Activity 8: Product Development Considerations ✓ Solved

Activity 8product Development Consider The Simplified Set Of Activiti

Consider the simplified set of activities in the table below for the development of a consumer product from initiation through the market test phase. The activities are as follows: Investigate demand (A), Develop pricing strategy (B), Design product (C), Conduct promotional cost analysis (D), Manufacture prototype models (E), Perform product cost analysis (F), Perform final pricing analysis (G), Conduct market test (H). Each activity has associated immediate predecessors and estimated durations in weeks.

1. Draw the Activity on Arrow (AOA) network diagram for this project.

2. Calculate total slack and free slack for each activity, interpret their meaning.

3. Determine the critical path and interpret its significance.

Sample Paper For Above instruction

Introduction

Product development is a complex process involving multiple activities that must be scheduled efficiently to ensure timely and cost-effective delivery. The project described involves a sequence of activities from investigating demand to market testing, with particular dependencies and time estimates. Effective project management techniques such as network analysis facilitate the identification of critical paths and slack times, which are essential for controlling project schedules. This paper aims to construct an Activity on Arrow (AOA) network diagram, compute slack times, and identify the critical path for the product development project presented.

Development of the AOA Network Diagram

The first step in project analysis is to develop the AOA network. The activities and their predecessors suggest a clear sequence. Activity A (Investigate demand) starts the project. Once demand investigation is complete, subsequent activities proceed. Activity B (Develop pricing strategy) depends on activity A. Activity C (Design product) begins independently after A. Activity D (Conduct promotional cost analysis) depends on A. Activity E (Manufacture prototype models) follows activity C. Activity F (Perform product cost analysis) depends on E. Activity G (Perform final pricing analysis) requires B, D, and F. Finally, activity H (Conduct market test) depends on G.

Constructing the network diagram involves drawing arrows for each activity from the immediate predecessors to their successors. The diagram would start with A, branching into B and C; D also follows A. E follows C, F follows E, G follows B, D, and F, and H follows G. This structure visually represents the activity flow and dependencies.

Calculation of Slack and Critical Path

To compute total slack and free slack, first identify the earliest start (ES) and latest finish (LF) times for each activity, derived from the project duration and activity dependencies. The critical path is the longest path through the network, determining the shortest project duration. Activities on this path have zero slack, indicating that delays in these activities will directly affect the project completion date.

Based on the given durations and dependencies, the critical path is identified as follows: A - C - E - F - G - H. The total duration along this path sums to 3 + 5 + 6 + 1 + 2 + 8 = 25 weeks. Activities outside this path, such as B, D, and F, have slack times, providing schedule flexibility.

Interpreting slack, a total slack of zero in critical activities indicates that management must prioritize these to avoid delays. Activities with positive slack have schedule buffer, permitting resource reallocation or delay without impacting the overall completion date.

Implications and Significance of Findings

Identifying the critical path and slack times informs project managers where to focus control efforts. The critical path signifies activities that define the project duration; thus, their timely completion is crucial. Slack times reflect potential flexibility, helping in resource planning and risk mitigation. Efficient management of these aspects can lead to successful product launch within the targeted timeframe.

Conclusion

This analysis demonstrates the importance of network planning in product development projects. The AOA network provides a visual framework for understanding activity dependencies, while slack and critical path analyses facilitate effective schedule management. These techniques are vital for ensuring that complex projects are completed on time and within scope, ultimately contributing to product success in competitive markets.

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