MGT 302 Final Exam

Coverage: • The Goal • Project scheduling (Ch.14) • Inventory management (Ch.15) • MRP system • Supply chain management Chapter 14: Project Scheduling -Distinguishing characteristics of project -Output -Precedence relationships -Temporary -Objectives and tradeoffs in project management -cost -tradeoff: stay within the budget -performance -tradeoff: meet the specifications -schedule -tradeoff: meet the deadline -Gnatt chart (in notes) -precedential relationships -Network methods -immediate predecessor/successor -allows for precise determination of the critical path and slack, and they allow the rapid evaluation of proposed schedule changes Forward pass analysis -Early start/Early finish -Early start time is zero for all starting activities -ES time is the Max[EF(all predecessors of x)] -EF time is the ES time plus the duration of the activity -project completion time is the Max EF time of all ending activities Backward pass analysis -Late start/late finish -LF= Min[LS(all successors of a)] -LS=LF-duration -the critical path is the path with the longest time path (path that takes the longest time to complete) -there is no total slacks or free slacks for activities on the critical path