Question: TCSAR Ltd. Is negotiating with its client about the completion time of a certain construction project. The three-way estimate of the duration of each project

TCSAR Ltd. Is negotiating with its client about
TCSAR Ltd. Is negotiating with its client about the completion time of a certain construction project. The three-way estimate of the duration of each project task are given in the Table 1 below: Task Preceding Task Optimistic 5 Duration in weeks Most Likely 6 Pessimistic 7 A B 6 6 8 A 4 7 D 3 5 5 7 9 E 6 9 F B 8 9 10 G D 6 8 12 6 8 H 1 E, F 6 G, H 1 2 Table 1: PERT Estimates of Project Task Duration 3 a) Draw the PERT network, identify the critical path and calculate the normal expected completion time for this project. (5 marks) b) Determine the probability of completing this project by 27 weeks. (2 marks) c) Explain why the project manager is required to identify both critical and non-critical tasks of a project (4 marks) d) List TWO (2) examples of Build Operate Transfer construction projects in Hong Kong. (2 marks) e) The contract type of this construction project is Unit Price Contract, explain the major characteristics of Unit Price Contract. (3 marks) 1) Distinguish the major differences between TWO (2) terms Bonds and Stocks. (4 marks)

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