Week 7 Homework Assignment

Week 7 Homework Assignment

PERT Network Diagram 1 illustrates the ten interrelated activities that comprise a certain project.

PERT Network Diagram 1

The information presented in Table 1 applies to the project activities at a particular point in time during the project.

Table 1

Estimated Completion Time (Weeks)

Activity

Predecessor Activities

Optimistic (a)

Most Probable (m)

Pessimistic (b)

Total Budgeted Cost

Percent of Completion

Actual Cost of Work Completed

Crash Time (Weeks)

Total Crash Cost

A

2

4

6

$21,000

100%

$23,000

2

$27,000

B

A

1

3

5

$31,000

100%

$28,000

2

$40,000

C

B

2

4

6

$27,000

100%

$27,500

3

$34,000

D

C

1

3

5

$9,000

75%

$7,300

1

$16,000

E

B

2

4

8

$12,000

55%

$9,800

3

$20,000

F

C, E

1

3

5

$10,000

10%

$0

2

$17,000

G

D, J

2

3

4

$10,000

0%

$0

2

$17,000

H

1

3

5

$15,000

35%

$5,100

2

$17,500

I

H

2

4

6

$25,000

0%

0%

2

$35,000

J

F, I

1

4

7

$13,000

0%

0%

3

$20,000

Using the information in PERT Network Diagram 1 and Table 1, calculate the expected activity time (t) in weeks for each activity Using the information in PERT Network Diagram 1 and Table 1, calculate the variance for the estimated activity time for each activity.  Using the information in PERT Network Diagram 1 and Table 1, calculate the overall estimated activity time in weeks for each path through the network and identify which path constitutes the critical path. Using the information in PERT Network Diagram 1 and Table 1, calculate the standard deviation for the project. Using the information in PERT Network Diagram 1 and Table 1, calculate the probability of the project critical path activities being completed in less than or equal to 18 weeks. Using the information in PERT Network Diagram 1 and Table 1, calculate the Earliest Start, Earliest Finish, Latest Start and Latest Finish times for each activity. Using the information in PERT Network Diagram 1 and Table 1, calculate the slack time in weeks for each activity. Using the information in PERT Network Diagram 1 and Table 1, calculate the total budgeted costs for week seven of the project based upon using the Earliest Start Date for each activity. Using the information in PERT Network Diagram 1 and Table 1, calculate the total budgeted costs for week eleven of the project based upon using the Latest Start Date for each activity. Using the information in PERT Network Diagram 1 and Table 1, calculate the difference between the total budgeted costs for week seventeen of the project based upon using the Earliest Start Date for each activity and week seventeen of the project based upon using the Latest Start Date for each activity. Using the information in PERT Network Diagram 1 and Table 1, calculate the value of work completed and activity difference for each activity.  Which activity evidences the single largest activity difference (regardless of whether it is a cost overrun or cost underrun) at this particular point in the project? Using the information in PERT Network Diagram 1 and Table 1, calculate the overall cost overrun or cost underrun for the project at this particular point in the project. Using the information in PERT Network Diagram 1 and Table 1, crash the network in order to reduce the estimated project duration to 18 weeks while minimizing the overall crash cost. Which critical path activity would be the most logical choice for the first activity to crash? Which critical path activity would be the most logical choice for the second activity to crash? What is the total estimated cost associated with crashing the network to reduce the estimated project duration to 18 weeks at the lowest possible overall crash cost? After successfully crashing the network to reduce the estimated project duration to 18 weeks, which path(s) through the crashed network constitutes the critical path(s)?