Proposed Project Title : Industrial use of Fiber Reinforced Plastic (FRP)

PROJECT ECONOMICS - GROUP ASSIGNMENT 2

DEVELOP A PROJECT BUDGETARY AND FINANCIAL ANALYSIS BASED ON THE PROJECT MASTER PLAN FROM ASSIGNMENT 1

A) COMPILE A LIST OF ALL THE COSTS (ESTIMATES) FOR ALL THE ACTIVITIES AND TASKS. THIS WOULD BE IN THE FORM OF CASH OUTFLOWS.

THE ACTIVITIES AND TASKS :-

Fiber reinforced plastic use in many industries such as engineering structures, construction, etc.

This fiber provides macroscopic stiffness and strength, light weight and high durability. Critical path of any project will not remain same throughout its life. It can change during the course of project completion.

Critical path = The longest path

In project management, a critical path is the sequence of dependent tasks that form the longest duration, allowing you to determine the most efficient timeline possible to complete a project. Here's a rundown on how to calculate critical path in your project.

Getting back to our party example, let's assume that you have to do everything by yourself. We estimated the length of time each activity will take. Also, we determined the approximate start time for each task on the critical path. Here's what we came up with:

Now if we add up all of our critical tasks' duration, we'll get the approximate time that we need to complete the whole project. In our case, 3 days and 6 hours, since "make the ultimate playlist" and "set up the sound system" are not on the critical path. If we add the duration to the start time, we can calculate the earliest project completion time. Understanding the CPM allows us to make this calculation quickly and accurately.

Shortening the schedule time, one of the three variables given in the table is most important. Selection of these is major responsibilities of the project manage.

Time is major variables effect the project success. Best way is shorten is performing activities in parallel, sometimes they use crashing the schedule by adding resources for shortening but this cost more.

B) IDENTIFY THE PROJECT'S EXPECTED REVENUES OR PROFITS. THESE ARE THE CASH OUTFLOWS.

C) CONSTRUCT A PROFITABILITY (WORTH) ANALYSIS USING THE TIME VALUE OF MONEY CONCEPT, ASSURING THAT THE PROJECT CAPITAL WILL BE OBTAINED THROUGH A BANK LOAN.

D) CREATE THE PROJECT'S CASH FLOW DIAGRAM.