of backward pass mode. It is based on the assumption that the latest time the last event can occur is equal to the last event ETS. The following equation has been used in calculating its values: LTSi  = MIN (LTSj  - Ti  -j is an activity linked to i on the path from i to j). The values of LTS for each of the activities are provided in a Table 1. Float The total float in the scheduling provides information on the accepted event delay that will not result in total delay of the whole project (Field and Keller 2007, PMI 2008). It is the difference between the LTS and ETS of each project activity, i.e. Fi = LTSi–ETSi 3. The project duration and the critical path. The minimum required time for the completion of the project is 80 days. A final step in designing the network is the identification of the critical path. A critical path is made out of the critical activities of the project. An activity is assessed as critical when if delayed, will cause a delay of the whole project duration by an equal amount of time (Field and Keller 2007:183, PMI 2008). For a critical activity: The ETS and the LTS of the activity must be equal at the each node; The Float must be equal to 0; Table 1. Task Name Duration Pred. Early Start Early Finish Late Start Late Finish Float Critical path A 4 - 0 4 0 4 0 yes B 4 A 4 8 4 8 0 yes C 2 A 4 6 14 16 10 no D 6 A 4 10 10 16 6 no E 5 A 4 9 11 16 7 no F 8 B 8 16 8 16 0 yes G 10 C,D,E,F 16 26 16 26 0 yes H 7 G 26 33 26 33 0 yes I 6 H 33 39 33 39 0 yes J 5 H 33 38 34 39 1 no K 7 I,J 39 46 39 46 0 yes L 14 K 46 60 46 60 0 yes M 8 L 60 68 60 68 0 yes N 2 M 68 70 68 70 0 yes O 2 N 70 72 76 78 6 no P 8 N 70 78 70 78 0 yes Q 2 O,P 78 80 78 80 0 yes 1. Different Project Scenarios If the project starts on Monday 21st, May, 2011, what is the earliest date it can be completed using a 5 day working week? For calculating the schedule and the earliest date the project can be completed, the project management tool - Gant chart is used, presented in Appendix 2. The calculation is as follows: the total duration project of the (80) is divided with 5 (working days in the week) = 16 weeks. The earliest date is for completion of the project is Friday, September 2nd, 2011. If the following happened what would be the effect on the duration of the whole project? Explain the reasons. a. A two day delay in activity

Tuesday, February 11, 2020

Government Intervention in Market Operations Essay

Government Intervention in Market Operations - Essay Example In addition, the firm may create differences in employee skills like the education level or training received. Products may be differentiated through the distribution of the products. This could occur through internet shopping like the Amazon.com that is a modern online store and differentiates itself from the traditional stores. This type of market structure is realistic since there is product differentiation. Firms make independent decisions in regards to prices and production costs (Bordo & Humpage, 2006). In addition, since there are no major barriers to market entry or exit, people are free to enter or leave the market. Moreover, firms make independent decisions in regards to price and the output as well as the production costs. The U.S government has implemented the fiscal policy that helps control the level of demand for different products as well as the economic demand pattern. It generally describes the impacts on the aggregate economy and the overall spending and taxation. Taxes are the major source of revenue by the government. The government also provides subsidies and contracts to public works as well as the salaries of the employees. The taxation and spending are sources for driving demand and increase the growth of the economy. Fiscal policy entails the government making a decision about the goods and services it buys, the collection of taxes and distribution of transfer payments. The main goal of the fiscal policy is to observe and maintain a high economic growth as well as ensure there is full employment (Fatum & Hutchison, 2003). Moreover, it helps the U.S government make decisions on whether it will spend more or less than it gains. There are two types of Fiscal policy, the expansionary, and th e contractionary policy. The main objective of the expansionary policy is to create growth and stimulate the economy. In addition, the government either reduces taxes or spends more.  Ã‚