11. Building a backyard swimming pool consists of nine major activities. The activities and their immediate predecessors are shown. Develop the project network. For question number 12, you need to refer to question number 11. Also the first picture is for #11 and second picture(image) is for #12 12. Assume that the activity time estimates (in days) for the swimming pool construction project in Problem 11 are as follows: a. What are the critical activities? b. What is the expected time to complete the project? c. Based only on the critical path, what is the estimated probability that the project can be completed in 25 or fewer days?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
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11. Building a backyard swimming pool consists of nine major activities. The activities and their immediate predecessors are shown. Develop the project network.
For question number 12, you need to refer to question number 11. Also the first picture is for #11 and second picture(image) is for #12
12. Assume that the activity time estimates (in days) for the swimming pool construction project in Problem 11 are as follows:
a. What are the critical activities?
b. What is the expected time to complete the project?
c. Based only on the critical path, what is the estimated probability that the project can be completed in 25 or fewer days?
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