QUESTION $3$

$($a$)$ During project management execution, a budget helps project managers to accomplish

five business practices critical in the project. Briefly explain how these practices are

enhanced by a good budget guideline.

$[10]$

$($b$)$ Below are the critical activities of a PERT diagram. The optimistic time $($a$),$ most likely

time $($m$),$ and pessimistic time $($b$)$ are shown at the bottom of each activity.

i$)$ Calculate the estimated time $(t_e)$ for each activity.

ii$)$ Calculate the optimistic, pessimistic, and expected time for completing the illustrated

project

$[4]$

iii$)$ Determine the probability that this project can be completed in $34$ days

iv$)$ For a $99\%$ probability, determine the expected number of days for completion $[3]$