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A Project Manager Ascertained That Five Different Resources Are Needed

question 59

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A project manager ascertained that five different resources are needed to complete a project that has been estimated to last 37 days.Just to be on the safe side,the project manager told the client that the project would definitely be delivered in 40 days and 40 nights and arranged to rent the resources for that period of time.The project manager goes to the local rental center at the start of day 1 of the project,signs a 40-day lease agreement for all five resources,and brings them to the site to begin the project.Analyze the Gantt chart and resource list (activity durations are in parenthesis)and determine how much money is being wasted with this rental plan.If each resource could be rented for just the time it takes to complete each activity,what would the charge to the project be? $A project manager ascertained that five different resources are needed to complete a project that has been estimated to last 37 days.Just to be on the safe side,the project manager told the client that the project would definitely be delivered in 40 days and 40 nights and arranged to rent the resources for that period of time.The project manager goes to the local rental center at the start of day 1 of the project,signs a 40-day lease agreement for all five resources,and brings them to the site to begin the project.Analyze the Gantt chart and resource list (activity durations are in parenthesis)and determine how much money is being wasted with this rental plan.If each resource could be rented for just the time it takes to complete each activity,what would the charge to the project be? \begin{array} { | l | l | } \text { Resource } & \\ \text { Number } & \text { Daily Rate } \\ \hline 1 & \$ 1,000 \\ \hline 2 & \$ 1,200 \\ \hline 3 & \$ 500 \\ \hline 4 & \$ 750 \\ \hline 5 & \$ 800 \\ \hline \end{array} \begin{array} { | l | l | l | l | } \hline \text { Activity } & \text { Length } & \text { Activity } & \text { Length } \\ \hline \mathbb { H } & 3 & \text { S } & 3 \\ \hline \mathbb { M } & 9 & \text { T } & 1 \\ \hline \mathbb { P } & 6 & \text { W } & 4 \\ \hline \mathrm { B } & 7 & T & 4 \\ \hline \mathbb { R } & 9 & \mathrm { G } & 4 \\ \hline \mathrm { F } & 5 & \mathrm {~K} & 10 \\ \hline \end{array}$ $\begin{array} { | l | l | } \text { Resource } & \\ \text { Number } & \text { Daily Rate } \\\hline 1 & \$ 1,000 \\\hline 2 & \$ 1,200 \\\hline 3 & \$ 500 \\\hline 4 & \$ 750 \\\hline 5 & \$ 800 \\\hline\end{array}$ $\begin{array} { | l | l | l | l | } \hline \text { Activity } & \text { Length } & \text { Activity } & \text { Length } \\\hline \mathbb { H } & 3 & \text { S } & 3 \\\hline \mathbb { M } & 9 & \text { T } & 1 \\\hline \mathbb { P } & 6 & \text { W } & 4 \\\hline \mathrm { B } & 7 & T & 4 \\\hline \mathbb { R } & 9 & \mathrm { G } & 4 \\\hline \mathrm { F } & 5 & \mathrm {~K} & 10 \\\hline\end{array}$

Definitions:

Office Supplies

Items used in offices on a regular basis for the purpose of carrying out tasks and operations, including pens, paper, and staplers.

Asset Account

An account on a balance sheet that represents a resource controlled by the entity as a result of past transactions and from which future economic benefits are expected.

Adjusting Entries

Entries recorded in accounting logs at the end of a fiscal period for the purpose of allocating earnings and costs to their rightful period.

Note Payable

A written promissory note in which the borrower agrees to pay back a specified sum to the lender at a future date, with interest.