b. What is the scheduled start and completion date for each activity?

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12-1 Using the information in.vitalsource.com/books/9781284090475/content/id/ch12tab7″>Table 12-7, construct a PERT network and answer each of the following questions:
a. dat What is the expected project completiona?
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.
·

· 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

.

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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