Question: 1 (Chapter 11, Exercise-4, Page no : 461)



Question: 1 (Chapter 8, Exercise-2, Page no: 330)

Create a Pareto diagram based on the information in the table below. First, create a spreadsheet in Excel, using the data in the table below. First, create a spreadsheet in Excel, using the data in the table below. List the most frequent customer problem first. Add a column called “Cumulative%.” Then enter formulas to calculate those items. Next, use the excel chart wizard to create a Pareto diagram based on the data. Use the line- Column on 2 Axis custom type chart so your resulting chart looks similar to the one in figure 8-1.

|Customer Complaints |Frequency / Week |

|Service rep cannot answer customer's questions |120 |

|Customer is on hold too long |90 |

|Service rep does not follow through as promised |40 |

|Customer gets transferred to wrong area or cut off |20 |

Answer:

Pareto analysis identifies the vital few contributors that account for quality problems in a system, which is referred as 80-20 rule. It indicates that 80% of the problems are always due to 20% of the causes.

This rule has always been of interest, whether working in code or doing analysis such as, in the customer services field there is some individuals with unique circumstances who bring complexity and challenge to the business rules and code. This Project Management Exercise nicely demonstrates this rule.

| | |Customer Complaints | |

| | | | |

| |Frequency / Week |% of Total Complaints |Cumulative % |

|Service rep cannot answer customer's questions |120 |44% |44% |

|Customer is on hold too long |90 |33% |78% |

|Service rep does not follow through as promised |40 |15% |93% |

|Customer gets transferred to wrong area or cut off |20 |7% |100% |

|Total |270 |100% | |

Customer Complaints Histogram

[pic]

Question: 2 (Chapter 9, Exercise-1, Page no: 380)

Your company is planning to launch an important new project starting January 1, which will last one year. You estimate that you will need one full-time project manager, two full-time business analysts for the first six months, two full-time senior programmers for the whole year, four full time junior programmers for the months of July, August, and September, and one full-time technical writer for the last three months. Use Microsoft Excel to create a stacked column chart showing a resource histogram for this project, similar to the one shown in Figure 9-6. Be sure to include a legend to label the types of resources needed. Use appropriate titles and axis labels.

Answer: See Attachment chapter 9, exercise 1

Or

|Types of resources |Jan |Feb |

|Project 1 |50 percent |$120,000 |

| |50 percent |-$50,000 |

|Project 2 |30 percent |$100,000 |

| |40 percent |$50,000 |

| |30 percent |-$60,000 |

|Project 3 |70 percent |$20,000 |

| |30 percent |-$5,000 |

|Project 4 |30 percent |$40,000 |

| |30 percent |$30,000 |

| |20 percent |$20,000 |

| |20 percent |-$50,000 |

Answer:

Probability (P)*Outcome= EMV

Project 1

P=0.50*$120,000=$ 60,000

Decision

P=0.50*-$ 50,000=-$25,000

Project 2

P=0.30*$100,000=$30,000

P=0.40* $50,000=$20,000

Decision

P=0.30*-$60,000=-$18,000

Project 3

P=0.70*$20,000=$14,000

Decision

P=0.30*-$5,000=-$1500

Project 4

P=0.30 $40,000=$12,000

P=0.30 $30,000=$9,000

P=0.20 $20,000=$4,000

Decision

P=0.20 -$50,000=-$10,000

Project 1’s EMV=$ 60,000-$25,000=$35,000

Project 2’s EMV=$30,000+$20,000-$18,000=$32,000

Project 3’s EMV=$14,000-$1500=$12500

Project 4’s EMV=$12,000+$9,000+$4,000-$10,000=$15,000

Based on the above diagram, I think project 1 I would bid on, because the EMV provides an estimate for the total dollar value of a decision, I want to have a positive number, the higher the EMV, the better project should be.

If I just looked at the potential outcome of the 4 projects, project 2 looks more appealing. It could earn $150,000 in profits from project 2, but it can only earn $120,000 for project 1. However, there is only a 50 percent chance of getting that $120,000 on project 1, and there is a 70 percent chance of earning $150,000 on project 2. Therefore, using this EMV diagram, it can clearly help account for all possible outcomes and their probabilities of occurrence therefore reducing the tendency to pursue overly aggressive or conservative risk strategies.

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Conclusion:

While websites are still a foundation of the Internet, it has never really enjoyed the kind of popularity that blogs have recently gotten.  Blogging makes me to become an online publisher with its easy to use publishing platforms where there is no more messing around with HTML coding, software problems or web design issues. It is really easy to express myself and I also can connect myself with like-minded people. In future it will be useful to use content management systems. I can easily establish myself as an expert I my field of interest. Blogging also eventually lead to my blog becoming an authority site, which will rank well in search engine. I can make communities with this. It will expand my network of friends, business associates and clients.

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