Question
The Advanced Tech Company has a project to design an integrated information data base for a major bank. Data for the project are given
The Advanced Tech Company has a project to design an integrated information data base for a major bank. Data for the project are given in the following table. Indirect project costs amount to $250 per day. The company will incur a $100 per day penalty for each day the project lasts beyond day 20. a. What is the project's duration if only normal times are used? Normal Time Crash Time Crash Cost Activity Normal Cost ($) (days) (days) ($) Immediate Predecessor(s) A 6 800 3 2,000 B 5 1,000 3 1,200 C 5 500 3 1,500 A, B D 3 1,200 2 1,500 B E 5 1,500 2 2,100 C, D F 3 1,300 1 1,400 E G 4 900 3 1,000 E H 5 500 5 500 G The project duration is day(s). (Enter your response as an integer.) b. What is the minimum-cost schedule? With the minimum-cost schedule, the project duration is day(s) (Enter your response as an integer.) c. What is the critical path for the minimum-cost schedule? The critical path for the minimum-cost schedule is Recently, you were assigned to manage a project for your company. You have constructed a network diagram depicting the various activities in the project (shown below to the right). In addition, you have asked your team to estimate the amount of time that they would expect each of the activities to take. Their responses are shown in the following table: Time Estimates (days) Activity Optimistic Most Likely Pessimistic A 5 7 10 B 3 9 11 Start Finish C 5 7 8 D 2 3 6 B E E 3 8 10 a. What is the expected completion time of the project? The expected completion time is days. (Enter your response as an integer.) Q a. What is the expected completion time of the project? The expected completion time is days. (Enter your response as an integer.) b. What is the probability of completing the project in 20 days? Refer to the standard normal table. The probability of completing the project in 20 days is (Enter your response rounded to four decimal places.) c. What is the probability of completing the project in 16 days? The probability of completing the project in 16 days is (Enter your response rounded to four decimal places.)
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