A project manager has compiled a list of major activities that will be required to install a computer information system in her firm. The list includes estimated completion times for activities and precedence relationships.

a) Calculate the expected time and variances for all the activities.

b) What is the expected duration of the project?

c) If the project is finished within 26 weeks of its start, the project manager will receive a bonus of $1,000; and if the project is finished within 27 weeks of its start, the bonus will be $500. Find the probability of each bonus.

How to read the time estimates in the table? - the time estimates are given in the following order: optimistic time - most likely time-pessimistic time

4. A project manager has compiled a list of major activities that will be required to install a computer information system in her firm. The list includes estimated completion times for activities and precedence relationships. a) Calculate the expected time and variances for all the activities. (2 points) b) What is the expected duration of the project? (1 point) c) If the project is finished within 26 weeks of its start, the project manager will receive a bonus of $1,000; and if the project is finished within 27 weeks of its start, the bonus will be $500. Find the probability of each bonus. (1.5 points +1.5 points =3 points ) How to read the time estimates in the table? - the time estimates are given in the following order: optimistic time - most likely time - pessimistic time