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Representative

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Submitted By cynic12
Words 477
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NutroBalance has decided to expand its success with the formulation of the Ultra pills that were targeted towards men who lift weights and do cardiovascular exercises in the work-out population, to women who share the same passions. The new product will be called UltraMax. Project UltraMax has been divided into three sections: identification of target consumers, product testing, and result analysis; where twelve main tasks will be delivered in order to accomplish our mission. We started the project with a baseline cost of $42,080, but now we are at $45, 680 which puts us ($3,600) over budget. We also anticipated the project ending on 7/11/12, but now our schedule has an estimated finish date of 7/24/12. It took 30 days to screen the test subjects; our baseline estimation for this task was 20 days. Consequently, this put us over budget and behind schedule. Therefore, we plan to measure risks and constraints for upcoming tasks. We have attached the following reports for your review/records:
• Critical Tasks
• Over Allocated Resources
• Over Budget Tasks
• Resource Usage
Solution
After the test subjects have been finalized the next task will be to prepare the product. This is a critical task that has been assigned to an over-allocated resource. This is a constraint that will lead to other risks in the scheduling, and since we are already behind schedule, we will base our remaining duration estimates on a worse-case scenario using the Program Evaluation and Review Technique (PERT). This technique accounts for three different determined estimate criteria (Most Pessimistic (P), Most Optimistic (O), or Most Likely (M) – explained below) where a standard deviation variance will be used to weigh out the probability that the duration of a task will be efficient. The PERT criteria are defined below:
• Most Pessimistic time - The longest determined

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