Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Using Microsoft Project answer the two questions below: Widget Toy Company Frank Girardi is a project manager at the Widget Toy Company ( Widget )
Using Microsoft Project answer the two questions below:
Widget Toy Company
Frank Girardi is a project manager at the Widget Toy Company Widget based on Kalamazoo,
Michigan. Frank just submitted a proposal to the new product review committee for funding of a
new children's toy based on a recentlyreleased motion picture. Frank feels that if he can get the
product out for the Christmas buying season, Widget could take advantage of what he felt was
strong but timesensitive market demand. It is now Monday, July and Frank knew
that he would have to have the project complete and the product in stores by Monday, November
to meet the Black Friday shopping day November th
Frank expected approval from the committee ie Activity A in Table at the end the week
Friday July th at which time he would begin coordinating the development and launch of the
new project. Since Frank is an experienced project manager, he has already laid out a
preliminary set of activities as shown in Table
Based on his schedule, Frank felt that he could start work on some activities as soon as the
funding approval was received, such as finalizing the product design and placing an order for the
new equipment needed to produce the toy. However, many of the other activities had to be
performed sequentially. For example, worker training cannot be completed until the equipment
is installed and the dies and tools for the machine are built. Similarly, raw materials cannot be
ordered until the build diestools and advertising plan are completed since both will influence
raw material selection for components of the toy
At first glance, Frank is concerned about the delivery schedule. Currently, Frank only sees two
potential options for shortening the overall project duration:
After talking with the marketing manager, Margaret Cone, Frank learned that the he
could reduce the time spent on product advertising Activity K in Table However,
Margaret estimated that for each week of lost advertising, sales of the product would
decrease by Margaret also indicated that anything less than weeks of advertising
would be insufficient for this type of new product.
Frank also spoke with Jeff Stevens, the production manager at the tool shop. While
the tool shop staff were accustomed to working a standard dayhour work week as
with all Widget employees Jeff offered to speed up the diestools build up Activity E
through overtime. If the tool shop staff worked overtime each and every week at an
additional total cost of $ Jeff felt that they could reduce the time to complete the
building of the dies and tools by three weeks...if Frank could cover the additional cost.
Table provides a high level estimate of projected financial information for the proposed new
toy. Based on this information, develop a schedule in MS Project or another scheduling tool of
your choosing and answer the following questions:
When is the overall project slated to be completed? Will it finish by the stated deadline?
What actions if any does Frank need to take to make the project as successful as possible? If no actions are required, which tasks pose the greatest risk to the project and
why?
Widget Toy Company
Table : Activities for New Product Development
Activity Description Predecessors Duration Weeks
A Obtain funding approval
B Finalize product design A
C Order new equipment A
D Receive new equipment C
E Build diestools B
F Install equipment D
G Train workers E F
H Debug process G
I Establish advertising plan B
J Finalize packageart work I
K Advertise J
L Order raw materials E J
M Receive raw materials L
N Complete initial production H M
O Ship product N
P Project completion KO
Widget Toy Company
Table : Data from New Product Proposal
Projected sales units
Proposed unit price $
Projected sales revenue $
Projected cost for units $
Projected profit for units $
Required profit margin for all new products Widget Toy Company
Table : Data from New Product Proposal
Projected sales units
Proposed unit price $
Projected sales revenue $
Projected cost for units $
Projected profit for units $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started