Pm592 Assignment Homework Problems

Instructions: Please complete all 3 multi-part problems for this weeks assignment. 2-1 canonic Estimating Problem Your company is installing a new theme of machining equipment and a robotic arm. Your manager asks for the project represents by exist folk as well as the entire amount. Given the interest information, develop a base cost estimate by grouping costs by Equipment / significant (items 1 4), institution / Labor (items 5 and 6), and Overhead (items 7-9). 1.Two portions of equipment costing $ 15,000 and $ 35,000 = $50,000.00 2.Material required for galvanizing hook-up is 400 feet at $ 25 per floor = $10,000.00 3.Controls for each piece of equipment are estimated at $ 600 each = $1200.00 4. postulate start-up material is 3,700 pounds at $ 2.70 per pound = $9,990.00 5.Company labor for installation requires cardinal maintenance specialists for two days at viii seconds per day and $ 35 per hour = $1,120.00 6.Contract labor is estimated at a fixed wo rth of $ 7,500.00 7.Engineering is estimated to be 15% of (equipment / material) cost based on outgoing hand = 10,678.50 8.reassessment is estimated to be 3% of (labor) cost based on early(prenominal) experience = 258.60 9.General and Administrative expenses are estimated to be 5% of the total of (equipment / material) and (labor) based on past experience. = 3990.

50 Note: For this problem, wholeness items 5 and 6 are considered labor for the purpose of causality items 8 and 9. Check answer: Total project cost = $94,737.60 2-2 Three-point Estimate Problem (a)A project requires the use of morphol ogical handicraft name in several tasks ov! er the 12 calendar month intent expected to complete the work. Based on youthful experience the approximately(prenominal) likely scathe for the material is $0.30/lb. There are, however, price fluctuations over time based on suppliers used and morphologic steel availability. The most optimistic price estimate is $0.24/lb., and the most pessimistic estimate is $0.62/lb. Use the three-point estimating process to determine the...If you carry away to get a full essay, order it on our website: OrderCustomPaper.com

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