Question

In: Operations Management

The following represents a project that should be scheduled using CPM:                              IMMEDIATE &nbs

The following represents a project that should be scheduled using CPM:

                             IMMEDIATE                                TIMES (DAYS)

                            PREDECESSORS

ACTIVITY                                                                  a           m         b

A                                   —                                          1           4          7

B                                   —                                          3           5          10

C                                  A 2          5          8

D                                  A                                            4           6          11

E                                   B                                           1            2          3

F                                 C,D 3          5          7

G                                D,E                                         1            2          6

H                                F,G                                         2            5          6

b. What is the critical path?

            A-D-F-H

            B-E-G-H

            A-C-F-H

            A-D-G-H

c. What is the expected project completion time?

Project completion time __________ days

d. What is the probability of completing this project within 22 days?

Probability _________          

Solutions

Expert Solution

EXPECTED TIME = (OPTIMISTIC TIME + (4 * MOST LIKELY TIME) + PESSIMISTIC TIME) / 6

VARIANCE = ((PESSIMISTIC TIME - OPTIMISTIC TIME) / 6)^2


ACTIVITY

EXPECTED TIME

VARIANCE

A

(1 + (4 * 4) + 7) / 6 = 4

((7 - 1) / 6)^2 = 1

B

(3 + (4 * 5) + 10) / 6 = 5.5

((10 - 3) / 6)^2 = 1.3611

C

(2 + (4 * 5) + 8) / 6 = 5

((8 - 2) / 6)^2 = 1

D

(4 + (4 * 6) + 11) / 6 = 6.5

((11 - 4) / 6)^2 = 1.3611

E

(1 + (4 * 2) + 3) / 6 = 2

((3 - 1) / 6)^2 = 0.1111

F

(3 + (4 * 5) + 7) / 6 = 5

((7 - 3) / 6)^2 = 0.4444

G

(1 + (4 * 2) + 6) / 6 = 2.5

((6 - 1) / 6)^2 = 0.6944

H

(2 + (4 * 5) + 6) / 6 = 4.67

((6 - 2) / 6)^2 = 0.4444


CPM


ACTIVITY

DURATION

ES

EF

LS

LF

SLACK

A

4

0

4

0

4

0

B

5.5

0

5.5

5.5

11

5.5

C

5

4

9

5.5

10.5

1.5

D

6.5

4

10.5

4

10.5

0

E

2

5.5

7.5

11

13

5.5

F

5

10.5

15.5

10.5

15.5

0

G

2.5

10.5

13

13

15.5

2.5

H

4.67

15.5

20.17

15.5

20.17

0


FORWARD PASS: ES = MAXIMUM EF OF ALL PREDECESSOR ACTIVITIES; 0 IF NO PREDECESSORS ARE PRESENT. EF = ES + DURATION OF THE ACTIVITY.

BACKWARD PASS: LF = MINIMUM LS OF ALL SUCCESSOR ACTIVITIES; COMPLETION TIME OF THE PROJECT IF NO SUCCESSORS ARE PRESENT. LS = LF - DURATION OF THE ACTIVITY.

SLACK = LF - EF, OR, LS - ES

CRITICAL PATH = PATH WITH THE LONGEST COMBINED DURATION VALUE AND 0 SLACK.

B. CRITICAL PATH = A-D-F-H

C. DURATION OF PROJECT = 20.17


VARIANCE OF CRITICAL PATH = 1 + 1.3611 + 0.4444 + 0.4444 = 3.2499

STANDARD DEVIATION = SQRT(VARIANCE) = SQRT(3.2499) = 1.802748

EXPECTED TIME = 20.17

DUE TIME = 22

Z = (DUE TIME - EXPECTED TIME) / STANDARD DEVIATION OF CRITICAL PATH)

Z = (22 - 20.17) / 1.802748 = 1.02

D. PROBABILITY FOR A Z VALUE OF 1.02 = NORMSDIST(1.02) = 0.8461

A Thumbs Up! would be really helpful for me. If you have any questions, please leave a comment and I will get back to you as soon as possible.


Related Solutions

The following represents a project that should be scheduled using CPM: IMMEDIATE PREDECESSORS TIMES (DAYS) ACTIVITY...
The following represents a project that should be scheduled using CPM: IMMEDIATE PREDECESSORS TIMES (DAYS) ACTIVITY a m b A — 1 4 7 B — 1 3 5 C A 2 5 11 D A 1 8 9 E B 1 2 3 F C,D 1 6 11 G D,E 1 2 3 H F,G 2 3 3 b. What is the critical path? B-E-G-H A-C-F-H A-D-F-H A-D-G-H c. What is the expected project completion time? (Round your answer...
The following activities are part of a project to be scheduled using CPM: ACTIVITY IMMEDIATE PREDECESSOR...
The following activities are part of a project to be scheduled using CPM: ACTIVITY IMMEDIATE PREDECESSOR TIME (WEEKS) A — 7 B A 6 C A 2 D C 4 E B, D 3 F D 4 G E F 6 a. Draw the network (20 points) b. What is the critical path? c. How many weeks will it take to complete the project ? d. Identify the early start, early finish, late start, and late finish for each activity...
The following activities are part of a project to be scheduled using CPM: Activity Immediate Pred...
The following activities are part of a project to be scheduled using CPM: Activity Immediate Pred Weeks A - 6 B A 3 C A 7 D B, C 2 E C 4 F D 3 G E, F 7 Please draw the network. What is the critical path? How many weeks will it take to complete the project? How much slack does each of the activities have? Question A: Drawing the network Questions B,C,D use an excel file
The following table represents a project with four activities. All times are in weeks. Activity Immediate...
The following table represents a project with four activities. All times are in weeks. Activity Immediate Predecessor Optimistic Time Most Likely Time Pessimistic Time A - 4 8 16 B - 7 8 9 C A 6 10 18 D B 5 13 18 A. According to the data in the table. What is the critical path? B. According to the data in the table, what is the minimum expected completion time for the project? C. According to the table...
Provide at least 2 examples of a Project Schedule using Gantt Chart and PERT / CPM.
Provide at least 2 examples of a Project Schedule using Gantt Chart and PERT / CPM.
Consider the following network of a project consisting of 7 activities with a scheduled project duration...
Consider the following network of a project consisting of 7 activities with a scheduled project duration of 36 weeks. Direct cost $12,000 with 36 weeks Indirect cost of $ 150 per week and delay damages of $ 500 per week for project duration beyond 30 weeks, and no incentive plan. the following table of time-cost data. Suppose the project should be completed in 30 weeks, what is the total project cost? Activity Predecessor. Normal Time (weeks) Crash Time (weeks) Normal...
A project has the following total (or net) cash flows.                __________________________________________            &nbs
A project has the following total (or net) cash flows.                __________________________________________               Year          Total (or net) cash flow                _________________________________________ 1 $20,000 2 30,000 3 50,000 4 60,000 _________________________________________ The required rate of return on the project is 15 percent. The initial investment (or initial cost or initial outlay) of the project is $80,000. a) Find the net present value (NPV) of the project. b) Find the profitability index (PI) of the project. c) Calculate the modified internal rate...
A project has the following total (or net) cash flows.                __________________________________________            &nbs
A project has the following total (or net) cash flows.                __________________________________________               Year          Total (or net) cash flow                _________________________________________ 1 $20,000 2 30,000 3 50,000 4 60,000 _________________________________________ The required rate of return on the project is 15 percent. The initial investment (or initial cost or initial outlay) of the project is $80,000. a) Find the net present value (NPV) of the project. b) Find the profitability index (PI) of the project. c) Calculate the modified internal rate...
Given the following project: Act.          Preceding                    Crash Cost    &nbs
Given the following project: Act.          Preceding                    Crash Cost              Maximum Crash               Normal Time                                            Activity                       (in million $)             Time (in months)               (in months) A                     -                                   0                                  0                                  1         B                     A                                 10                                2                                   3                      C                     A                                  5                                 1                                   4                      D                     B                                  6                                 1                                   3                      E                      C                                 7                                  2                                  4                      F                     D, E                                9                                 1                                      3 SLACK TIME = Late Starting Time – Early Starting Time OR Late Finish Time – Early Finish Time To reduce the project time as much as possible given its characteristics, what activity or activities can be crashed?
Complete the following balance sheet using the information:                                &nbs
Complete the following balance sheet using the information:                                     Cash Accounts Receivables Inventory ________ Current Assets _________ Net Fixed Assets $1,000,000 _________ Total $1,300,000 ========= Current Ratio = 3.0 Inventory Turnover = 10.0 Debt Ratio = 30% Accounts Payables                         $100,000 Long-term Debt Total Liabilities Common Equity                                                            ________ Total                                                $1,300,000                                                                    ========= Total Asset Turnover = 0.5 Average Collection Period = 45 days Gross Profit Margin = 30%
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT