Project Time Management Exercise (Pairing Option Available upon request) Question 1 PERT The Denver Iron amp; Steel Company is expanding its...

Question 1 PERTThe Denver Iron & Steel Company is expanding its operations to include a new drive‐in weighstation. The weigh station will be a heated/air‐conditioned building with a large floor and smalloffice. The large room will have the scale, a 15‐foot counter, and several display cases for itsequipment.Before erection of the building, the project manager evaluated the project using PERT analysis.The activities with their corresponding times were recorded in Table 1.# Activity Optimistic Most likely Pessimistic Preceding Tasks1 Lay Foundation 8 10 132 Dig hole for scale 5 6 8 13 Insert scale bases 13 15 21 24 Erect frame 10 12 14 35 Complete building 11 20 30 46 Insert scales 4 5 8 57 Insert display cases 2 3 4 68 Put in office equipment 4 6 10 79 Finishing touches 2 3 4 810 Request inspection 1 2 3 511 Complete inspection 2 5 10 10Using PERT analysis, find the critical path, the slack times, and the expected completion time. Solve the problem manually and you may use MS‐Project to verify you manual solutionQuestion 2. CrashingConsider the following network for conducting a two‐week (10 working days) computer trainingclass: Note that the number inside parenthesis represents the duration of the task1234 5A(7) B(3)C(6) D(3)E(2)(a) Construct a schedule showing:ESs for all activities;LSs for all activities;Slack for all activities;Critical path(b) Given the following additional informationActivity Crash time (days) Crashed Cost Normal Time (Days) Normal CostA 4 $800 7 $500B 2 $350 3 $200C 4 $900 6 $500D 1 $500 3 $200E 1 $550 2 $3001. Find the crash cost per day2. Which activities should be cashed to meet a project deadline of 10 days with a minimumcost? Assume partial crashing3. Find the new costQuestion 3. Critical Chain SchedulingConsider the following network diagram informationTask Predecessor Duration (weeks)A 3B A 4C A 3D B 1E C, D 2(a) Identify the critical path and the length(b) Suppose that the task B and task C are performed by the same resource (only one unit)and the task B is performed first than the task C – this creates a new precedencerelationship between B and C. Then identify the critical path again here – This newcritical path may be called a critical chain if we allocate very aggressive task duration forall other tasks.(c) Consider the new critical path obtained from part (b) as a critical chain. Then, draw thenetwork diagram to show the critical chain with the project buffer and the feedingbuffer(s) – you do not need to describe the duration of the buffers.