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York University awarded the renovation of the Founder College classrooms project to Song Commercial Designers (SCD). The SCD staff drew the network diagram and
York University awarded the renovation of the Founder College classrooms project to Song Commercial Designers (SCD). The SCD staff drew the network diagram and summarized the project requirements/restrictions in the following table, which shows the particular activities, normal (expected) times, activity variances, normal cost of each activity, crash times, and crash costs. For example, Activity A has a normal time of 5 days and can be crashed down to a minimum of 3 days for an additional cost of $2340 per day on top of the Normal Cost. Note that normal (expected) times and activity variances are already calculated for you from the optimistic, most likely, and pessimistic time estimates, assuming that each activity time follows an independent Beta distribution. Normal Normal Crash Activity Activity time Variances Cost ($) Time Crash Cost ($) (days) (days) per day A 5 0.4444 9600 3 2340 BC 7 1.3611 7200 4 850 6 1.0000 12680 4 1760 D 6 0.6944 10100 4 1940 EF E 4 0.4444 6750 3 1120 F 8 1.7500 24900 5 2150 G 11 9.0000 19500 8 1490 H 5 2.2500 11650 4 1920 J 6 1.0000 12425 4 1905 K 7 1.0000 13520 4 1345 L 6 1.0000 8675 4 785 M 7 4.0000 9745 3 4650 D 6 12 J 12 18 M 6 7 13 6 13 19 19 26 7 19 26 G 0 11 11 3 14 H 14 19 F6 14 5 14 19 L 19 25 C 6 0 06 6 8 6 14 6 20 26 B 5 12 E 12 16 4 15 19 K 16 23 7 8 15 7 19 26 A 5 0 5 16 LEGEND ID ES EF t LS LF a) What is the expected (normal) completion cost and time for the project? b) What is the probability that the project will take 25 to 28 days to complete? c) What project completion time should the project manager set as a goal for her team to be 89.51% confident that the project will be completed within that time frame? Your answer can be in days, and you can provide the result in decimals. Don't round the answer.
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