Charlie is planning to open a Chinese food restaurant “Dragon Express” in Montana. The following table lists all of the activities involved in the opening of the restaurant. Charlie is able to provide his three best estimates for each activity and he wants to know when his restaurant can be open. Use POM-QM to analyze the project and answer the following questions. Activity # Activity name Predecessors Time estimates in weeks (a,m,b) 1 Select location and obtain financing - 2,4,8 2 Rent negotiation and sign paper work 1 1,2,2 3 Cleaning and renovation of the resturant 2 4,6,8 4 Design resutrant menu - 1,1,1 5 Order and recieve equipment and other necessities 2,4 4,8,12 6 Install equipment 3,5 1,1,1 7 Hire employees 6 1,2,2 8 Final examination 7 1,2,3 Based on the result of POM-QM, the expected completion time of the project is (type number only, no text, no decimals) Based on the result of POM-QM, the standard deviation of the project completion time is (type number only, two decimals, no text)
Charlie is planning to open a Chinese food restaurant “Dragon Express” in Montana. The following table lists all of the activities involved in the opening of the restaurant. Charlie is able to provide his three best estimates for each activity and he wants to know when his restaurant can be open. Use POM-QM to analyze the project and answer the following questions. Activity # Activity name Predecessors Time estimates in weeks (a,m,b) 1 Select location and obtain financing - 2,4,8 2 Rent negotiation and sign paper work 1 1,2,2 3 Cleaning and renovation of the resturant 2 4,6,8 4 Design resutrant menu - 1,1,1 5 Order and recieve equipment and other necessities 2,4 4,8,12 6 Install equipment 3,5 1,1,1 7 Hire employees 6 1,2,2 8 Final examination 7 1,2,3 Based on the result of POM-QM, the expected completion time of the project is (type number only, no text, no decimals) Based on the result of POM-QM, the standard deviation of the project completion time is (type number only, two decimals, no text)
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Charlie is planning to open a Chinese food restaurant “Dragon Express” in Montana. The following table lists all of the activities involved in the opening of the restaurant. Charlie is able to provide his three best estimates for each activity and he wants to know when his restaurant can be open. Use POM-QM to analyze the project and answer the following questions.
| Activity # | Activity name | Predecessors | Time estimates in weeks (a,m,b) |
| 1 | Select location and obtain financing | - | 2,4,8 |
| 2 | Rent negotiation and sign paper work | 1 | 1,2,2 |
| 3 | Cleaning and renovation of the resturant | 2 | 4,6,8 |
| 4 | Design resutrant menu | - | 1,1,1 |
| 5 | Order and recieve equipment and other necessities | 2,4 | 4,8,12 |
| 6 | Install equipment | 3,5 | 1,1,1 |
| 7 | Hire employees | 6 | 1,2,2 |
| 8 | Final examination | 7 | 1,2,3 |
Based on the result of POM-QM, the expected completion time of the project is (type number only, no text, no decimals)
Based on the result of POM-QM, the standard deviation of the project completion time is (type number only, two decimals, no text)
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Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
The probability that the project will be completed in 16 weeks or less is
1.74%
4.09%
45.91%
95.91%
The probability that the project will be completed in 20 weeks or less is
21.90%
28.1%
58%
71.90%
Solution
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