EXERCISES 12-1Using the information in Table 12-7 , construct a PERT network and answer each of the following questions: a.What is the expected
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EXERCISES12-1 Using the information in Table 12-7

  • , construct a PERT network and answer each of the following questions:
  • a. What is the expected project completion data?
  • b. What is the scheduled start and completion date for each activity?
  • c. Which activities are on the critical path?
  • d. How long can noncritical path activities be delayed without jeopardizing the overall completion date for this project?
  • 12-2 Assess the impact of the following changes to the time estimates provided in question 12-1. Individually, what is the impact if:
  • Activity
  • Predecessor
  • New Time Estimate
  • O. Advertise for new staff
  • N
  • 4
  • P. Interview for new staff
  • O
  • 6
  • Q. Select new staff
  • P
  • 1
  • Collectively, what is the impact of these changes?
  • 12-3 As project manager for the example included in question 12-1, what would you recommend to preserve the original project completion date if activity A was reestimated to take 8 weeks, not the original 4 weeks? Provide details.
  • 12-4 Develop a WBS and PERT network with no more than 20 activities for each of the following projects.
  • a. Buying a car
  • b. Screening 1000 school-age children for high blood pressure and reporting the results to the child's physician

Table 12-7 

Project to Convert a 20-Bed Unit in a Nursing Home to Accommodate Patients with Dementia

Activity

 

Predecessor

Time estimate (weeks)

A

Secure state approval

-

4

B

Identify 20-bed unit to be used

A

1

C

Move existing residents

B

1

D

Clean space

C

2

E

Develop architectural plans

A

9

F

Install new heating and ventilation systems

E

4

G

Install security systems

E

2

H

Move walls; renovate

F

4

I

Identify new equipment

A

1

J

Order new equipment

I

1

K

Unpack and inspect new equipment

J

1

L

Install new equipment

D, K, H

3

M

Reassign staff

A

1

N

Identify new staffing needs

M

1

O

Advertise for new staff

N

3

P

Interview for new staff

O

2

Q

Select new hires

P

3

R

Develop care plan protocols

M

1

S

Train staff

R, Q, M, L

1

T

Modify quality assurance plans

S

2

U

Coordinate with hospital discharge planners

T

4

V

Complete internal audit

U, G

1

Note Homework assignment 12-1 thru 12-3 Math 543

13-1 thru 13-3



EXERCISES

  • 13-1 A representative of a reputable financial services company has approached you as manager of a four-person group of anesthesiologists with an opportunity to purchase a 10-year annuity due for each member of the group. The annuity due would pay $40,000 each year beginning 5 years from now (i.e., at time = 5). What is the most you would be willing to pay now, per each physician, for this investment? Assume an appropriate discount rate of 7%.
  • 13-2 The hospital's marketing and finance departments have just provided you, as chief financial officer, with pro forma income statements for your proposed sonogram center. These statements appear in the following.
  • Pro forma Income Statement
  • (000)
  • Time
  • t + 1
  • t + 2
  • t + 3
  • t + 4
  • Service Revenues (net)
  • $425
  • $500
  • $580
  • $700
  • Expenses
  • $400
  • $450
  • $525
  • $600
  • Depreciation Expense
  • $ 35
  • $ 35
  • $ 35
  • $ 35
  • Net Income
  • ($ 10)
  • $ 15
  • $ 20
  • $ 65
  • What is the project's IRR? Assume an initial investment of $175,000 and an appropriate discount rate of 6%. The hospital is operated as a not-for-profit facility.
  • 13-3 The chief operating officer (COO) of a small, not-for-profit community hospital has to make a recommendation to the board of trustees on choosing among three project options for an unrestricted gift of $250,000 that has just been received. The board has established a time horizon of 5 years on this project. The options are described in the following.
  • a. Purchase a 5-year treasury note at an interest rate (annual) of 7%.
  • b. Purchase the practice of a young physician (the hospital's third highest admitter). Estimates of projected cash flows for the practice (post-purchase), are:
  • Probability of Cash Flow
  • Time
  • 60%
  • 20%
  • 20%
  • t + 1
  • $ 40,000
  • $20,000
  • $ 60,000
  • t + 2
  • $ 60,000
  • $30,000
  • $ 80,000
  • t + 3
  • $  75,000
  • $40,000
  • $100,000
  • t + 4
  • $100,000
  • $50,000
  • $125,000
  • t + 5
  • $100,000
  • $50,000
  • $125,000
  • c. Purchase an upgraded analyzer for the laboratory. Based on forecasts of laboratory utilization, the net cash flows for this project are:
  • Time
  • Net Cash Flow
  • t + 1
  • $75,000
  • t + 2
  • $75,000
  • t + 3
  • $50,000
  • t + 4
  • $50,000
  • t + 5
  • $50,000
  • Which investment should the COO recommend and why?
  • 13-4 What are some of the factors that can influence the riskiness of projects (investments) in healthcare organizations?

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