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2: PROJECT MANAGEMENT / PERT-CPM The following table provides the information necessary to construct a project network and project crash data. Activity Predecessor Normal Time Normal Cost Crash Time Crash Cost A 5 $50 $150 B 4 40 2 200 C B 7 70 6 160 D A. C 2 20 50 E A, C 3 30 3 40 F B 8 80 5 290 G D 5 50 4 100 H H E, F 6 60 3 180 1. Draw the network and find the critical path, time, and cost for an all-normal level of project activity. 2. Find the optimal way of getting an 18-day delivery time. What is the project cost?3: DECISION-MAKING UNDER UNCERTAINTY When a new shopping center is built, the electric company must assign a transformer to the location. Since this is done before the occupants of the shopping center are known, there is uncertainty about the amount of electricity to be used (e.g., beauty salons use much more electricity than toy store) and hence, uncertainty about the size of the transformer needed. A too small transformer would have to be replaced, and one too large would result in more expense than necessary. A table giving these costs is shown below. Suppose for a given shopping center, the following probabilities (p) are assigned to the amount of electricity ultimately needed. Using the EMV criterion, (a) what decision should be made? (b) What is the expected value of perfect information? Amount of electricity Size of transformer originally installed ultimately needed Small Medium Large Little (p=0.2) 50 100 150 Medium (p=0.7) 140 100 150 Much (p=0.1) 190 190 150