Post Adventure

Read the Post Graduation Adventure case on p. 154 in Ch. 5 of Project Management: The Managerial Process and submit an APA paper for the following
Note:
– As a hint, you should have an intro paragraph, 3 sections in the paper body (1 for each question at 200 words for each question) and a closing paragraph.
– In item 1 you must clearly state the project management methodology (i.e Top down, waterfall, etc) you are using and then apply it to the trip project. As another hint there are 4 trips being looked at here originating from the USA….one to Spain…one to France…one to South Africa…one to Vietnam….do not ignore any of them in your discussion.
– When you discuss cost in item 2 I need to see real values…this means you will do some research on costs. Not looking for you to be a travel agent and provide costs to the penny but there should be enough data to be able to make a decision of where to go based on cost. Costs should include more than just an airline ticket (think of when you go on a trip and all the other costs involved in taking a trip like hotel, food, etc). As a hint, the easiest way to show, compare, discuss the costs is to place them in a matrix/table with the various locations you are going to and show the total cost for an easy comparison.
– Item 3 asks for non-cost; I need to see at least 2 non-cost items discussed and how they are impacting your decision on where to go for each location (for example, Spain and France weather are bad but Vietnam and South Africa have great weather so they are scoring higher based on the non cost factor of weather, etc, etc); only discuss non-cost items (you already have discussed cost in question 2). For example do not discuss money exchange rates here….that would be a cost factor. Something like the weather would be a non-cost item….and since I just gave you that one, weather cannot be one of your 2 items discussed….if it is in your paper you earn no points for it.
– In your paper conclusion I should see your recommendation of the single place of where to go based on your paper discussion/findings. This is where you have looked at both the cost and non cost factors to make a decision. You may find that cost might outweigh the non-cost items or possibly it is the other way around where non-cost drives the decision or possibly a combination of them both. The purpose of the assignment is to help you gain insight that when you are working on a project you should consider all factors involved and not rush to a decision based on one factor. Read the Post Graduation Adventure case on p. 154 in Ch. 5 of Project Management: The Managerial Process.
Format your responses consistent with APA guidelines.
PM
ATTACHED FILE(S)
Grading Guide

Content

Points Available
60

Points Earned

Additional Comments:

Readthe Post Graduation Adventure case on page 154 in Ch. 5 ofProject Management: The Managerial Process.
Completea response for each of the 3 subsequent questions in 200 words each.Take into consideration the requirements outlined in the project assignment instructions I have provided to you.
Formatyour paper consistent with APA guidelines.

Organization / Development/ Mechanics

Points Available
15

Points Earned

Additional Comments:

1. Paragraph transitions are present, logical, and maintain the flow throughout the paper.
1. The tone is appropriate to the content and assignment.
1. Sentences are complete, clear, and concise.
1. Sentences are well constructed, strong, and varied.
1. Section titles are used to define each of the sections of the charter.
1. The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements.
1. Intellectual property is recognized with in-text citations and a reference page.
1. Rules of grammar, usage, and punctuation are followed.
1. Spelling is correct.

Total Available

Total Earned

75

1184431 – McGraw-Hill Higher Education (US) ©
154 154 Chapter Chapter 5 5 Estimating Estimating Project Project Times Times and and CostsCosts
Post Post Graduation Graduation AdventureAdventure
JJosh osh and and Mike Mike met met each each other other as as rroommates oommates during during freshmen freshmen yyear ear at at MacAlisterMacAlister
College College in in St. St. Paul, Paul, Minnesota. Minnesota. Despite Despite a a rrockocky y start start they they became became best best friendsfriends..
They They are are planning planning on on going going on on a a twtwo o week week adadventure venture totogether gether to to celebracelebrate te theirtheir
graduagraduation tion in in JuneJune. . JJosh osh has has never never been been to to EurEurope ope and and wants wants to to visit visit FFrance rance oror
Spain. Spain. MikMike e spent spent a a semester semester aabroad broad in in AarhusAarhus, , Denmark, Denmark, and and tratraveled veled extensivextensivelyely
in in Northern Northern EurEuropeope. . Even Even though though he he nenever ver went went to to FFrance rance or or Spain, Spain, MikMike e wantswants
to to go go to to some some place place more more eexotic xotic liklike e South South Africa Africa or or Vietnam. Vietnam. FFor or the the past past weekweek
they they hahave ve been been arguing arguing back back and and fforth orth ovover er wherwhere e they they should should gogo. . JJosh osh argues argues thathatt
it it will will cost cost too too much much to to flfly y to to South South Africa Africa or or Vietnam, Vietnam, wwhile hile Mike Mike counters counters thathatt
it it will will be be much much cheacheaper per to to tratravel vel in in Vietnam Vietnam or or South South Africa Africa once once they they arare e therethere..
Each Each ofofthemthem agreed agreed thathat t they they can can spend spend no no more more than than $3,500 $3,500 each each on on the the triptrip
and and could could be be gone gone ffor or only only twtwo o weeksweeks..
One One evening evening wwhen hen they they were were ararguing guing with with each each other other oover ver beers beers with with friendsfriends,,
Sara Sara said, said, “W“Whhy y dondon’’t t you you use use wwhat hat yyou ou learned learned in in yyour our project project manamanagement gement classclass
to to decide decide whawhat t to to do?”do?” J Josh osh and and MikMike e looked looked aat t each each other other and and agragreed eed that that mademade
perfect perfect sensesense..
1. 1. Assume Assume yyou ou are are either either MikMike e or or JJosh; osh; how how wwould ould yyou ou go go aabout bout making making a a decisiondecision
using using prproject oject management management methodolomethodology?gy?
CaseCase
stakstakeholders eholders to to check check the the estimates estimates and and to to brainstorm brainstorm ffor or alternatialternative ve solutions;solutions;
the the cost cost and and time time estimaestimates tes appeared appeared to to be be rreasonaeasonableble. . Some Some ofofthethe suggestionssuggestions
ffor or the the brainstorming brainstorming session session are are listed listed belowbelow..
••ChangeChange scopescope..
••Outsource Outsource technolotechnology gy design.design.
••Use Use the the priority priority mamatrix trix (found (found in in ChaChapter pter 4) 4) to to get get top top management management to to clarifyclarify
their their prioritiespriorities..
•• Partner Partner with with another another organizaorganization tion or or build build a a researresearch ch consortium consortium to to shareshare
costs costs and and to to share share the the nenewly wly devdeveloped eloped technology technology and and prproduction oduction methodsmethods..
••Cancel Cancel the the prproject.oject.
• • Commission Commission a a break-ebreak-even ven study study ffor or the the laser laser printerprinter..
VVery ery little little in in the the waway y ofofconcreteconcrete sasavings vings was was identified, identified, although although therthere e waswas
consensus consensus thathat t time time could could be be compressed compressed to to the the markmarket et launch launch dadatete, , but but aatt
additional additional costscosts..
Lauren Lauren met met with with the the markmarketing eting (Connor), (Connor), prproduction oduction (Kim), (Kim), and and design design (Gage)(Gage)
managers managers wwho ho yielded yielded some some ideas ideas ffor or cutting cutting costscosts, , but but nothing nothing significant significant enoughenough
to to hahave ve a a large large impact. impact. GaGage ge remarkremarked, ed, “I “I wouldnwouldn’’t t want want to to be be the the one one to to delivdeliverer
the the message message to to top top manamanagement gement thathat t their their cost cost estimate estimate is is $1,250,000 $1,250,000 ofofff! ! GoodGood
luck, luck, Lauren.”Lauren.”
1. 1. At At this this point, point, whawhat t would would yyou ou do do ifify you ou were were the the prproject oject manager?manager?
2. 2. WWas as top top management management acting acting corrcorrectly ectly in in devdeveloping eloping an an estimate?estimate?
3. 3. WhaWhat t estimaestimating ting techniques techniques should should be be used used for for a a mission mission critical critical prproject oject suchsuch
asthis?asthis?
1184431 – McGraw-Hill Higher Education (US) ©
Chapter Chapter 5 5 Estimating Estimating Project Project Times Times and and CostsCosts 155155
Appendix Appendix 5.15.1
Learning Learning Curves Curves for for EstimatingEstimating
A A fforecast orecast estimaestimate te ofofthethe time time requirrequired ed to to perform perform a a wwork ork package package or or task task is is aa
basic basic necessity necessity ffor or scheduling scheduling the the prproject. oject. In In some some casescases, , the the manager manager simplsimply y usesuses
judgment judgment and and past past experience experience to to estimaestimate te wwork ork package package timetime, , or or mamay y use use histori-histori-
cal cal recorrecords ds ofofsimilarsimilar taskstasks..
Most Most manamanagers gers and and worworkers kers intuitiintuitively vely knoknow w thathat t improimprovement vement in in thethe
amount amount ofoftimetime required required to to perfperfororm m a a task task or or grgroup oup ofoftaskstasks occurs occurs with with repe-repe-
tition. tition. A A wworkorker er can can perfperfororm m a a task task better/quicker better/quicker the the second second time time and and eacheach
succeeding succeeding time time she/he she/he perfperfororms ms it it (without (without anany y technological technological change). change). It It is is thisthis
papattern ttern ofofimpr improvovement ement that that is is important important to to the the prproject oject manager manager and and prprojectoject
schedulerscheduler..
This This imprimprovovement ement from from rrepetition epetition generally generally rresults esults in in a a reduction reduction ofofla laborbor
hours hours ffor or the the accomplishment accomplishment ofoftaskstasks and and results results in in lolower wer prproject oject costscosts. . FFromrom
empirical empirical evidence evidence acracross oss allall industries industries, , the the pattern pattern ofofthisthis improimprovement vement has has beenbeen
quantified quantified in in the the learning learning curvcurvee(also(also known known as as imprimprovovement ement curvecurve, , experienceexperience
curvecurve, , and and industrial industrial prprogress ogress curvcurve), e), which which is is described described by by the the ffollowingollowing
relarelationship:tionship:
Each Each time time the the output output quantity quantity doubdoublesles, , the the unit unit labor labor hours hours arare e reduced reduced at at a a constant constant rrate.ate.
FFor or exampleexample, , assume assume that that a a manmanufacturer ufacturer has has a a new new contrcontract act for for 16 16 prprototype ototype unitsunits
and and a a total total ofof800800 labor labor hours hours wwere ere requirrequired ed for for the the first first unit. unit. PPast ast experience experience hashas
indicaindicated ted that that on on similar similar types types ofofunitsunits the the improimprovement vement rarate te was was 80 80 percent. percent. ThisThis
relarelationship tionship ofofimpr improovement vement in in lalabor bor hours hours is is shown shown belobelow:w:
Unit Unit Labor Labor HoursHours
1 1 800800
2 2 800 800 33 5 5.80.80 640640
4 4 640 640 33 5 5.80.80 512512
8 8 512 512 33 5 5.80.80 410410
16 16 410 410 33 5 5.80.80 328328
By By using using TTabable le A5.1 A5.1 unit unit valuesvalues, , similar similar lalabor bor hours hours per per unit unit can can be be deterdetermined.mined.
Looking Looking acracross oss the the 16 16 unit unit level level and and dodown wn the the 80 80 percent percent column, column, we we find find a a rratio atio ofof
.4096. .4096. By By multiplmultiplying ying this this raratio tio times times the the lalabor bor hours hours for for the the first first unit, unit, wwe e obtainedobtained
the the per per unit unit value:value:
.4096 .4096800800328328 hours hours or or 327.68327.6833 55
ThaThat t isis, , the the 16th 16th unit unit should should require require close close to to 328 328 lalabor bor hourshours, , assuming assuming an an 80 80 per-per-
cent cent imprimprovovement ement ratioratio..
2. 2. Looking Looking first first at at onlonly y cost, cost, whawhat t decision decision would would yyou ou makmake?e?
3. 3. After After cost, cost, whawhat t other other factors factors should should be be considered considered befbefore ore making making a a decision?decision?
1184431 – McGraw-Hill Higher Education (US) ©
156 156 Chapter Chapter 5 5 Estimating Estimating Project Project Times Times and and CostsCosts
TTABLE ABLE A5.1A5.1
Learning Learning CurvesCurves
Unit Unit VValuesalues
Units Units 60% 60%65%65%70%70%75%75%80%80%85%85%90%90%95% 95%
111.00001.00001.00001.00001.00001.00001.00001.00001.00001.00001.00001.00001.00001.00001.0000 1.0000
22.6000.6000.6500.6500.7000.7000.7500.7500.8000.8000.8500.8500.9000.9000.9500 .9500
33.4450.4450.5052.5052.5682.5682.6338.6338.7021.7021.7729.7729.8462.8462.9219 .9219
44.3600.3600.4225.4225.4900.4900.5625.5625.6400.6400.7225.7225.8100.8100.9025 .9025
55.3054.3054.3678.3678.4368.4368.5127.5127.5956.5956.6857.6857.7830.7830.8877 .8877
66.2670.2670.3284.3284.3977.3977.4754.4754.5617.5617.6570.6570.7616.7616.8758 .8758
77.2383.2383.2984.2984.3674.3674.4459.4459.5345.5345.6337.6337.7439.7439.8659 .8659
88.2160.2160.2746.2746.3430.3430.4219.4219.5120.5120.6141.6141.7290.7290.8574 .8574
99.1980.1980.2552.2552.3228.3228.4017.4017.4930.4930.5974.5974.7161.7161.8499 .8499
1010.1832.1832.2391.2391.3058.3058.3846.3846.4765.4765.5828.5828.7047.7047.8433 .8433
1212.1602.1602.2135.2135.2784.2784.3565.3565.4493.4493.5584.5584.6854.6854.8320 .8320
1414.1430.1430.1940.1940.2572.2572.3344.3344.4276.4276.5386.5386.6696.6696.8226 .8226
1616.1296.1296.1785.1785.2401.2401.3164.3164.4096.4096.5220.5220.6561.6561.8145 .8145
1818.1188.1188.1659.1659.2260.2260.3013.3013.3944.3944.5078.5078.6445.6445.8074 .8074
2020.1099.1099.1554.1554.2141.2141.2884.2884.3812.3812.4954.4954.6342.6342.8012 .8012
2222.1025.1025.1465.1465.2038.2038.2772.2772.3697.3697.4844.4844.6251.6251.7955 .7955
2424.0961.0961.1387.1387.1949.1949.2674.2674.3595.3595.4747.4747.6169.6169.7904 .7904
2525.0933.0933.1353.1353.1908.1908.2629.2629.3548.3548.4701.4701.6131.6131.7880 .7880
3030.0815.0815.1208.1208.1737.1737.2437.2437.3346.3346.4505.4505.5963.5963.7775 .7775
3535.0728.0728.1097.1097.1605.1605.2286.2286.3184.3184.4345.4345.5825.5825.7687 .7687
4040.0660.0660.1010.1010.1498.1498.2163.2163.3050.3050.4211.4211.5708.5708.7611 .7611
4545.0605.0605.0939.0939.1410.1410.2060.2060.2936.2936 .4096 .4096.5607.5607.7545 .7545
5050.0560.0560.0879.0879.1336.1336.1972.1972.2838.2838.3996.3996.5518.5518.7486 .7486
6060.0489.0489.0785.0785.1216.1216.1828.1828.2676.2676.3829.3829.5367.5367.7386 .7386
7070.0437.0437.0713.0713.1123.1123.1715.1715.2547.2547.3693.3693.5243.5243.7302 .7302
8080.0396.0396.0657.0657.1049.1049.1622.1622.2440.2440.3579.3579.5137.5137.7231 .7231
9090.0363.0363.0610.0610.0987.0987.1545.1545.2349.2349.3482.3482.5046.5046.7168 .7168
100100.0336.0336.0572.0572.0935.0935.1479.1479.2271.2271.3397.3397.4966.4966.7112 .7112
120120.0294.0294.0510.0510.0851.0851.1371.1371.2141.2141.3255.3255.4830.4830.7017 .7017
140140.0262.0262.0464.0464.0786.0786.1287.1287.2038.2038.3139.3139.4718.4718.6937 .6937
160160.0237.0237.0427.0427.0734.0734.1217.1217.1952.1952.3042.3042.4623.4623.6869 .6869
180180.0218.0218.0397.0397.0691.0691.1159.1159.1879.1879.2959.2959.4541.4541.6809 .6809
200200.0201.0201.0371.0371.0655.0655.1109.1109.1816.1816.2887.2887.4469.4469.6757 .6757
250250.0171.0171.0323.0323.0584.0584.1011.1011.1691.1691.2740.2740.4320.4320.6646 .6646
300300.0149.0149.0289.0289.0531.0531.0937.0937.1594.1594.2625.2625.4202.4202.5557 .5557
350350.0133.0133.0262.0262.0491.0491.0879.0879.1517.1517.2532.2532.4105.4105.6482 .6482
400400.0121.0121.0241.0241.0458.0458.0832.0832.1453.1453.2454.2454.4022.4022.6419 .6419
450450.0111.0111.0224.0224.0431.0431.0792.0792.1399.1399.2387.2387.3951.3951.6363 .6363
500500.0103.0103.0210.0210.0408.0408.0758.0758.1352.1352.2329.2329.3888.3888.6314 .6314
600600.0090.0090.0188.0188.0372.0372.0703.0703.1275.1275.2232.2232.3782.3782.6229 .6229
700700.0080.0080.0171.0171.0344.0344.0659.0659.1214.1214.2152.2152.3694.3694.6158 .6158
800800.0073.0073.0157.0157.0321.0321.0624.0624.1163.1163.2086.2086.3620.3620.6098 .6098
900900.0067.0067.0146.0146.0302.0302.0594.0594.1119.1119.2029.2029.3556.3556.6045 .6045
1,0001,000.0062.0062.0137.0137.0286.0286.0569.0569.1082.1082.1980.1980.3499.3499.5998 .5998
1,2001,200.0054.0054.0122.0122.0260.0260.0527.0527.1020.1020.1897.1897.3404.3404.5918 .5918
1,4001,400.0048.0048.0111.0111.0240.0240.0495.0495.0971.0971.1830.1830.3325.3325.5850 .5850
1,6001,600.0044.0044.0102.0102.0225.0225.0468.0468.0930.0930.1773.1773.3258.3258.5793 .5793
1,8001,800.0040.0040.0095.0095.0211.0211.0446.0446.0895.0895.1725.1725.3200.3200.5743 .5743
2,0002,000.0037.0037.0089.0089.0200.0200.0427.0427.0866.0866.1683.1683.3149.3149.5698 .5698
2,5002,500.0031.0031.0077.0077.0178.0178.0389.0389.0606.0606.1597.1597.3044.3044.5605 .5605
3,0003,000.0027.0027.0069.0069.0162.0162.0360.0360.0760.0760.1530.1530.2961.2961.5530 .5530
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Chapter Chapter 5 5 Estimating Estimating Project Project Times Times and and CostsCosts 157157
ObviouslObviouslyy, , a a prproject oject manager manager mamay y need need more more than than a a single single unit unit vvalue alue fforor
estimaestimating ting the the time time for for some some wwork ork packagespackages. . The The cumulacumulative tive vvalues alues inin
TTaablebleA5.2 A5.2 proprovide vide factors factors for for computing computing the the cumcumulaulative tive total total lalabor bor hours hours ofof
all all unitsunits. . In In the the previous previous eexamplexample, , ffor or the the first first 16 16 unitsunits, , the the total total lalabor bor hourshours
requirrequired ed would would bebe
800 8008.9208.9207,1367,136 hourshours33 55
By By dividing dividing the the total total cumcumulatiulative ve hours hours (7,136) (7,136) by by the the unitsunits, , the the aaverage verage unit unit lalaborbor
hours hours can can be be obtained:obtained:
7,136 7,136 lalabor bor hours/16 hours/16 units units446446 aaveraverage ge lalabor bor hours hours per per unitunit55
Note Note hohow w the the labor labor hours hours ffor or the the 16th 16th unit unit (328) (328) differs differs frfrom om the the aaveraverage ge ffor or allall
16 16 units units (446). (446). The The prproject oject managermanager, , knowing knowing the the aaveraverage ge lalabor bor costs costs andand
prprocessing ocessing costscosts, , could could estimate estimate the the total total prprototype ototype costscosts. . (The (The mathemamathematicaltical
derivderivation ation ofof factorsfactors ffound ound in in TTaables bles A5.1 A5.1 and and A5.2 A5.2 can can be be ffound ound in in JJelen, elen, FF. . CC.,.,
and and JJ. . H. H. Black, Black,2nd2nd ed. ed. (Ne(New w YYork:ork:Cost Cost and and Optimization Optimization Engineering,Engineering,
McGraMcGraw-Hill, w-Hill, 1983.)1983.)
FOLLOWFOLLOW-ON -ON CONTRACT CONTRACT EXAMPLEEXAMPLE
Assume Assume the the prproject oject manager manager gets gets a a ffollow-on ollow-on order order ofof7474 units; units; hohow w should should sheshe
estimaestimate te lalabor bor hours hours and and cost? cost? Going Going to to the the cumulacumulative tive TTaable ble A5.2 A5.2 we we find find aat t thethe
80 80 percent percent raratio tio and and 90 90 total total units units intersection—a intersection—a 30.35 30.35 ratioratio..
800 800 33 5 530.3530.35 24,280 24,280 labor labor hours hours for for 90 90 unitsunits
Less Less previous previous 16 16 units units 5 57,136 7,136
TTotal otal follow-on follow-on order order 5 517,14417,144 labor labor hourshours
17,144/74 17,144/74 equals equals 232 232 average average labor labor hours hours per per unitunit
LaLabor bor hours hours ffor or the the 90th 90th unit unit can can be be obtained obtained from from TTaable ble A5.1: A5.1: .2349 .2349800800 33 55
187.9 187.9 lalabor bor hourshours. . (F(For or raratios tios between between givgiven en valuesvalues, , simply simply estimaestimatete.).)
Exercise Exercise A5.1A5.1
Norwegian Norwegian Satellite Satellite DeDevelopment velopment CompanCompanyy
Cost Cost EstimatesEstimates
forfor
WWorld orld Satellite Satellite TTelephone elephone Exchange Exchange PrProjectoject
NSDC NSDC has has a a contract contract to to prproduce oduce eight eight satellites satellites to to support support a a wworldorldwide wide telephonetelephone
system system (f(for or Alaska Alaska TTelecom, elecom, Inc.) Inc.) thathat t allows allows individuals individuals to to use use a a singlesingle, , portaportableble
telephone telephone in in anany y location location on on earth earth to to call call in in and and out. out. NSDC NSDC will will dedevelop velop andand
prproduce oduce the the eight eight unitsunits. . NSDC NSDC has has estimated estimated thathat t the the R&D R&D costs costs will will be be NOKNOK
(Norwegian (Norwegian KrKrone) one) 12,000,000. 12,000,000. Material Material costs costs are are eexpected xpected to to be be NOKNOK
6,000,000. 6,000,000. They They hahave ve estimated estimated the the design design and and prproduction oduction ofofthethe first first sasatellitetellite
will will requirrequire e 100,000 100,000 labor labor hours hours and and an an 80 80 perpercent cent improimprovement vement curve curve isis
1184431 – McGraw-Hill Higher Education (US) ©
158 158 Chapter Chapter 5 5 Estimating Estimating Project Project Times Times and and CostsCosts
TTABLE ABLE A5.2A5.2
Learning Learning CurvesCurves
CumulativCumulative e VValuesalues
Units Units 60% 60%65%65%70%70%75%75%80%80%85%85%90%90%95% 95%
111.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.000 1.000
221.6001.6001.6501.6501.7001.7001.7501.7501.8001.8001.8501.8501.9001.9001.950 1.950
332.0452.0452.1552.1552.2682.2682.3842.3842.5022.5022.6232.6232.7462.7462.872 2.872
442.4052.4052.5782.5782.7582.7582.9462.9463.1423.1423.3453.3453.5563.5563.774 3.774
552.7102.7102.9462.9463.1953.1953.4593.4593.7383.7384.0314.0314.3394.3394.662 4.662
662.9772.9773.2743.2743.5933.5933.9343.9344.2994.2994.6884.6885.1015.1015.538 5.538
773.2163.2163.5723.5723.960 3.960 4.3804.3804.8344.8345.3225.3225.8455.8456.404 6.404
883.4323.4323.8473.8474.3034.3034.8024.8025.3465.3465.9365.9366.5746.5747.261 7.261
993.6303.6304.1024.1024.6264.6265.2045.2045.8395.8396.5336.5337.2907.2908.111 8.111
10103.8133.8134.3414.3414.9314.9315.5895.5896.3156.3157.1167.1167.9947.9948.955 8.955
12124.1444.1444.7804.7805.5015.5016.3156.3157.2277.2278.2448.2449.3749.37410.62 10.62
14144.4384.4385.1775.1776.0266.0266.9946.9948.0928.0929.3319.33110.7210.7212.27 12.27
16164.7044.7045.5415.5416.5146.5147.6357.6358.9208.92010.3810.3812.0412.0413.91 13.91
18184.9464.9465.8795.8796.9726.9728.2458.2459.7169.71611.4111.4113.3313.3315.52 15.52
20205.1715.1716.1956.1957.4077.4078.8288.82810.4810.4812.4012.4014.6414.6417.13 17.13
22225.3795.3796.4926.4927.8197.8199.3889.38811.2311.2313.3813.3815.8615.8618.72 18.72
24245.5745.5746.7736.7738.2138.2139.9289.92811.9511.9514.3314.3317.1017.1020.31 20.31
25255.6685.6686.9096.9098.4048.40410.1910.1912.3112.3114.8014.8017.7117.7121.10 21.10
30306.0976.0977.5407.5409.3059.30511.4511.4514.0214.0217.0917.0920.7320.7325.00 25.00
35356.4786.4788.1098.10910.1310.1312.7212.7215.6415.6419.2919.2923.6723.6728.86 28.86
40406.8216.8218.6318.63110.9010.9013.7213.7217.1917.1921.4321.4326.5426.5432.68 32.68
45457.1347.1349.1149.11411.6211.6214.7714.7718.6818.6823.5023.5029.3729.3736.47 36.47
50507.4227.4229.5659.56512.3112.3115.7815.7820.1220.1225.5125.5132.1432.1440.22 40.22
60607.9417.94110.3910.3913.5713.5717.6717.6722.8722.8729.4129.4137.5737.5747.65 47.65
70708.4018.40111.1311.1314.7414.7419.4319.4325.4725.4733.1733.1742.8742.8754.99 54.99
80808.8148.81411.8211.8215.8215.8221.0921.0927.9627.9636.8036.8048.0548.0562.25 62.25
90909.1919.19112.4512.4516.8316.8322.6722.6730.3530.3540.3240.3253.1453.1469.45 69.45
1001009.5399.53913.0313.0317.7917.7924.1824.1832.6532.6543.7543.7558.1458.1476.59 76.59
12012010.1610.1614.1614.1619.5719.5727.0227.0237.0537.0550.3950.3967.9367.9390.71 90.71
14014010.7210.7215.0815.0821.2021.2029.6729.6741.2241.2256.7856.7877.4677.46104.7 104.7
16016011.2111.2115.9715.9722.7222.7232.1732.1745.2045.2062.9562.9586.8086.80118.5 118.5
18018011.6711.6716.7916.7924.1424.1434.5434.5449.0349.0368.9568.9595.9695.96132.1 132.1
20020012.0912.0917.5517.5525.4825.4836.8036.8052.7252.7274.7974.79105.0105.0145.7 145.7
25025013.0113.0119.2819.2828.5628.5642.0842.0861.4761.4788.8388.83126.9126.9179.2 179.2
30030013.8113.8120.8120.8131.3431.3446.9446.9469.6669.66102.2102.2148.2148.2212.2 212.2
35035014.5114.5122.1822.1833.8933.8951.4851.4877.4377.43115.1115.1169.0169.0244.8 244.8
40040015.1415.1423.4423.4436.2636.2655.7555.7584.8584.85127.6127.6189.3189.3277.0 277.0
45045015.7215.7224.6024.6038.4838.4859.8059.8091.9791.97139.7139.7209.2209.2309.0 309.0
50050016.2616.2625.6825.6840.5840.5863.6863.6898.8598.85151.5151.5228.8228.8340.6 340.6
60060017.2117.2127.6727.6744.4744.4770.9770.97112.0112.0174.2174.2267.1267.1403.3 403.3
70070018.0618.0629.4529.4548.0448.0477.7777.77124.4124.4196.1196.1304 304.5 .5465.3 465.3
80080018.8218.8231.0931.0951.3651.3684.1884.18136.3136.3217.3217.3341.0341.0526.5 526.5
90090019.5119.5132.6032.6054.4654.4690.2690.26147.7147.7237.9237.9376.9376.9587.2 587.2
1,000 1,00020.1520.1534.0134.0157.4057.4096.0796.07158.7158.7257.9257.9412.2412.2647.4 647.4
1,200 1,20021.3021.3036.5936.5962.8562.85107.0107.0179.7179.7296.6296.6481.2481.2766.6 766.6
1,400 1,40022.3222.3238.9238.9267.8567.85117.2117.2199.6199.6333.9333.9548.4548.4884.2 884.2
1,600 1,60023.2323.2341.0441.0472.4972.49126.8126.8218.6218.6369.9369.9614.2614.21001. 1001.
1,800 1,80024.0624.0643.0043.0076.8576.85135.9135.9236.8236.8404.9404.9678.8678.81116. 1116.
2,000 2,00024.8324.8344.8444.8480.9680.96144.7144.7254.4254.4438.9438.9742.3742.31230. 1230.
2,500 2,50026.5326.5348.9748.9790.3990.39165.0165.0296.1296.1520.8520.8897.0897.01513. 1513.
3,000 3,00027.9927.9952.6252.6298.9098.90183.7183.7335.2335.2598.9598.91047.1047.1791. 1791.
1184431 – McGraw-Hill Higher Education (US) ©
Chapter Chapter 5 5 Estimating Estimating Project Project Times Times and and CostsCosts 159159
expected. expected. Skilled Skilled lalabor bor cost cost is is NOK NOK 300 300 per per hourhour. . Desired Desired prprofit ofit ffor or all all projectsprojects
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CC. . WhaWhat t price price wwould ould you you ask ask ffor or the the project? project? WWhhy?y?
DD. . MidMidwaway y through through the the prproject oject yyour our design design and and production production people people rrealizealize e that that aa
75 75 percent percent imprimproovement vement curve curve is is mormore e apprappropriateopriate. . WhaWhat t impact impact does does thisthis
hahave ve on on the the prproject?oject?
E. E. Near Near the the end end ofofthethe prproject oject Deutsch Deutsch TTelefon elefon AAG G has has requested requested a a cost cost estimateestimate
ffor or ffour our satellites satellites identical identical to to those those yyou ou hahave ve alreadalready y prproduced. oduced. WhaWhat t price price willwill
yyou ou quote quote them? them? JJustify ustify your your priceprice..

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