Consider the following precedence chart: ACTIVITY PRECEDING OPTIMISTICMOST PESSIMISTIC ACTIVITIES TIME (days) LIKELY TIME (days) TIME kdays) 10 15 15 B 10 12 14 10 10 10 B.C 12 16 JE 14. 12 IF IA 14. 18 12 IG D.E 10 12 14 12 12 The path duration for AFl is 32 O 34 30 O 26 O O O 0
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- Management Firm is a consulting company that specializes in the development of decision support systems. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 2 8 12 B Web scraping 4 9 11 C Testing A, B 1 1 1 (A) Based solely on the critical path, estimate the probability that the project will be complete within 11 weeks. (Round your answer to four decimal places.) (b) Using all paths through the project network, estimate the probability that the project will be complete within 11 weeks. (Round your answer to four decimal places.)Follow up to previous question: 3) A company decides to plan a project, with activities, precedences and random duration statistics given in the following table: Activity Immediate Predecessors Duration Minimum (weeks) Duration Mode (weeks) Duration Maximum (weeks) A none 2 5 9 B A 1 6 8 C A 3 5 12 D B 2 4 12 E B, C 4 6 8 F B 6 7 8 G D, E 1 2 6 H F, G 4 6 16 Questions: 1) What method should be used? Compute the mean and variances for each activity and add them to the table above. 2)Draw the project network and label the arcs with the activity name. 3) Assuming that the critical path is AàBàP1àEàGàH, compute the probability that this path duration is between 28 weeks and 32 weeks. 4) Assuming that the critical path is AàBàP1àEàGàH, compute the number of weeks within which the project will be completed with probability 0.95.Management Firm is a consulting company that specializes in the development of decision support systems. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 2 8 12 B Web scraping 4 9 11 C Testing A, B 1 1 1 (b) Using all paths through the project network, estimate the probability that the project will be complete within 11 weeks. (Round your answer to four decimal places.)
- The R&D department of Labuan Authority Development Unit is planning to bid on a large project for the development of a new communication system for Labuan Convention Centre. The accompanying table shows the activities, times and sequences required for the project planning and monitoring. Based on the table, identify the critical path and the expected project completion time. Is there any probability of completing this project within 20 months? How about 18 months? ctivities Immediate Predecessor Times (Months) Optimistic Most Likely Pessimistic A -- 3 5 8 B -- 2 4 5 C A 5 4 6 D A 2 5 9 E B 4 6 10 F C,D 3 6 8 G D,E 5 7 12 H F,G 2 4 7Using PERT, Adam Munson was a ble to determinethat the expected project completion time for the construction ofa pleasure yacht is 21 months, and the project va riance is 4.a) What is the probability that the project will be completed in17 months?b) What is the probability that the project will be completed in20 months?c) What is the probability that the project will be completed in23 months?d) What is the probability that the project will be completed in25 months?e) What is the due date that yields a 95% chance of completion?Following are the activities of a project: Activity time in weeks Immediate Most Most MostActivity Precedence Optimistic Likely PessimisticA None 4 7 13B A 6 9 11C A 5 7 09D B 3 5 07E C 7 8 10F D 2 3 05G E 6 7 08H F&G…
- Is forecasting important in a planning of a project? why? why not?A recent IBM research of 585 mobile application developers and managers revealed that just one-third of projects met their budget, schedule, and objectives. What are the risks, therefore, for companies like FIMC that rush to market with innovative mobile applications?Scope creep and feature creep are two unfavorable outcomes that may result from this. To make the distinction between the two ideas evident, explain them. What is the primary reason behind these two issues? What happens in this project's worst-case scenario if these two unfavorable circumstances arise?
- Manager Cafe "Blue Sky" is considering investing 2 (two) projects. Project X is an investment of $ 75,000 to replace a working but outdated cooling equipment. Project Y is a $ 150,000 investment to expand the dining facilities. Relevant cash flow data for the two projects over the expected 2 years are as follows: Project X Year 1 Year 2 Probability Cash Flow Probability Cash Flow 0.16 $0 0.08 $0 0.66 $50000 0.82 $50000 0.18 $100000 0.10 $100000 Project Y Year 1 Year 2 Probability Cash Flow Probability Cash Flow 0.50 $0 0.13 $0 0.50 $200000 0.74 $100000 0.13 $200000 Calculate: Expected value, standard deviation, and coefficient of variation for cash flows from each project. Compute: Risk-adjusted NPV for each project using a cost of capital of 15% for riskier projects, and 12% cost of capital for less risky projects. Which project is more…The estimated times and immediate predecessors for the activities in a project at Howard Umrah's retinal scanning company are given in the following table. Assume that the activity times are independent. Passenger miles flown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for the past 12 weeks: Week 1 2 3 4 5 6 7 8 9 10 11 12 Actual Passenger Miles (in thousands) 18 21 20 23 20 18 22 20 23 22 13 23 Part 2 a) Assuming an initial forecast for week 1 of 18,000 miles, use exponential smoothing to compute miles for weeks 2 through 12. Use α = 0.25 (round your…I want answer with explanation... I'll upvote you... Only typed answer I want... The following table of probabilistic time estimates (in weeks) and activity predecessors are provided for a project. Activity optimistic time most likely time pessimistic time Activity Predecessor A 1 4 7 -- B 2 6 7 -- C 3 3 6 B D 6 13 14 A E 3 6 12 A, C F 6 8 16 B G 1 5 6 E, F Table 1 Reference: Ref 1 Using Table 1, the probability that the project could be completed in 23 weeks or less is approximately A. 0.94 B. 0.87 C. 0.91 D. 0.89