Addendum to the case: Managing Hard Rock's Rockfest (Pages# 104-106)

Questions 6 & 7 from second page.

Addendum to the Case: Managing Hard Rock's Rockfest (Pages# 104-106) Answer Q1, 2, 3, and 4 from the prescribed textbook first. Q5: Further to Chris Tomasso's expression of surprises, the company has now decided to work on three time estimates in lieu of the deterministic time estimates used before. The company is confident that while the Most Likely Time estimate for each activity will follow the current activity time presented in column #4 for the same activity, the Optimistic Time estimate will be 25% lower than the Most Likely Time Estimate, and the Pessimistic Time will be 40% more than the Most Likely Time Estimate. For instance, activity A that has Most Likely Time estimate of 7 weeks will have an Optimistic Time estimate of 5.25 weeks (7 x 0.75 = 5.25 weeks) and Pessimistic Time estimate of (7 X 1.4 =9.8 weeks). Complete an appropriate chart to show the (a) critical path on an AOA Network, (b) project completion time, (c) probability that project will be completed in less than 33 weeks? Q6: Further to the data provided above for 3 estimates, the management is now contemplating to crash the network to the minimum possible time under the crash cost schedule provided below. (a) What would be the minimum duration of the project?, and (b) what is the corresponding crash cost? (c) If the management wants to crash the project down to 29.85 weeks only, what will be the total cost incurred and corresponding crash schedule? You must submit computer outputs (original) for questions #5 and #6 to earn credits. Activity Normal Time in Crash time in Normal Cost ($)** Crash Cost ($) weeks weeks | A 7.175 6 10000 11500 B 2 8000 9000 C 2.5 15000 16000 D 4 7250 7895 E 5.5 7500 10000 F 3.5 8000 9000 G 1.95 1000 1250 H 3.5 5500 5800 I 3 10000 15000 J 8 2000 5000 K 0.1 7000 8000 L 0.5 8000 9000 M 7.5 6000 9000 N 5.5 5000 7000 0 5 6000 8000 P 18 6000 9000 Q 3.5 8000 9000 R 2.5 6000 8000 S 2.5 9000 10000 T 3 8000 8200 U 5 7000 8000 V 6 5000 5600 W 3.5 8000 9500 X 7 10000 15000 Y 5.5 5000 10000 z 5.5 6000 8000 "Populate this column from your calculation from question #5. For example the entry corresponding to activity A = (a + 4m + b)/6 = (5.25+4* (7)+9.8)/6 = 7.175 (Rounded to three decimal points) ** Cost data in the above columns are fictional and have been incorporated to test your knowledge of project management. Case Study #1 Grading Rubrics (Must be attached to the last page of the Case study). Do not write on this page 1. Introduction: /10 2. Q1 of the textbook (Be sure to show the network diagram) /15 3. Q2 of the textbook /5 4. Q3 of the textbook /5 5. Q4 of the textbook (Show a WBS diagram with activities on different levels) /10 6. Addendum questions 5 (a) /5 Addendum question 5 (b): Computer Output is required to get full credits /10 Addendum question 5 (c): You must show your work as to how did you arrive at the solution? Mere mention of the probability number will number will not earn credits /15 7. Addendum question 6(a): Computer output is required. You must interpret and explain the computer output. /10 Addendum question 6 (b): Computer output is required. You must interpret and explain the computer output. /10 Addendum question 6 (c): Computer output is required. You must interpret and explain the computer output. /10 II 8. Conclusion and Recommendations /5 Addendum to the Case: Managing Hard Rock's Rockfest (Pages# 104-106) Answer Q1, 2, 3, and 4 from the prescribed textbook first. Q5: Further to Chris Tomasso's expression of surprises, the company has now decided to work on three time estimates in lieu of the deterministic time estimates used before. The company is confident that while the Most Likely Time estimate for each activity will follow the current activity time presented in column #4 for the same activity, the Optimistic Time estimate will be 25% lower than the Most Likely Time Estimate, and the Pessimistic Time will be 40% more than the Most Likely Time Estimate. For instance, activity A that has Most Likely Time estimate of 7 weeks will have an Optimistic Time estimate of 5.25 weeks (7 x 0.75 = 5.25 weeks) and Pessimistic Time estimate of (7 X 1.4 =9.8 weeks). Complete an appropriate chart to show the (a) critical path on an AOA Network, (b) project completion time, (c) probability that project will be completed in less than 33 weeks? Q6: Further to the data provided above for 3 estimates, the management is now contemplating to crash the network to the minimum possible time under the crash cost schedule provided below. (a) What would be the minimum duration of the project?, and (b) what is the corresponding crash cost? (c) If the management wants to crash the project down to 29.85 weeks only, what will be the total cost incurred and corresponding crash schedule? You must submit computer outputs (original) for questions #5 and #6 to earn credits. Activity Normal Time in Crash time in Normal Cost ($)** Crash Cost ($) weeks weeks | A 7.175 6 10000 11500 B 2 8000 9000 C 2.5 15000 16000 D 4 7250 7895 E 5.5 7500 10000 F 3.5 8000 9000 G 1.95 1000 1250 H 3.5 5500 5800 I 3 10000 15000 J 8 2000 5000 K 0.1 7000 8000 L 0.5 8000 9000 M 7.5 6000 9000 N 5.5 5000 7000 0 5 6000 8000 P 18 6000 9000 Q 3.5 8000 9000 R 2.5 6000 8000 S 2.5 9000 10000 T 3 8000 8200 U 5 7000 8000 V 6 5000 5600 W 3.5 8000 9500 X 7 10000 15000 Y 5.5 5000 10000 z 5.5 6000 8000 "Populate this column from your calculation from question #5. For example the entry corresponding to activity A = (a + 4m + b)/6 = (5.25+4* (7)+9.8)/6 = 7.175 (Rounded to three decimal points) ** Cost data in the above columns are fictional and have been incorporated to test your knowledge of project management. Case Study #1 Grading Rubrics (Must be attached to the last page of the Case study). Do not write on this page 1. Introduction: /10 2. Q1 of the textbook (Be sure to show the network diagram) /15 3. Q2 of the textbook /5 4. Q3 of the textbook /5 5. Q4 of the textbook (Show a WBS diagram with activities on different levels) /10 6. Addendum questions 5 (a) /5 Addendum question 5 (b): Computer Output is required to get full credits /10 Addendum question 5 (c): You must show your work as to how did you arrive at the solution? Mere mention of the probability number will number will not earn credits /15 7. Addendum question 6(a): Computer output is required. You must interpret and explain the computer output. /10 Addendum question 6 (b): Computer output is required. You must interpret and explain the computer output. /10 Addendum question 6 (c): Computer output is required. You must interpret and explain the computer output. /10 II 8. Conclusion and Recommendations /5