Develop histograms for both the project completion time and the cost to complete the project What do these histograms tell you Using the results of your simulation analysis, calculate the probability that the project can be completed within 30 months What is the probability that the project will take longer than 40 months What is the probability that the proj ect will take between 30 and 40 months What is the probability the project will cost $5 1 million or less to complete The probability the project will cost between $5 and $6 mil lion to complete Activities Pessimistic TE Optimistic Time (months) Most Likely Time (months) Most Likely Cost ($ Month) Most Likely Cost (Project S) Time (months) (Months) A 3 12 24 $ 2,000 00 12 5 S 25,000 00 B 1 2 12 $ 25,000 00 3 5 S 87,500 00 0 25 0 5 1 $ 16,000 00 0 54 S 8,640 00 D 0 2 0 3 0 5 $ 30,000 00 0 32 S 9,600 00 E 0 2 0 3 0 6 $ 30,000 00 0 33 S 9,900 00 F 2 3 6 $ 400,000 00 3 33 S 1,332,000 00 G 8 12 24 $ 125,000 00 13 33 S 1,666,250 00 H 0 5 2 4 $ 300,000 00 2 08 S 624,000 00 I 1 3 12 $ 400,000 00 4 17 S 1,668,000 00 J 0 25 0 5 1 $ 100,000 00 0 54 S 54,000 00 K 0 25 0 5 1 $ 600 000 00 0 54 S 324,000 00 L 0 1 2 $ 100,000 00 1 S 100,000 00 M 0 1 4 $ 50,000 00 1 33 S 66,500 00 Sum 16 65 38 1 92 1 $ 2,178,000 00 43 51 S 5,975,390 00

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Question: Develop histograms for both the project completion time and the cost to complete the project. What do these histograms tell you? Using the results of

Develop histograms for both the project completion time and the cost to complete the project. What do these histograms tell you?

Using the results of your simulation analysis, calculate the probability that the project can be completed within 30 months. What is the probability that the project will take longer than 40 months? What is the probability that the project will take between 30 and 40 months? What is the probability the project will cost $5.1 million or less to complete? The probability the project will cost between $5 and $6 mil- lion to complete?

Activities Pessimistic TE Optimistic Time (months) Most Likely Time (months) Most Likely Cost ($/Month) Most Likely Cost (Project/S) Time (months) (Months) A 3 12 24 $ 2,000.00 12.5 S 25,000.00 B 1 2 12 $ 25,000.00 3.5 S 87,500.00 0.25 0.5 1 $ 16,000.00 0.54 S 8,640.00 D 0.2 0.3 0.5 $ 30,000.00 0.32 S 9,600.00 E 0.2 0.3 0.6 $ 30,000.00 0.33 S 9,900.00 F 2 3 6 $ 400,000.00 3.33 S 1,332,000.00 G 8 12 24 $ 125,000.00 13.33 S 1,666,250.00 H 0.5 2 4 $ 300,000.00 2.08 S 624,000.00 I 1 3 12 $ 400,000.00 4.17 S 1,668,000.00 J 0.25 0.5 1 $ 100,000.00 0.54 S 54,000.00 K 0.25 0.5 1 $ 600.000.00 0.54 S 324,000.00 L 0 1 2 $ 100,000.00 1 S 100,000.00 M 0 1 4 $ 50,000.00 1.33 S 66,500.00 Sum : 16.65 38.1 92.1 $ 2,178,000.00 43.51 S 5,975,390.00

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