2. NYC Real Estate is purchasing an old office building in order to renovate it. The renovation project consists of 7 activities which are given below. The duration of each activity is given in weeks and the precedence relationships among the activities are given as well. Description Immediate Predecessors Activity A Duration (weeks) Secure Financing 4 B Hire Employees - 8 Buy Materials A 6 Purchase Property A 4 E Clean Old Building D 3 F Perform Renovation G Sign Tenants B,C,E D 5 8 a. Draw the precedence diagram for this project. b. Using the critical path method learned in class, determine the earliest start, earliest finish, latest start and latest finish times of each activity. In addition, compute the slack of each activity. c. What is the minimum amount of time needed to complete the renovation project? Also, what are the critical activities and the critical path(s) of the project? 1 Activity Normal Duration (weeks) d. Suppose that due to market competition, NYC Real Estate would like to complete its ren- ovation project within the next 12 weeks. For each week beyond the 12 weeks deadline, it faces a $800 penalty. The following table details NYC Real Estate's project crashing options. Immediate Predecessors Crash Duration (weeks) A 4 3 Normal Crash Crash Cost Cost Cost per Week $1,300 $2,150 B 8 6 $800 $850 $1,700 $450 A 6 6 $2,000 $2,000 D A 4 2 $1,600 $2,200 $300 E D 3 2 $1,500 $1,750 $250 F B,C,E 5 2 $1,000 $2,500 $500 G D 8 4 $2,200 $3,800 $400 Using the greedy method learned in class, crash NYC Real Estate's renovation project for as many weeks as it is profitable to do so. For each week of crashing, identify the activities to be crashed, the cost of crashing and the resulting critical path(s) after performing the crashing. If it no longer becomes profitable to crash the project, then clearly state why