Please help me solve the followingA contractor requests the executionof a project. The activities andresource estimation are summarizedin the following table. The duration indays.Determine:A) Probability of completing the project at the end of 115daysB) The probability of completing the project if you aregranted 15 daysAdditionalActivityAB8CDEFGHIJKPrecedence to Tmtp26 28 3918 20 343 4 1022 24336 8 1410 12 2016 20 328 10 253 4 1028 30 458 10 22BAAC,DEEF.GF.G.HI,J

The Program Evaluation and Review Technique is known as PERT. It is a tool for project management…

Answered: Please help me solve the following A…

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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Management Firm is a consulting company that specializes in the development of decision support systems. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 2 8 12 B Web scraping 4 9 11 C Testing A, B 1 1 1 (A) Based solely on the critical path, estimate the probability that the project will be complete within 11 weeks. (Round your answer to four decimal places.) (b) Using all paths through the project network, estimate the probability that the project will be complete within 11 weeks. (Round your answer to four decimal places.)
Gabrielle Kramer, owner of Pet Paradise, is opening a newstore in Columbus, Ohio. Her major concern is the hiringof a manager and several associates who are animal lovers.She also has to coordinate the renovation of a building thatwas previously owned by a chic clothing store. Kramer hasgathered the data shown in Table 7.14. a. How long is the project expected to take?b. Suppose that Kramer has a personal goal of completingthe project in 14 weeks. What is the probability that it willhappen this quickly?
11. Using PERT, Adam Munson was able to determine that the expected project completion time for the construction of a pleasure yacht is 24 months, and the project variance is 4. Part 2 a) The probability that the project will be completed in 20 months = ______ (round your response to four decimal places)
Management Firm is a consulting company that specializes in the development of decision support systems. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 2 8 12 B Web scraping 4 9 11 C Testing A, B 1 1 1 (b) Using all paths through the project network, estimate the probability that the project will be complete within 11 weeks. (Round your answer to four decimal places.)
1. There are many Risks in construction, ignoring same shall be a financial disaster for Contractors. Give an example of the following risks that occur in the project and briefly discuss each. a. Technical Risk b. Logistical Risk c. Construction Risk d. Financial Risk e. Political Risk
a) Explain with examples the differences between the following pairs of terminologies in project risk management:i.Proximity and Dormancy of a Riskii.Stakeholder Risk Threshold and Toleranceiii. iv.Variability Risk and Ambiguity RiskQualitative Risk Analysis and Quantitative Risk Analysis Risk Review and Risk Audit.b) During the execution of a project, a risk is identified by a team member. This newly identified risk is currently not in the risk register. As a project manager, list and briefly explain the steps you will take to manage this risk.c) As a project manager, you will be required to implement risk response plans for your projects. List and explain any five (5) typical outputs of this process.
Coleman Rich Control Devices, I nc., producescustom-built relay devices for auto makers. The most recent projectundertaken by Rich requires 14 different activities. Rich's managerswould like to determine the total project completion time(in days) and those activities that lie along the critical path. Theappropriate data are shown in the following table.a) What is the probability of being done in 53 days?b) What date results in a 99% probability of completion?
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
1.15 Given the following financing project being considered by a venture firm, find the probability of completing the path with the longest expected duration by 17 weeks. By 24 weeks. By what date is management 90 percent sure that this path will be completed? refer to first pic If the venture firm can complete the project for the customer within 18 weeks, it will receive a bonus of $10,000. But if the project delays beyond 22 weeks, it must pay a penalty of $5,000 due to lost opportunity.  If the firm can choose whether or not to bid on this project, what should its decision be if the project is only a breakeven one normally? Figure 8.15a shows the network. refer to second pic
The PMBOK categorises risks into internal and external factors. Anne found that her working relationship with Mr Richard Cramer was progressively deterioration as his micro management of the project was taking a toll on the project and staff morale. As a result, Anne snd some of the project team members wanted to absolve themselves of the project. Had this transpired, it would have posed a risk on the successful delivery of the project. Define the concept of the situation above would have created, illustrate and discuss the cycle process through which the concept could be managed
you decide to estimate duration and standard deviation of a project using PERT method. the project has 3 steps the following are the optimistic, most likely and pessimistic durations in weeks:step 1: 2,5,10Step 2: 1,3,13Step3: 7,8,11,what is the estimated duration and standard deviation of the project duration?Estimated Duration =16 standard Deviation =4.9Estimated Duration =18 standard Deviation =4.9Estimated Duration =18 standard Deviation =2.49Estimated Duration =16 standard Deviation =24
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.

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