week) and precedents given below: Activity Optimistic Time A project conducted by the Dock B Shipbuilding Company has its estimated activity times (in A B C D E F G H 6 8 2 Most likely Time 7 10 3 7 5.5 7 6 6 5 5 4 Pessimistic Time 14 12 4 Immediate Predecessor A 8 A 9 B,C 9 B.C 8 D.E 2.5 3 3.5 F (a) Draw a PERT diagram and indicate the project's critical path. How long will it take to complete this project? (b) Can activity B be delayed without delaying the completion of the project? If so, how many days? What is the probability that the project will be completed within 25 weeks Question 2: Pacific Chemical Company (PCC) is considering two mutually exclusive investment projects. The project's expected net cash flows are as follows: Year 0 1 2 3 4 5 Expected Net Cash Flow (S) Project A Project B (46,800) (63,600) (21,600) 20,400 43,200 43,200 43,200 (22,800) 20,400 20,400 20,400 20,400 (note: numbers in brackets are costs) Calculate each project's IRR. Assuming the cost of capital (and also MARR) of the company is 15%, please advice the company's project manager the proper choice. Question 3: What are advantages and disadvantages of PERT networks in project planning and scheduling?