a) What does PERT stand for? What is the fundamental statistical theory, which was used to...

 

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a) What does PERT stand for? What is the fundamental statistical theory, which was used to develop this technique? b) Briefly explain the importance of using this technique in Engineering project management and state advantages and disadvantages of this evaluation system c) Briefly explain the reasons for incorporating network analysis in PERT technique d) State the stepwise PERT procedure of evaluating project performance to predict the completion time with scheduled completion time e) The probabilistic activity times of a project are illustrated in the Table below. Using CPM/PERT method, determine the probability of completing the project in 50 days. What should be the time must be allowed to achieve a 95% probability of timely completion? Activity Time (Days) Activity Predecessor Optimistic Most Likely Pessimistic a b - - 10 22 22 20 20 4 10 - d a 2 14 e b,c 8 8 f b,c 8 14 21222 20 16 32 20 20 g b,c 4 4 4 h C g,h d,e 262 2 12 16 Activate 16 38 Go to Setting 2 8 14 a) What does PERT stand for? What is the fundamental statistical theory, which was used to develop this technique? b) Briefly explain the importance of using this technique in Engineering project management and state advantages and disadvantages of this evaluation system c) Briefly explain the reasons for incorporating network analysis in PERT technique d) State the stepwise PERT procedure of evaluating project performance to predict the completion time with scheduled completion time e) The probabilistic activity times of a project are illustrated in the Table below. Using CPM/PERT method, determine the probability of completing the project in 50 days. What should be the time must be allowed to achieve a 95% probability of timely completion? Activity Time (Days) Activity Predecessor Optimistic Most Likely Pessimistic a b - - 10 22 22 20 20 4 10 - d a 2 14 e b,c 8 8 f b,c 8 14 21222 20 16 32 20 20 g b,c 4 4 4 h C g,h d,e 262 2 12 16 Activate 16 38 Go to Setting 2 8 14