Question: 1)__(18 pts) Many complex projects can be described as a series of stages where each stage represents a sub-project (e.g., the design, coding, and testing

1)__(18 pts) Many complex projects can be

1)__(18 pts) Many complex projects can be described as a series of stages where each stage represents a sub-project (e.g., the design, coding, and testing of a new IT product). This is especially true for new product development (NPD) projects, where a "stage-gate" or toll-gate" can be used between stages to monitor the development process. In this problem, we consider a NPD project that consists of three stages: Stage Start Stage Stage End The duration of each stage is a random variable that is described by a discrete probability distribution as given below. Stage B Stage C Duration Probability | Duration Probability 20 0.3 0.7 0.9 12 Stage A Duration Probability 0.6 0.2 0.2 E[makespan] 13.6 0.1 E[makespan] 23.5 E[makespan 8 .8 a) What is the expected makespan of this project? What is the probability that the project will require at least 47 days? (Do NOT use Monte-Carlo simulation in this problem.) b) Stage A was just completed in 18 days. Using this information, what is your updated estimate of the expected project makespan? What is your updated probability that the project will need at least 47 days

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Many complex projects can be described as a series of stages where each stage represents a sub-project ( e.g ., the design, coding, and testing of a new IT product). This is especially true for new...

help Problem #1 Many complex projects can be described as a series of stages where each stage represents a sub-project (e.g., the design, coding, and testing of a new IT product). This is especially...

Many complex projects can be described as a series of stages where each stage represents a sub-project (e.g., the design, coding, and testing of a new IT product). This is especially true for new...

2) (20 pts) Many complex projects can be described as a series of stages where each stage represents a sub-project ( e.g ., the design, coding, and testing of a new IT product). This is especially...

CHA P TER 9 Understanding Software: A Primer for Managers 1. INTRODUCTION L E A R N I N G O B J E C T I V E S 1. Recognize the importance of software and its implications for the rm and strategic...

\f\f\fChapter 2 Service Strategy Learning Objectives After completing this chapter, you should be able to: 1. Formulate a strategic service vision. 2. Describe how a service competes using the three...

CASE7 Apple Inc.: Performance in a Zero- Sum World Economy Moustafa H. Abdelsamad, Hitesh ( John) Adhia, David B. Croll, Bernard A. Morin, Lawrence C. Pettit Jr., Kathryn E. Wheelen, Richard D....

Describe each of McGuires motives.

Find the limit by converting this into a Riemann sum and then to a definite integral. lim In n 2 1+ + ) ( + ) - (1 + )) n n

In a vertical analysis of a balance sheet, total assets are assigned a percentage of 1 0 0 . True False

atch the compensation objectives with their meanings. Efficiency Efficiency drop zone empty. Fairness Fairness drop zone empty. Compliance Compliance drop zone empty. Improving performance and...