QUESTION : $1$ outside the critical path.

d$)$ What is the probability of completing the project in $53$ days? What is the probability of completing this project in $48$

days?

Question $2$

The total budgeted cost $($PV$)$ for each of the $15$ work packages that make up a project is shown in the table below. The

percentage of work actually completed for each work package, as well as the cumulative PV and actual cost $($AC$)$ for each

work package, at a particular review point, are also provided in the table.

a$)$ Compute the schedule variance $($SV$),$ cost variance $($CV$),$ schedule$-$performance index $($SPI$)$ and cost$-$

performance index $($CPI$)$ for this work package.

b$)$ Compute the 'estimate at completion' using two of the three formulae introduced in the subject. Succinctly state

any conditions $($or the rationale$)$ underpinning each of the two formulae used.

c$)$ Identify two practical situations in which each of the above formulae would be preferred?