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The critical path is 50 weeks. The cost-plus profit from this venture is agreed to be HK$900,000 if the project can be completed in 50 weeks. Early completion before 50 weeks will earn the company an additional bonus of HK$50,000 per week. However, late completion beyond 50 weeks will result in a penalty of HK$100,000 per week. The additional cost to EM Company Ltd. beyond the expected normal duration is estimated to be HK$50,000 per week. Non-completion of the project beyond 55 weeks will be unacceptable to the client and EM Company Ltd. will have to bear all the project costs, estimated to be HK$2,000,000 (plus additional costs beyond the normal expected project duration) without compensation from the client. (a) What is the project's normal expected duration and the expected profit? (b) 'What is EM's profit and the probability of project being completed by 49weeks and 53 weeks respectively? (c) If EM Company Ltd. has to make at least HK$700,000 on the project, within how many weeks must the project be completed and what is the probability of EM achieving that? Project Tasks Duration (weeks): Optimistic Estimate Most Likely Duration Pessimistic Estimate 7 30 11 Be 11 11 ce 62 9 12 De 9 12e 15 8 8 E 8 8 Fe 7 13 194 G 4 8 12 He 10 16 8 13 15 6 IC Je 202 5 + Project Tasks Preceding Task(s) Project Task Duration (weeks): Optimistic Estimate Most Likely Duration Pessimistic Estimate A 34 4 7 ke A 11 11 114 B2 C- A 64 94 124 D- A 12 9 84 15 84 E B2 82 Fe De 7 134 19 G E 84 12 E.C 104 16 ke 900 F2 84 134 15 64 204 J HI 54 7