Question: Problem 3 Consider the following information about a probabilistic project: Time (weeks) Immediate Predecessors Activity A Optimistic 1 Likely 3 7 Pessimistic 8 11 B

Problem 3 Consider the following information about a probabilistic project: Time (weeks) Immediate Predecessors Activity A Optimistic 1 Likely 3 7 Pessimistic 8 11 B A 2 A 4 6 D B E 7 10 3 5 3 4 D, E F 10 15 16 15 12 F 6 G 7 a. Calculate the expected durations and the variance (or standard deviation) for each activity. b. What is the expected project completion time and the project standard deviation? c. What is the likelihood the project will be finished by week 38? d. If you wanted to be 99% confident of delivering the project on time, how much additional time would you need to add to the schedule

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