Critical ratio is calculated as (actual progress/schedules
progress)*(budgeted cost/actual cost)
Critical ratio is the product of two separate ratios.
Activity A: Plan changes
Budgeted cost=$60
Actual cost=$40
Critical ratio =1
So, (actual progress/scheduled progress)*(budgeted cost/actual
cost)=1
=>(actual progress/scheduled progress)*60/40=1
=>(actual progress/scheduled progress)=40/60=.66
This means that actual progress is less than scheduled progress as
the value of their ratio is less than 1.
Activity B: Solicit bids
Budgeted cost=$25
Actual cost=$50
Critical ratio =.5
So, (actual progress/scheduled progress)*(budgeted cost/actual
cost)=.5
=>(actual progress/scheduled progress)*25/50=.5
=>(actual progress/scheduled progress)=.5*50/25=1
This means that actual progress is same as scheduled progress as
the value of their ratio is 1.
Activity C: Select contractor
Budgeted cost=$45
Actual cost=$30
Critical ratio =1.5
So, (actual progress/scheduled progress)*(budgeted cost/actual
cost)=1.5
=>(actual progress/scheduled progress)*45/30=1.5
=>(actual progress/scheduled progress)=1.5*30/45=1
This means that actual progress is same as scheduled progress as
the value of their ratio is equal to 1.
Activity D: Schedule date
Budgeted cost=$20
Actual cost=$20
Critical ratio =1.5
So, (actual progress/scheduled progress)*(budgeted cost/actual
cost)=1.5
=>(actual progress/scheduled progress)*20/20=1.5
=>(actual progress/scheduled progress)=1.5
This means that actual progress is more than scheduled progress as
the value of their ratio is more than 1.
Activity E: Start renovation
Budgeted cost=$50
Actual cost=$50
Critical ratio =.67
So, (actual progress/scheduled progress)*(budgeted cost/actual
cost)=.67
=>(actual progress/scheduled progress)*50/50=.67
=>(actual progress/scheduled progress)=.67
This means that actual progress is less than scheduled progress as
the value of their ratio is less than 1.
Now we need to find the activities that are on time, early and
behind schedule.
Activity A: Plan changes
Actual progress is less than scheduled progress, so this activity
is behind schedule.
Activity B: Solicit bids
Actual progress is same as scheduled progress, so this activity is
on time.
Activity C: Select contractor
Actual progress is same as scheduled progress, so this activity is
on time.
Activity D: Schedule date
Actual progress is more than scheduled progress, so this activity
is progressing early.
Activity E: Start renovation
Actual progress is less than scheduled progress, so this activity
is behind schedule.
3. Given the following information about a showroom reno- vation, which activities are on time, which...
1. Given the following information, calculate the critical ratios, and indicate which activities are on target and which need to be investigated. Comment on the situation for each of the activities. Actual Scheduled Budgeted Actual Activity Progress Progress 2 days 4 days 1 day 3 days 2 days 6 days 3 days 2 days Cost S40 S30 S50 $25 Cost S35 S40 S70 S25
1
2
3
An athletic shoe store franchise is planning to open a new location. Which information would be included in the sales forecast section of the business plan? Approximately 100,000 residents live within three miles of the new location. 52 percent (52,000) of them are between the ages of 20 and 54. To support the local community, the store owner will develop a youth and adult running club with 150 members by the end of the ninth month of...
5. All of the following are true about projects and operations EXCEPT: A Operations are ongoing endeavours that produce repetitive outputs, with resources assigned to do basically the same set of tasks according to the standards institutionalzed in a product life cycle, whereas projects are temporary endeavours Projects require project management activities and skill sets, whereas operations require business process management, operations management activities, and skill sets. Projects can intersect with operations at various points during the product life cycle....
CASE STUDY 13.3 “Dear Mr. President—Please cancel our project!”: The Honolulu Elevated Rail Project Speaking on the status of Honolulu’s Elevated Rail public transport system, former Hawaii Governor Benjamin Cayetano had an interesting message for President Trump: “As a lifelong Democrat and former governor of Hawaii, I opposed your candidacy. I must admit, however, that you are on the right track scrutinizing wasteful spending on pork barrel projects.” The admission by former governor Cayetano was prompted by the latest details...
I have this case study to solve. i want to ask which
type of case study in this like problem, evaluation or decision? if
its decision then what are the criterias and all?
Stardust Petroleum Sendirian Berhad: how to inculcate the pro-active safety culture? Farzana Quoquab, Nomahaza Mahadi, Taram Satiraksa Wan Abdullah and Jihad Mohammad Coming together is a beginning; keeping together is progress; working together is success. - Henry Ford The beginning Stardust was established in 2013 as a...
1. According to the paper, what does lactate dehydrogenase
(LDH) do and what does it allow to happen within the myofiber? (5
points)
2. According to the paper, what is the major disadvantage of
relying on glycolysis during high-intensity exercise? (5
points)
3. Using Figure 1 in the paper, briefly describe the different
sources of ATP production at 50% versus 90% AND explain whether you
believe this depiction of ATP production applies to a Type IIX
myofiber in a human....
Case: Enron: Questionable Accounting Leads to CollapseIntroductionOnce upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant “E,” slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm laid off 4,000...
CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant "E" slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm...
How can we assess whether a project is a success or a
failure?
This case presents two phases of a large business transformation project involving the implementation of an ERP system with the aim of creating an integrated company. The case illustrates some of the challenges associated with integration. It also presents the obstacles facing companies that undertake projects involving large information technology projects. Bombardier and Its Environment Joseph-Armand Bombardier was 15 years old when he built his first snowmobile...