VS. a Part C. Application Problems (60 pts total). Read the following instructions carefully. Make sure you carefully construct and fully label the diagrams. Neatness counts! 1. (30 pts) A project has been defined to contain the following list of activities (each identified by letter). Cost (normal Activities Immediate Time Time Time Estimated Crash Crash Predecessors b Duration Duration crashed) Cost/day 8 10 18 11 $100/$100 B A 2 8 10 3 $450/$750 B 9 12 23 11 $240/$300 D* 15 16 22 15 $350/$380 E C D 6 8 10 6 $150/$280 F D 4 10 15 9 $200/$250 G E,F 8 16 $300/$400 * No partial crash possible 9 8 a. (4 pts) Use the 3-point estimation method (PERT) to calculate Estimated Durations and enter in the table. Round results to the nearest whole number. b. (4 pts) Calculate and enter the Crash Cost per Day in the table. Round to the nearest whole number. C. (12 pts) Draw and fully label the network diagram based on information in the table (include Early Start & Finish and Late Start & Finish). d. (4 pts) What is the significance of the critical path in any project? Which tasks are on the critical path here? e. (6 pts) Assume that it is the first day of the project & you need to reduce the project estimated completion duration by 4 days. Find the least expensive way to crash the project to save these 4 days. Show your work. and circle the alternative you recommend