The key project management tools used to develop accurate and effective schedules include Network Diagrams, Gantt charts and Critical Path analysis. The goal of schedule development is to create a realistic project schedule that forms the basis for monitoring project progress. In terms of assigning activity durations, there are two primary alternatives. These are based on the critical path method (CPM) or the program evaluation and review technique (PERT).

KEM Ltd is a manufacturing tool company and has embarked on a new product development. Given that one of the component is still under prototype stage, the work package activities for this component is expected to have the following optimistic, most likely or pessimistic schedules days. The target time to complete this process is set to 42 days

Activity	Optimistic Time	Most Likely Time	Pessimistic Time
A-B	2	4	6
B-C	6	10	14
B-D	4	8	16
C-E	6	8	10
C-F	2	10	14
D-F	8	12	18
E-G	12	16	24
F-G	2	4	6

You are required to:

1. Give a brief description of the CPM and PERT techniques, specifying under which condition they are most suitable. (5 marks)

2. From the above Schedule table, calculate the mean for each activity (provide the formula used) and draw the Network Diagram showing the Critical Path and its project mean duration. (10 marks)

3. Calculate the Standard Deviation based on the critical path, the mean difference and the standardised mean difference and state the probability that the work package can be completed within the set target time. (10 marks)