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QUESTION ONE Consider the simplified scenario for the development of a consumer product through the market test phase shown in the table below. Activity Symbol Preceding activities Time estimated (weeks) Design promotion campaign Initial pricing analysis Product design Promotional costs analysis CO N - O - UI AU Manufacture prototype models SHOP. Product cost analysis Final pricing analysis B, D, F Market test Draw the network for this project. Calculate the slacks and interpret their meaning. Determine the critical path and interpret its meaning. Construct a time chart and identify scheduling flexibilities. QUESTION TWO a) For the product development project in question 1 consider the detailed time estimates given in the following table. Note that time estimates in the preceding exercise are equivalent to modal time estimates in this exercise. Time Estimates (weeks) Activity Optimistic Most likely Pessimistic WNI 10 Re-label your network in the question 1 to include expected duration di (in place of activity duration di and variances off. Use equations below di = - ajj + 4m; + b;; bij - dij and 6 6 0jj =bij -ajj or where: ajj - optimistic time b ) Compare slacks to those in question 1. bij - pessimistic time Has the critical path changed? mj - most likely time Determine the following probabilities: That the project will be completed in 22 weeks or less. ii ) That the project will be completed by its earliest expected completion date. iii) That the project takes more than 30 weeks to complete. QUANTITATIVE TECHNIQUES