Problem 4-12 (Static)

The following table represents a plan for a project:

		TIMES (DAYS)
JOB NO.	PREDECESSOR JOB(S)	a	m	b
1		2	3	4
2	1	1	2	3
3	1	4	5	12
4	1	3	4	11
5	2	1	3	5
6	3	1	2	3
7	4	1	8	9
8	5, 6	2	4	6
9	8	2	4	12
10	7	3	4	5
11	9, 10	5	7	8

b. Indicate the critical path.

• 1-3-6-8-9-11

• 1-2-5-8-9-11

• 1-4-7-10-11

c. What is the expected completion time for the project? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Expected completion time ___ days

d. You can accomplish any one of the following at an additional cost of $1,500. If you will save $1,000 for each day that the earliest completion time is reduced, which of the following actions should be taken, if any?

1. Reduce job 5 by two days.

• Yes

• No

2. Reduce job 3 by two days.

• Yes

• No

3. Reduce job 7 by two days.

• Yes

• No

e. What is the probability that the project will take more than 30 days to complete? (Use Excel's NORMSDIST() function to find the correct probability for your computed Z-value. Other than the expected completion time you entered in part c above, do not round intermediate calculations. Round "z" value to 2 decimal places your final answer to 4 decimal places.)

Probability ____