Question: 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
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:
| Activity | Activity Time (weeks) | Probability | ||
| A | 4 | 0.25 | ||
| 5 | 0.33 | |||
| 6 | 0.20 | |||
| 7 | 0.22 | |||
| B | 5 | 0.24 | ||
| 7 | 0.56 | |||
| 9 | 0.20 | |||
| C | 11 | 0.08 | ||
| 13 | 0.25 | |||
| 15 | 0.35 | |||
| 17 | 0.17 | |||
| 19 | 0.15 | |||
| D | 12 | 0.61 | ||
| 14 | 0.39 | |||
a. Provide the base-case, worst-case, and best-case calculations for the time to complete the project.
| Activity | Base case | Worst case | Best case |
|---|---|---|---|
| A | _weeks | _weeks | _weeks |
| B | _weeks | _weeks | _weeks |
| C | _weeks | _weeks | _weeks |
| D | _weeks | _weeks | _weeks |
| Total | _weeks | _weeks | _weeks |
b. Use the random numbers 0.3432, 0.8123, 0.1338 and 0.94 to simulate the completion time of the project in weeks.
| Activity | Random Number | Completion Time |
|---|---|---|
| A | 0.3432 | _weeks |
| B | 0.8123 | _weeks |
| C | 0.1338 | _weeks |
| D | 0.94 | _weeks |
| Total | _weeks |
c. *(Fill in the blank)* Discuss how simulation could be used to estimate the probability that the project can be completed in weeks or less. Simulation provides a distribution of project completion times. The *(Mean/Percentage)* of times weeks and under can be used to estimate the probability that the project will be completed within weeks.
Please answer the questions in the format in which they are presented. Thank you!
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
