Recently, you were assigned to manage a project for your company. You have const

Question

Recently, you were assigned to manage a project for your company. You have constructed a network diagram depicting the various activities in the project (shown below to the right). In addition, you have asked your team to estimate the amount of time that they would expect each of the activities to take. Their responses are shown in the following table: What is the expected completion time of the project? The expected completion time is 20 days. (Enter your response as an integer.) What is the probability of completing the project in 22 days? Refer to the standard normal table. The probability of completing the project in 22 days is. (Enter your response rounded to four decimal places.)

Explanation / Answer

ACTIVITY OPTIMISTIC TIME (to) MOST LIKELY TIME (tm) PESSIMISTIC TIME (tp) MEAN COMPLETION TIME (E = (to+4tm+tp)/6) VARIANCE, V =((tp-to)/6)^2 ES EF LS LF SLACK (LS-ES) CRITICAL ACTIVITY A 6 7 12 7.67 1.00 0.00 7.67 0.00 7.67 0.00 Yes B 4 8 12 8.00 1.78 0.00 8.00 4.17 12.17 4.17 No C 4 6 8 6.00 0.44 7.67 13.67 14.00 20.00 6.33 No D 1 5 6 4.50 0.69 7.67 12.17 7.67 12.17 0.00 Yes E 4 8 11 7.83 1.36 12.17 20.00 12.17 20.00 0.00 Yes Critical Path =Start- ADE - Finish z=(T-C)/V0.5 where, T= Desired Completion time = 22 days C = Completion time = 20 days (a) V = variance = 3.06 z 1.143324 Looking in the std. normal table for corresponding probability: Probability 0.8735 (b)

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