6. Project Network & Managing Risks (5 pts.) (Follow Topic 7: Managing Project Risks) A national holiday Toy Project with Quality Check information (duration) below: Answer the questions below, given the predecessor activities. Act. Pess. Act time Variance, 02 Description Critical ID Predecessor Qrem. Most Likely (a) (m) None 10 12 (b) or [(b-a)/ 6142 24 13.67 5.44 (10+4*12+24)/6 = [(24-10)6]^2 A 19 25 17 5 25 7 B 30 A Design package B Design product C Build package D Secure patent E Build product F Quality Check G Paint H Test market B 23 10 39 47 9 10 19 29 6 7 16 E 4 C, D, F F 13 i. ii. Develop a network (you may draw the network using computer or by hand & scan): (2 pts.) What is the project completion time, (Te) (critical path)? (1 pt.) What is the probability of completing the project by day 93 days? (2 pts.) iii. Hints: Step 1: Z = Ts (or X)-Te (or u) 93-4 orvo+og+. = (2) o +0) t Step 2: Once you find the Z-value, then find the P-value (probability) from Normal Table. where t = weighted average activity time a + 4m + b a = optimistic activity time (1 chance in 100 of completing the activity earlier under normal conditions) b = pessimistic activity time (1 chance in 100 of completing the activity later under normal conditions) m = most likely activity time Standard deviation for the activity: b- 0 6