Question

In: Finance

Given the following information, you are to determine the following Project network. Early, late and slack...

Given the following information, you are to determine the following

  • Project network.
  • Early, late and slack activity times.
  • Project duration.
  • Critical path

Task

Predecessor

Duration

A

None

5

B

A

8

C

A

15

D

A

10

E

A

10

F

B

10

G

C, D

12

H

E,

15

I

G, H

7

J

F,G,I

10

K

J

12

Solutions

Expert Solution

Network Diagram -

Earliest Start (ES) = the earliest time when the activity can begin

Earliest Finish (EF) = ES + Activity Duration

Latest Finish (LF) = the latest time by whenthe activity can be finished without changing the project completion duration

Latest Start (LS) = LF - Activity Duration

Slack = LS-ES = LF-EF

Computing using the above gives us the below -

Earliest Earliest Latest Latest
Activity Predecessor Duration Start Time Finish Time Start Time Finish Time Slack
A - 5 0 5 0 5 0
B A 8 5 13 21 29 16
C A 15 5 20 5 20 0
D A 10 5 15 10 20 5
E A 10 5 15 7 17 2
F B 10 13 23 29 39 16
G C, D 12 20 32 20 32 0
H E 15 15 30 17 32 2
I G, H 7 32 39 32 39 0
J F, G, I 10 39 49 39 49 0
K J 12 49 61 49 61 0

Possible Network Paths and their Duration are -

ABFJK --> 45
ACGJK --> 54
ACGIJK --> 61
ADGJK --> 49
ADGIJK --> 56
AEHIJK --> 59

Hence, Project duration is the duration of the longest path = 61

Critical path is the path with longest duration = ACGIJK


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