Question

1. "Step X of a project has been budgted for 600. It is 50% complete. You have spent 400 so far. Are you overbudget or underbudget. If you are underbudget, indicate the amount as a negative number. If you are overbudget, indicate the amount as a positive number (no plus)."

2. "Step X of a project has been budgted for 600. It is 90% complete. You have spent 400 so far. Are you overbudget or underbudget. If you are underbudget, indicate the amount as a negative number. If you are overbudget, indicate the amount as a positive number (no plus)."

3. "A project has 3 steps, Step 1 is 200 overbudget. Step 2 is 500 underbudget. Step 3 is 100 overbudget. Is the project overbudget or underbudget. Enter a negative number for underbudget. Enter a positive number for overbudget (no plus)."

4. "A project has 3 steps, Step 1 is 900 overbudget. Step 2 is 500 underbudget. Step 3 is 100 overbudget. Is the project overbudget or underbudget. Enter a negative number for underbudget. Enter a positive number for overbudget (no plus)."

5. "Step X normally takes 4 weeks and $800. You can crash it to 2 weeks and it cost $ 1200. What is the weekly crash cost? If this impossible, enter -999."

6. "Step X normally takes 4 weeks and $800. You can crash it to 2 weeks and it cost $ 1800. What is the weekly crash cost? If this impossible, enter -999."

7. "Step X normally takes 1 weeks and $800. You can crash it and it will cost $ 1200. What is the weekly crash cost? If this impossible, enter -999."

8. "Step X normally takes 4 weeks and $800. You can crash it to 4 weeks and it cost $ 1200. What is the weekly crash cost? If this impossible, enter -999."

9. "Step X: EST = 5, LST = 8, LFT = 9, What is EFT? (Enter -999 if node is impossible) "

10. "Step X: EST = 5, LST = 8, LFT = 7. What is the EFT? (If the node is in error, enter -999)"

11. "Step X: EST = 8, LST = 12, LST = 9, LFT = 12. What is slack? (enter -999 for impossible nodes) "

Answer 1

1. Budgeted cost for 50% completed project = 50% of $600 = $300

Expenditure made so far = $400

We are therefore overbudget by = $400 - $300 = $100

OVERBUDGET = $100

2.Budgeted cost for the 90% completed project = 90% of $600 = $540

Expenditure made so far = $400

We are therefore underbudget by = $540 - $400 = $140

UNDERBUDGET = - $140

3. Total amount of overbudget = $200 + $100 = $300

Total amount of underbudget = $500

Project is net underbudgetby = $500 - $300 = 4200

UNDERBUDGT = - $200

4. Total amount of overbudget = $900 + $100 = $1000

Total amount of underbudget = $500

Project is overbudget by = $1000 - $500 = $500

5. Weekly crashing cost

= ( Crash cost – Normal cost ) / ( Normal duration weeks – Crash duration weeks )

= ( 1200 – 800 ) / ( 4 -2 )

= 400/2

= $200

6. Weekly crashing cost

= ( Crash cost – Normal cost ) / ( Normal duration weeks – Crash duration weeks )

= ( 1800 – 800 ) / ( 4 – 2 )

= 1000/2

= $500

7. The step is crashed from 1 week it means it will complete in ZERO weeks. Assuming a step can be completed in ZERO time ( read ‘negligible time’) ,

Weekly crashing cost

= ( Crash cost – Normal cost ) / ( Normal duration weeks – Crash duration weeks )

= ( 1200 – 800 ) / ( 1 – 0)

= $400

8. Crashing of a step means reducing duration of the step. It is thus not possible to crash a project of normal duration of 4 weeks to same number of weeks i.e with no reduction in duration.

Answer is : IMPOSSIBLE ( - 999)

9. Slack = LST – EST = 8 – 5 = 3

Also

Slack = LFT – EFT

Or EFT = LFT – Slack = 9 – 3 = 6

EFT = 6

10. LFT stands for Late Finish time and LST stands for Late Start time .

Given ,

LFT = 7 and LST = 8

Since LFT should always occur after LST ,

It must be that LFT > LST

However that is not the case here.

Therefore answer is : ERROR ( - 999)

11. There cannot be two different values of Late start Time ( LST ) for the same step . Therefore Slack cannot be calculated.

Answer : IMPOSSIBLE ( - 999)