Draw a network diagram showing the linkage between these activities from start to finish. For the diagram, each activity should be labelled alphabetically ie. A, B, C… etc. PERT Formula: TE = (O + 4T + P) / 6 TE = Pert Expected Time Duration, O = Optimistic estimate, P = Pessimistic estimate, T = Most Likely (Typical) estimate Activity Predecessor Optimistic Most Likely Pessimistic Duration Duration in Weeks A — 2 3 4 B — 4 5 7 C B 1 2 3 D C & E 0.5 1 1.5 E B 0.5 1 1.5 F C 2 3 4 G F 2 3 4
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Draw a network diagram showing the linkage between these activities from start to finish. For the diagram, each activity should be labelled alphabetically ie. A, B, C… etc.
- PERT Formula:
- TE = (O + 4T + P) / 6
- TE = Pert Expected Time Duration,
- O = Optimistic estimate,
- P = Pessimistic estimate,
- T = Most Likely (Typical) estimate
Activity |
Predecessor |
Optimistic |
Most Likely |
Pessimistic |
Duration |
Duration in Weeks |
|
||||
A |
— |
2 |
3 |
4 |
|
B |
— |
4 |
5 |
7 |
|
C |
B |
1 |
2 |
3 |
|
D |
C & E |
0.5 |
1 |
1.5 |
|
E |
B |
0.5 |
1 |
1.5 |
|
F |
C |
2 |
3 |
4 |
|
G |
F |
2 |
3 |
4 |
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- A company is willing to develop their rocket before the end of current financial year which is now 28 weeks away. The chief engineer of the company has decided to use PERT technique in order to plan, schedule and control program of development for the data given in table below. What is the probability that the program will be completed by the end of the current financial year? (all durations are in weeks). (i) G) Optimum Duration Most likely duration Pesimistic duration 1 2 3 8 13 3 2 8 4 3 8 10 4 7 10 3 6. 3 8 4 9 10 4 8. 4 9. 5 7 9. 12 6. 5 11 7 9. 14 8 4. 00 2.Evaluate the below statement according to the project management terminologies and choose the correct answer: It is the process of making a forecast or precise approximation Choose... of time and cost associated with a work package or activity. Graphically describes a project consisting of well-defined Choose.. activities, the completion of which marks its end. One of the Perform Quantitative Risk Analysis process has a Choose.. Tools and Techniques. Useful for building accountability through assigning specific Choose.. tasks to team members. It is the standard format each path through the network must be continuous with no gaps, discontinuities, or dangling Choose... activities. Organizational Assets, Project Scope Statement, Cost Management Plan and Schedule Management Plan are inputs Choose.. of: Choose... Work Breakdown Structure Expert Judgment Bar chart Estimating A horizontal diagram format Plan Risk ManagementImage of Diagram included Using the diagram, find: The critical path. How long it will take to complete the project? How does simulation determine the probabilities of various project completion times? What is "slack" and why is it important? Why is activity-on-arrow (AOA) or activity-on-node (AON) of significant value to the project manager? How is the uncertainty in project scheduling dealt with? Should the critical path activities be managed differently from noncritical path activities? Explain.
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- Using your results from Problem 6,(a) Calculate the probability that the project will be completedin 38 weeks.(b) Calculate the probability that the project will be completedin 42 weeksc. What is the expected project completion time? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Project completion time d. What is the probability of completing this project within 16 days? (Use Excel's NORMSDIST() function to find the correct probability for your computed Z-value. Do not round intermediate calculations. Round "2" value to 2 decimal places and final answer to 4 decimal places.) Probability 10 00 days 09994The following precedence diagram reflects three time estimates for each activity. Determine: Use Table B1 and Table B2. 9-10-12 3 8 5-7-10 8-10-14 11-12-13 6 11 14-18-26 10.5-13-15.5 10 8-8-8 1 5-6-7 2 4 13-13-13 7 7-10-12 a. The expected completion time for each path and its variance. (Round intermediate calculations to 4 decimal places and final answers to 2 decimal places.) Path Mean Var. Std. Dev. 1-2-3-8-11 37.33 1-2-4-6-11 43.00 5.11 1-2-4-7-11 0.81 1-2-5-9-10-11 46.83 1.25 9-9-9 10-11-12 10-12-14
- Create a risk matrix for this project:Event Cost ($000) ProbabilityEquipment breakdown 40 .20Vendor is late with key segment 200 .60Subcontractor has labor issues 140 .30Weather problems 15 UnknownFunding delays 50 .40 to .60Testing delays 20 .40Explain your reasoning for your placement of the events Weather problems and Funding delays.Randall Systems in considering four projects A, B, C and D that have risks associated with the producing benefits. Based on the information given in the table below, which project is more desirable for the company? Project A Project B Project C Project D EUAW Prob. EUAW Prob. EUAW Prob. EUAW Prob. $2,000 0.2 $3,000 0.1 -$5,000 0.2 $4,000 0.4 $1,500 0.5 -$2,500 0.4 $6,500 0.5 $2,500 0.3 $3,000 0.3 $3,500 0.5 $1,000 0.3 -$2,000 0.3What is the minimum cost of crashing the following project that Roger Solano manages at Slippery Rock University by 4 days? Normal Cost $800 $200 $600 $750 $1,200 Normal Crash Activity Time (days) Time (days) 4 3 8 6 The total cost of crashing the project by 4 days is $ ABCDE 487 355 (Enter your response as a whole number.) Total Cost with Crashing Immediate Predecessor(s) $1,500 $1,650 By how many days should each activity be crashed to reduce the project completion time by 4 days? Fill in the table below. (Enter your responses as whole numbers.) Each Activity Should be Reduced BY (days) Activity A B C D E $1,100 $600 $650 A C