DEFGHActivityAB100PredecessorABBАCrashing - ExampleCrashDuration6AC.EC.D.E.F2465516NormalDuration7354125424a) Use the heuristic procedure to determine the crashschedule.150100NormalCost1001002550b) Given that the indirect project cost is 20TL per day,obtain the cost vs. duration curve.10050CrashCost1701505075180200136200

Find the network diagram below: Duration:

Answered: G H Activity A BCDEFG Normal…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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c. What is the expected project completion time? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Project completion time d. What is the probability of completing this project within 16 days? (Use Excel's NORMSDIST() function to find the correct probability for your computed Z-value. Do not round intermediate calculations. Round "2" value to 2 decimal places and final answer to 4 decimal places.) Probability 10 00 days 09994
The following is a table of activities associated with a project at Rafay Ishfaq's software firm in Chicago, their durations, what activities each must precede and the crash cost to reduce duration per week Activity Duration (weeks) Precedes Crash Cost/Week A (start) B C E F (end) 3 2 4 1 4 Activity B, C E F F Suppose that Ratay is only given 9 weeks (instead of 11) to complete the project. By how many weeks should each activity be crashed in order to meet the deadline? Assume that you can crash an activity down to D weeks duration A B C $380 $130 $240 $150 $420 Each Activity Should be Reduced BY (weeks) week(s) week(s) week(s)
Create a risk matrix for this project:Event Cost ($000) ProbabilityEquipment breakdown 40 .20Vendor is late with key segment 200 .60Subcontractor has labor issues 140 .30Weather problems 15 UnknownFunding delays 50 .40 to .60Testing delays 20 .40Explain your reasoning for your placement of the events Weather problems and Funding delays.
 Justify as to how the management of the positive risk will influence theachievement of project objectivesc) Explain why it is important for a risk management process to cover both threat andopportunity. Make sure that you justify your reasons.Question twelveA firm has developed a new product X. They can either test the market or abandon the project. The details are set out below;Testing the market cost 50,000FCFA, while the likely outcomes are favourable with a probability of 0.7 or unfavourable (failure) with a probability of 0.3. If favourable they could either abandon or produce it. The demand, probability and loss/profit for the product when produced are anticipated and presented in the table below;DemandProbabilityProfit/lossLow 0.25- 100,000Medium 0.6150,000High0.15450,000If the test market indicates failure, the project would be abandoned. Abandonment at any stage results in a gain of 30,000FCFA for the special machinery used. a) Draw the decision tree showing the nodes and…
using examples, distinguisg between: 1. Direct aand indirect project costs. 2. Recurring and nonrecurring project costs. 3. Fixed and Variable project costs. 4. Normal and expedited project costs.
7. Contract requirements state that a project must be completed within 180 working days, or it will incur penalties for late completion. Analysis of the activity network reveals an expected project completion time of 145 working days with a project variance of 400. What is the probability that the project will be completed before the late-payment deadline? (select the closest answer) Select one: a. about 4% b. over 99% c. about 80% d. about 46% e. about 96%
The expected number of days to completion for a different project is E(x) = 3.32 The variance of days to completion is var(x) = 1.22 The project cost involves A fixed cost (in thousands of dollars) of FC = $83.783 A variable cost for each day taken to complete the project ($000) VC = $9.774 15 The variance of project cost is ________. a 116.548 b 113.153 c 109.858 d 106.658
The expected number of days to completion for a different project is E(x) = 3.32 The variance of days to completion is var(x) = 1.22 The project cost involves A fixed cost (in thousands of dollars) of FC = $83.783 A variable cost for each day taken to complete the project ($000) VC = $9.774 14 The expected value of the project cost is $_______ thousand. a 109.364 b 112.746 c 116.233 d 119.828
Create a risk matrix in the style of Figure 17.13 for this project. Use a vertical scale of $0 to $80.Which event should the project manager be most concerned about?Event Probability Cost ($000)1 .25 152 .35 253 .20 554 .80 105 .10 776 .40 557 .60 50
b) As a Project Engineer, cost control is one of the areas that is pertinent to project budget. When project cost is over-run against project budget, what will be the challenges as an engineer that you will be to be concerned? Please list down 3 concerns and elaborate on your answers. (CO1, C4)
The following information relates to a project (task times are in weeks). Use the information to solve for the critical path and then to determine the probability that the project could be completed within 36 weeks. Task A B C D E F Preceding Tasks to 4 4 2 None A B D, E tm 6 7 7 8 13 9 8 0 W CON 6 tp 8 10 12 18 15 10 Click the icon to view the table of standard normal probabilities. The probability that the project is completed within 36 weeks is. (Enter your response rounded to four decimal places.)
Using your results from Problem 6,(a) Calculate the probability that the project will be completedin 38 weeks.(b) Calculate the probability that the project will be completedin 42 weeks

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