Time-Cost Trade-off Analysis Consider a project with the following network and cost data. ID A B C D E F G I Immediate Normal Normal Cost Crash Time Task Description Predecessor Time (days) ($ 000) (days) Review System Requiremen 4 200 2 Define Scope 5 150 5 Design Input and Output B 8 100 7 Design Database B 6 150 5 Develop Input Screens C 9 120 8 Develop Output Reports C 10 150 8 Develop Database D 2 140 1 Test System E,F,G 6 250 5 Implement System H 5 90 5 Crash Cost ($ 000) 300 150 120 210 200 230 180 400 90 For example, the normal time for task A is 4 days. But, you can reduce it down to 2 days (i.e. crash the task duration by 2 days if needed) but you have to pay extra $100K (=$300K $200K) to shorten the duration by 2 days or $50K by 1 day. Confirm that the project duration with the normal times is 38 days. You do not need to show your work here. This step is for you to formulate the correct starting point a. [2 points] Compute the crashing cost per day (slope) for each activity. b. [8 points] What is the cheapest possible way to reduce the project duration by 3 days (to 35 days)? Which activities would you crash? What is the extra cost? You can answer this question using Excel Solver or the manual methodology