Expert solution

Solution Requirements

Utilize Microsoft Excel to complete the following steps:

Draw the project network diagram.

Calculate the expected activity time, standard deviation, and variance for each activity. Create a table to display the results.

Find the critical path. Utilize a forward and backward pass analysis. Create a table to display ES$,$ EF$,$ LS$,$ LF$,$ and slack Calculate the expected project completion time and the standard deviation of the critical path. Use the expected time activity time in your calculations.

Find the probability of completing in $270$ days.

Examine the possibility of crashing the project to $250$ and $240$ days. In order to do this, use the optimistic time as the crash time, and calculate the lowest possible total cost of crashing using the cost per day. The crash cost$/$day is given to you in the chart.

Provide recommendations to managers of actions that should be pursued. Share your own insights that you discovered while solving the problem.