Case 5: Program Evaluation and Review Technique - PERT (10 Marks) You have just been promoted as an assistant to the VP-Projects at Maple Leaf Oil, a listed company with annual revenues of about OMR 250 million. In addition to the promotion and its accompanying raise, you have just received your recent bonus and a special grant of stock. Because oil prices have been reached new highs the bonuses were equal to your annual salary and you received restricted shares equal to twice your annual salary. Your first assignment is to accompany your boss to a meeting with the company's CEO, Executive VP, and the board of directors and the founders of the company. The company have announced a project expansion in an emerging market in the Europe. This high profile project will entail an investment of substantive amount. After the meeting, the VP Projects requested you to present a project scheduling report based on probabilistic estimates of time. You have gathered the following data from the team; Activity Predecessor Activity Optimistic Most Likely Pessimistic Expected Time B 4 12 59 14 DF H GH Required: (Please show your solutions/calculations as required) A. Discuss the benefit of using PERT over CPM. [Answer in 50-75 words) (2 Marks) B. How does PERT add value to the project. (2 Marks) C. Using PERT, construct the network diagram. Complete the following table. (6 Marks) ES E F LSLF Slack/Float ACTIVITY A B D