Consider the data for a simple project as given in the following table. (a) Note that this
Question:
Consider the data for a simple project as given in the following table.
(a) Note that this project has only one path. What is the expected completion time of the project?
(b) What is the probability of the project being completed within 38 days?
(c) Suppose that the project manager can make some investments to reduce the pessimistic time for activity B. What would the new pessimistic time for activity B need to become (rounded to two decimal places) to ensure that the probability of the project being completed within 38 days is at least 90%? Hint: Consider using Excel’s Goal Seek.
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a The expected completion time of the project can be calculated using the formulaExpected time a 4m ...View the full answer
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