Calculate minimum costs, times, and cost schedules
Consider the following table of crash times and costs for the above project.
Activity
normal time crash time normal cost crash cost
A 3 1 9000 17000
B 6 3 20000 40000
C 2 1 5000 10000
D 5 3 18000 24000
E 4 3 15000 18500
F 3 1 30000 39000
G 9 4 80000 98000
H 3 2 10000 20000
In the above table normal and crash times are in weeks. Costs are in dollars and represent the costs associated with the job in the specified period. For instance, Phase A will normally take 3 weeks and cost $9000, OR $3000 PER WEEK. To crash the job to one week, the total cost will be $17000 for the week, thus it will cost $4000 for each week crashed.
a. What is the minimum cost to crash the project one (1) week? What activity will be crashed?
b. What is the least amount of time the project can take if fully crashed? What will the project cost fully crashed?
c. Develop a cost schedule for total project cost from finishing in the normal time to maximum crashing, ie. cost to finish in normal time , cost if crashed one week, cost if crashed two weeks, etc. to minimum time to complete.