PROD 315 Summary Assignment 8 - Project Management Due 11:59 pm on Friday, April 30 Here is one problem and a set of questions related to all the quantitative analysis in project management. Diagrams, distributions and calculations can be handwritten- make sure to submit as a pdf. The following table provides data for a project. Use the data to answer the following questions Activity Immediate Time Estimates (weeks) Predecessor Optimisti Most Pessimisti Expected Variance C Likely A 6 7 14 B 8 10 12 C A 2 4 A 6 7 8 B,C 5 5.5 9 F 5 7 9 G DE 4 6 8 H F 2.5 3 3.5 a. Draw a network to represent the above project. L- L=17 0 $ 02 0 19:17 G.CO 3.0 E=23 L=23 Elle #3 L = 11 I critical Path duration t=18 L=20 A-C-E-G 23 weeks b. What is the critical path? What is the expected completion time? What is the variance of the project completion time? (Complete the expected task time and variance of time calculations.) 1 E-mly. c. What is the probability that the project will be completed in 20 weeks? 1354 Probability of 1-.9953: 0047 Completion in 76 PLUS d. What is the probability that the project will take more than 26 weeks to complete? U-23 = 2.59945338 I probability: 0.9953 e. For these two questions, assume that the expected times you calculated are the deterministic single point estimates of time. i. Because of work in other projects, the manager realizes that is very likely that activity B will take 5 more weeks than initially determined. What is the new completion time for the project, given this information? Answer E-only ii. The manager wants to reduce the project time by two weeks. How can this be achieved? What are the implications? (Answer this question conceptually.)