. Your day to
day queries will be handled by Miss Lucinda Overdale, who is a graduate of Operational Research
(but has no time herself to develop a suitable optimisation model).
The preliminary data available to you (and these are mostly semi-educated guesses) are shown in
Table (1) below. The various entries are then explained below for Tom’s team on the next page,
Assignment代写and similar interpretations may be placed on matters relating to the other two teams.
Table (1): Base-Line Data, all costs in £’000 Tom’s Team Dick’s Team Harry’s Team
Ongoing (fixed) team-related costs p.a. 400 550 700
Operating cost per rig p.a. 60 50 40
Forecast of wells to be drilled per rig p.a. 30 35 40
Gross revenue per successful well p.a. 90 80 85
Percentage of wells that are dry 70 60 40
Cost of materials to drill a well 20 20 30
Cost to build and install a pipeline 10 5 15
Minimum rigs p.a. to make the team “viable” 1.25 1.25 1.5 OR301.1 AIMMS Project 2008-09 (continued)
2
The first data category shows that the ongoing cost of the running Tom’s team is £400,000 per year
(thus not taking account of the set-up cost of £20,000 in the current year), and covers all salaries,
pensions, expenses, HR costs, etc., and the second category shows that the hiring and fuel, etc.,
costs of Tom’s team per rig will be £60,000 p.a.
In the third category Tom forecasts that his team can drill 30 separate wells per year per rig, and the
next two lines of the table show that each productive well will generate £90,000 of gross revenue
p.a., but that only 30% of his wells will be productive because 70% will be dry (based on his past
track-record). The next two lines show that each well that is drilled by his team (whether it’s dry
or productive) is expected to cost £20,000 (for the concrete casing of the well, etc.), and once a well
has been “tested” to be successful, the cost of connecting it by pipeline to the onshore gathering
Assignment代写centre will be £10,000.
Finally Tom will refuse to go ahead with the project unless he controls at least 1.25 rigs in each
year – this is the ‘minimum rigs p.a. to make the team “viable” ‘.
A final requirement specified by IDOL’s Board of Directors is that the number of rigs assigned to
each team in any year is to be not more than half the total number of rigs in all three teams in that
year and, of course, it does not necessarily follow that all 10 rigs are needed.
Dr Maulem requires answers to two questions: “How many rigs should be assigned to each team
each year?” and “What overall net cumulative (pre-tax) profit can IDOL anticipate at the end of
the four years?”
Thus you are to write a one page management report to Dr Maulem that confirms (with evidence)
that the proposed venture is indeed like
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