Problem #1 Assume you are managing a project and below is the information shown on Problem-1 Data worksheet. 1.1 Determine the critical path and the length of the critical path (i.e., the project's expected duration). (15 points) 1.2 Estimate the probability of finishing the project in 28 days or less. (15 points) 1.3 You learn you can receive a significant bonus if the project finishes on day 25. What is the probability of this occurring? (15 points) 1.4 To provide your top managers with a 95% assurance of finishing on time, how long should the project's duration be? (Optional, Bonus #1: 8 points) Activity A Immediate Predecessor none A A B, C D F E, G B D E F G H Optimistic Time Most Likely Time Most Likely Time Pessimistic Time Estimate (a) Estimate (m) Estimate (b) 2 5 8 6 10 2 4 6 7 15 4 8 2 3 6 4 5 9 1 2 5 WANN W LOI Problem #1 Assume you are managing a project and below is the information shown on Problem-1 Data worksheet. 1.1 Determine the critical path and the length of the critical path (i.e., the project's expected duration). (15 points) 1.2 Estimate the probability of finishing the project in 28 days or less. (15 points) 1.3 You learn you can receive a significant bonus if the project finishes on day 25. What is the probability of this occurring? (15 points) 1.4 To provide your top managers with a 95% assurance of finishing on time, how long should the project's duration be? (Optional, Bonus #1: 8 points) Activity A Immediate Predecessor none A A B, C D F E, G B D E F G H Optimistic Time Most Likely Time Most Likely Time Pessimistic Time Estimate (a) Estimate (m) Estimate (b) 2 5 8 6 10 2 4 6 7 15 4 8 2 3 6 4 5 9 1 2 5 WANN W LOI