Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In a project there are N tasks to be performed with the following data: N=number of task (task N last) (j=1,2,..,N) pj=duration of task j

In a project there are N tasks to be performed with the following data: N=number of task (task N last) (j=1,2,..,N) pj=duration of task j (number of periods) cj=cost of performing task j per period (payment), TL.

rj=revenue (cash) that will be collected when task j is completed,TL.

Bj=set of immediate predecessors of task j

Aj=set of immediate successors of task j

K0=amount of cash available at the start of the project fc= interest earned for cash per period (lending rate)

During the project when a task j is performed in a period a cash payment of cj TL is made and a revenue of rj TL is collected when task j is completed. Available cash in any period can be invested to bring a return of fc interest next period. Management does not want to allow cash available in any period be negative. Preemption of tasks are not allowed. For parts (b)-(e) describe only the changes that are needed to be done on the model of part (a). The models you develop must be in a form (Linear Expressions) that they could be solvable by commercial programming codes (like LINDO, GAMS, etc.) and clearly state the following: i) decision variables ii) additional parameters iii) constraints and objective function iv) assumptions (if any)

c) Consider the model of part a. Suppose for each task j we have two alternative durations as pj1 > pj2 and their respective unit time costs as cj1 < cj2. How would you modify the model?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Auditing And Assurance Services

Authors: Philomena Leung, Paul Coram, Barry J. Cooper, Peter Richardson

6th Edition

1118615247, 9781118615249

More Books

Students also viewed these Accounting questions

Question

This AI is dogshit

Answered: 1 week ago

Question

Do you think the banquet is a ritual? Why or why not?

Answered: 1 week ago

Question

How can speakers enhance their credibility?

Answered: 1 week ago