Question: 3. (30 points) The table below lists the activities required to complete an equipment installation project. Also included are expected (normal) activity times and variances,

3. (30 points) The table below lists the

3. (30 points) The table below lists the activities required to complete an equipment installation project. Also included are expected (normal) activity times and variances, precedence requirements, normal costs at expected times, and the cost to expedite by 1 week. Any activity can only be expedited by 1 week maximum. Activity times (in weeks) and variances are the project, but it has no time or cost value. (a) Draw the network diagram, labeling all activities and times. What is the expected duration of the project? (b) What is the probability the project can be finished within 30 weeks? How much would it cost and which activities would you expedite to reduce the expected duration of the project by (c) 1 week?? Activity Immediate Normal Expedited Normal Expedited predecessor time time cost ($) cost ($) 0 5 6,000 7,900 4,000 3,000 4 2 6 4 8,000 10,200 10,000 13,000 6.000 7,800 4.5 5,000 6,500 6 9,000 11,000 7,8 2 1000 1200 1 0 0 0 1 4 2 3 1 4 2 5 8 3 3 5 3 6 4 7 4 2 6 4 8 9 2

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!