Project Management Exercise - 5% Answer the questions below. Please make your answers as complete and specific as possible. Once all four questions are completed, upload your assignment for grading. Note: There are three different networks being discussed in this exercise 1. For the following project, draw the network diagram (reasonably neat). Activity Time Estimate (weeks) Predecessors A 3 B 5 A C 3 A D 1 C E 3 B F 4 B, D G 2 C H 3 G, F I 1 E, H 2. Using this second network, which is measured in weeks, determine the earliest and latest start and finish times, along with the slack time for each operation, and fill in the table below the diagram. Activity Early Start Early Finish Late Start Late Finish Slack Time A B C D E F G H I J Please state the critical path _______________________________ How long will the project take to complete? __________________ 3. Using the second network (step 2), assume that the time estimates were derived from the following estimates: optimistic, most likely and pessimistic: A B C D E F G H I J ET 3 7 4 5 8 6 4 6 5 2 a 1 5 2 3 5 4 2 6 2 1 m 2 6 3 5 7 5 4 6 4 2 b 9 13 10 7 15 12 6 6 12 3 Determine the probability that this project can be completed in 21 weeks. Show all work and calculations. 4. In the third network for yet another project, data have been collected in anticipation of spending some money to reduce the project length (i.e., "crash" the project). For the third network and associated cost data, determine the least costly way to shorten the overall project duration by three weeks. That is, which activities should be "crashed" and by how many weeks each? What is your total cost of crashing? (Activity times are in weeks.) 12 D 10 7 B 6 G 10 6 A E 8 I 9 C 14 F H Activity A B C D E F G H I Normal Time (weeks) 6 10 8 12 10 14 7 9 6 Total Normal Cost $6,000 10,000 8,000 12,000 10,000 14,000 7,000 9,000 6,000 * An activity cannot be shortened to less than its crash time. Crash Time * (weeks) 4 9 7 10 7 12 5 6 5 Total Crash Cost $12,000 11,000 10,000 14,000 12,000 19,000 10,000 15,000 8,000