The expected times and variances for the project activities are given below, criticalpath is A-D-F-H. What is the probability of the completing the project in 31 periods?IDABCDEFGHDescriptionPilot productionSelect channels ofdistributionDevelop programTest marketPatentFull productionAd promotionRelease55%77%88%66%PredecessorNoneNoneNoneAADCB,E,F,G6744101632Variance[(b-a)/6]2342251021

The expected time and variances are mainly related to the Critical Path Method. The expected time of…

Answered: The expected times and variances for…

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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Similar questions

How do you manage project problem crises during controlling phase?
Does WBS explain? How can you make a reasonable plan?
How does the Analysis Period differ from Project Live?
briefly explain the difference between the main features of Enlightened planning approach and IRM Risk Management standard (with regards to the concept stage of project lifecycle). Show the understanding of the four frameworks and their inter relevance.
Explain the factors that hinder the success of 5S 1.)Project sponsor is not decision maker 2.) Organizational policies 3.) Lack of experiencce in undertaking cross-functional activities 4.) Lack of top management support 5.) Implementation carried out through orders from the top 6.) Implementation done by task forces 7.) 5S treated as a project 8. )Emphasis on immediate results
d) Risk is defined as the uncertain event or condition that if occurs has a positive or negativeeffect on the project's objective. The project objectives can be classified into three; cost,schedule and performance. There are 5 steps on risk identification process which startfrom identification and end with monitoring.Based on these three project objectives please explain the project risk managementprocess.explain it briefly and include example
Project Cost. 1. Discuss project cost relative to project planning. 2. In which phase is the cost completed in the project life cycle? 3. Explain the Determine Budget process.
Marketing-Related: I am working in Meralco. I need some ideas for Strategic Planning in terms of what can Marketing can deliver for the project. Kindly fillout Gains, Target, Stretch, Aspirational Project: Smart Streetlights Project Background: SSL enables customers and utilities to monitor and control streetlights in real time via a dashboard that provides data on consumption and allows dimming GAINS / TARGET / STRETCH / ASPIRATIONAL 1. 2. 3.
"What are the key differences between the roles of a Project Sponsor and a Project Champion?"
 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.
1. List and explain the phases that mark the life of a project 2. For each project phase identified in 1(a) above, describe at least four (4) projectactivities/processes performed in the phase. 3. With the use of a diagram, show (illustrate) the typical levels of uncertainty or projectrisks associated with each phase and throughout a project. 4. With the use of a diagram, show (illustrate) the typical levels of project staffingrelated to each phase and throughout a project 5. For each project phase identified in 1(a) above, identify and describe at least one (1)major deliverable (output) of the phase. please answer number 4 and 5

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