A project has four activities (A, B, C, and D) that must be performed sequentially. The probability distributions for the time required to complete each of the activities are as follows: The project manager assumed that activity times could be modelled by discrete probability distribution. a) Provide the base-case, worst-case, and best-case calculations for the time to complete the project using the manual what if approach. b) Construct a spreadsheet model using 1000 trials to simulate and estimate the following: i. The average amount of time it takes to complete the project. ii. The standard deviation of the amount of time it takes to complete the project. iii. The probability that the project will be completed in 35 weeks or less. c) Use a graphical output to analyse the results of the simulation. d) Briefly comment on how the simulation approach is better than the manual what if analysis for the estimation of project completion time? Activity Activity Time (Weeks) Probability

A project has four activities (A, B, C, and D) that must be performed sequentially. The probability distributions for the time required to complete each of the activities are as follows: The project manager assumed that activity times could be modelled by discrete probability distribution. a) Provide the base-case, worst-case, and best-case calculations for the time to complete the project using the manual what if approach. b) Construct a spreadsheet model using 1000 trials to simulate and estimate the following: i. The average amount of time it takes to complete the project. ii. The standard deviation of the amount of time it takes to complete the project. iii. The probability that the project will be completed in 35 weeks or less. c) Use a graphical output to analyse the results of the simulation. d) Briefly comment on how the simulation approach is better than the manual what if analysis for the estimation of project completion time