Problem:
A company has five (5) employees, which are to assigned five (5) projects. The dollar cost of each assignment (in $1,000s) arranged from employee 1 to employee 5, are as follows:
Employee 1 Employee 2 Employee 3 Employee 4 Employee 5
Project 1 $40 $30 $70 $60 $80
Project 2 $30 $50 $40 $60 $30
Project 3 $80 $93 $1,000 $75 $90
Project 4 $20 $10 $40 $20 $30
Project 5 $460 $480 $470 $510 $550
USING WHAT’S BEST ! FIND THE LEAST-COST MATRIX
Let’s say in the problem above a sixth employee, who can do all the projects, except one- Employee 6 cannot do Project 3- but can do the other projects at these cost:
Employee 6
Project 1 $58
Project 2 $50
Project 3 – NO BID
Project 4 - $27
Project 5 $450.
USING WHAT’S BEST ! FIND THE LEAST COST MATRIX – USING THE 6 EMPLOYEES.