Project Management and Operations Management Assignment

This assignment provides solutions to various project management and operations management questions. The solutions cover topics such as project scheduling, critical path analysis, float calculation, and economic order quantity (EOQ). It includes numerical problems involving NPV calculations and project duration determination. The assignment also addresses theoretical questions on the four Vs of operations management, project lifecycle stages, different layouts in operations management, and the processes involved in project risk management. Furthermore, there are multiple-choice questions testing the understanding of project management concepts. The assignment offers a comprehensive overview of project management principles and practices.

Activity X has a duration of 15 days, its Early Start Time is day 10 and its Late Finish
Time is day 25. Which of the following is true?
Group of answer choices
Activity is on the critical path
The float for this activity is 15
Its Early Finish Time is 10
This is the last activity of the project
Which of the following is NOT a project?
Group of answer choices
A construction company building a tower
A team designing a new car
A husband preparing a special dinner for his wife
A restaurant serving its customers
Numerical Question 1
ABC Electronics has to install 20 new projectors at LSBM in 20 days. The budget for
the project is £20,000 (£1,000 for each projector installed) and we are at the end of
day 10. So far, only 8 projectors have been installed and £12,500 have been already
spent due to an underestimation of project’s difficulty.
a) How long the project will take until completion?
b) How much will it cost in total?
Numerical Question 2
Required rate

= 10%
Year 0 Year 1 Year 2 Year 3 Year 4
Project A Outflows -400,000
Inflows 130,000 130,000 130,000 130,000
Project B Outflows -250,000
Inflows 72,000 72,000 72,000 72,000
a. Which of the projects above has the highest NPV? What is its NPV?
b. What is the payback period for Project A?
Numerical Question 3
Activity Immediate follower Duration
(weeks)
A E 12
B F 7
C D,G 9
D F 3
E F 6
F H 3

G H 10
H End 8
Based on the information above answer the following questions.
a. What is the duration of the project?
b. What is the Early Start Time of Activity D?
c. What is the Early Finish Time of Activity E?
d. What is the Late Finish Time of Activity B?
e. What is the Slack/Float of Activity F?
Numerical Question 4
We need to mark 230 exam scripts in one week. The staff for this job will work 8
hours per day from Monday to Friday and 6 hours on Saturday. It takes 60 minutes
to mark a script.
a. How many markers do we need?
b. How much is the Throughput Efficiency?
Numerical Question 5
A water distributor sells 150 20lt tanks per month (1,800 per year) and purchases in
quantities of 900 per order. The cost accounting department has analysed inventory
costs and has determined that the cost of placing an order is £40 and the annual
cost of holding one 20lt tank in inventory is £4.
a. Under its current policy of ordering, what is the water distributor’s total annual
inventory cost?
b. What is the Economic Order Quantity?
Numerical Question 6

In a car manufacturing factory that operates from Monday until Saturday (6 days a
week). A particular machine is programmed to run for 144 hours - its loading time.
Changeovers and set-ups take an average of 25 hours per week (Mon-Sat).
Breakdown failures average 2.5 hours per day. The machine works on 90% of its full
speed. Five per cent of the parts processed by the machine are found to be defective
in some way.
a. How much is the valuable operating time?
b. What is the availability rate?
Write your answer below. Remember to indicate which Numerical Question you are
answering.
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Write your answer below. Remember to indicate which Numerical Question you are
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Write your answer below. Remember to indicate which Numerical Question you are
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Answer TWO out of four questions. Remember to indicate which question you
are answering.
Question 1
What are the four Vs in Operations Management? Use the 4 V framework to
compare a fine dining restaurant and McDonalds.

Question 2
Which are the main stages in a project’s lifecycle? Use the example of a university
graduation ceremony project to discuss what happens at each stage.
Question 3
Discuss the main layouts in operations management? Write key advantages and
disadvantages for each layout and quote examples where possible.
Question 4
What are the main processes in project risk management? Use the example of
project managing a concert to describe what is done within each process to manage
project risks.------100 word per questions.
The project manager has just met with her team to discuss ways to reduce the
impact and probability of identified risks. This meeting would be an example of:
Group of answer choices
Analysis of probability and consequences
Risk identification
Risk control and documentation
Risk mitigation
Which term do we use to refer to money that has been spent in the past and should
not be taken into account when deciding the approval of a project?
Group of answer choices
Sunk costs
Intangible costs
Indirect costs

Direct costs