It is important for project management professionals to be able to review numbers and report on what they are saying. It is also important for you, as a project manager, to be able to use software that helps you keep timelines and keep the project running on time and smoothly. This assignment will continue to help prepare you for your responsibilities.

You are a project managerwho has successfully completed the project from Topics 2 and 3. A program manager from another division is aware of your familiarity and success with the Technology Refresh Project. He has asked you to perform a schedule risk analysis on a different Technology Refresh Project (i.e., the Technology Refresh [Version B]Project), which is based on your project from Topics 2 and 3. In fact, the project tasks are the same, only the durations and the critical paths are different. (Note: Your project files from Topics 2 and 3 are not relevant to this assignment.)

Perform a schedule risk analysis for the Technology Refresh Project (Version B) by completing the following:

Open the attached "Project Risk Assessment Problems Template." Take note of the project information, including the expected durations and the tasks that are on the critical path.

Calculate the following:

1. The expected project finish time.

2. The variances for the applicable tasks.

3. The total critical path variance.

4. The total critical path standard deviation.

The customer has seen the Technology Refresh (Version B) Project schedule and the expected project finish time. However, the customer is concerned about the schedule risk of the project. Therefore, he wishes to know the following (i.e., determine the following):

5. The probability of finishing the project in 287 days.

6. The probability of finishing the project in 273 days.

Hint: Before answering the questions, review the "PERT Variance and Probability of Project Completion" video, located in the Topic 4 Resources.

7. Note also that Microsoft Excel's NORM.DIST function can be used to determine the probabilities of finishing, which does not require the use of the Z-table.

How do I set up the formulas on the spreadsheet?

Duration (days) Duration (days) Critical Path Variance ID Task Duration (days) Duration (days) TECHNOLOGY REFRESH (VERSION B) PROJECT N - Initiating Meet with key stakeholders 12 Finalize statement of work 15 Secure project team leads NNNNNN Finalize stakeholder register Develop project charter Finalize project charter Planning 10 Scope Planning 11 Requirements V Develop/finalize functional requirements Develop/finalize hardware requirements Develop/finalize software requirements Develop/finalize requirements traceability matrix WONGNO CO Finalize project deliverables 17 Develop scope statement 18 Finalize/Update WBS 19 Schedule (Time) and Cost Planning 20 Finalize hardware/software costs ON 21 Update activities and duration estimates 22 Human Resource Planning 23 Finalize resource requirements 24 Finalize project costs ONAD 25 Identify training requirements 26 Complete training activities 27 Quality Planning 28 Determine impacted quality processes NN 29 Finalize quality management plan 30 Risk Planning V 31 Update project risks 32 Draft risk register NNW 33 Finalize risk management plan 34 Finalize Project Plan 35 Finalize communications management plan 36 Finalize procurement management plan 37 Finalize stakeholder management plan AUISNOW NNNNNN 38 Finalize project schedule/cost baseline 39 Finalize project plan 40 Obtain approval for project plan 41 Executing 42 Hardware 32 V 43 Procure hardware from suppliers 10 24 2342 Hardware Procure hardware from suppliers 23 44 Software 45 Obtain software OS licenses 46 Obtain software application licenses Pilot Testing Setup test area CO CO N Load software onto pilot machines Validate functionality Deployment Configure production hardware 24 Deploy production hardware Load software to deployed hardware 17 Testing Validate startup on deployed hardware Perform OS testing Perform application testing Obtain formal sign-off from users Monitoring and Controlling Formal Customer Review 1 Hold formal customer review after project plan approval V = W A - Update project plan Formal Customer Review 2 Obtain updates regarding key deliverables from project team GER Hold formal customer review after pilot testing Update project plan Closing 71 External 72 Finalize procurement with suppliers 24 17 Customer Approval Hold final customer review 75 Prepare/submit final customer report WUON Nww- 76 Audit against contractual deliverables 75 Obtain final customer approval 78 76 Internal 79 77 Hold lessons learned meeting NN - 80 78 Update final internal report 81 79 Hold project team celebration event 82 Total Critical 83 Expected Project Finish Time: Path Variance: days days Total Critical Path Stand Idays inishing the project in 287 days is or 1% inishing the project in 273 days is or