Refer to the Table 1 and do the following:

1.Calculate the Expected activity time, 2.Develop the Network diagram using the Expected activity time and use PERT Analysis to know the mean and Sd of the project. 3.Based on these estimates and the resultant expected project duration of 44 weeks. The executive committee wants to know what is the probability of completing the project before a scheduled time of 46 weeks? 4.What is the probability that the project lasts more than 46 weeks? 5.What would be the completion time under which for the project has 85% probability of completing? 6.How do you measure project risk exposure? Explain and propose ways to reduce the project risk exposure. (Maximum 500 words)

Table 1: All O, ML,P are in Weeks. ActivityDescriptionOptimistic DurationMost Likely DurationPessimistic DurationImmediate Predecessor ASet up the project acquisition team123 BWrite down the software requirements123A CDevelop a contractor evaluation grid that will be used to evaluate proposals0.511.5B DIdentify and select potential contractors0.511.5A EDevelop and send out a request for proposal to potential contractors345B,D FAudit candidate contractors, select one contractor, negotiate and sign an agreement123C,E GPrepare the definition of functional specifications357F HDevelop a software testing plan123G ISoftware customization phase I101214G JPurchase and install the hardware123G KTest the first release0.511.5H,I,J LDevelop a training plan for key users0.511.5K MSoftware customization phase II468K NTest the second release0.511.5M OTrain Key users123L,N PSoftware customization phase II1.534.5N QTest the final release123P RSoftware deployment and project sign-off246Q

Part 4-Outcomes -1 markPage Number Simple Excel model with description Project Duration, mean of the project, Sd of the Project, Probability of before and more than 46 weeks The project has 85% probability of completing Project risk exposure discussion