Next, you w would like e to determine the variance of the project. Table 6 has the activity schedule for the seven activities. This schedule is determined using a network diagram; please refer to Figure 7.6 in the book. (g) Using the IF function, write a formula in J38 to display "Yes" if the activity is critical and display "No" if the activity is not critical. Copy the formula to cells J39:J44. To calculate the entire project's variance, we simply add variance for activities on the critical path. (h) Using the SUMIF function, write a formula in cell F46 to compute the proj e project's variance. (i) Project's standard deviation is the is the square root are root of the variance. Write The earliest finish time for the last activity is the Project's duration. Write a formula in cell F50 to compute the project's duration. (Hint: You have to only refer to the cell range) We would like to use the variance information to compute the probability that the entire project will be complete in 35 days. formula in cell F48 to compute the project's standard deviation. In Excel, the probability can be computed using NORM.DIST function. NORM.DIST function takes four arguments, viz, X, mean, standard_dev (standard deviation), and cumulative (whether the probability is cumulative or not). X is the target days to complete (cell F52), the mean is the project's expected duration (cell F50), the standard_dev is the standard deviation (F48), and the cumulative probability is TRUE. To see how to apply NORM.DIST function, you can watch the youtube videos (i) https://www.youtube.com/watch?v=OCJudfW_gHY or (ii) https://www.youtube.com/watch?v=p_KApjpyBHE (k) Using NORM.DIST function, write a formula in cell F54 to compute the probability that the entire project will be complete in 35 days.
Next, you w would like e to determine the variance of the project. Table 6 has the activity schedule for the seven activities. This schedule is determined using a network diagram; please refer to Figure 7.6 in the book. (g) Using the IF function, write a formula in J38 to display "Yes" if the activity is critical and display "No" if the activity is not critical. Copy the formula to cells J39:J44. To calculate the entire project's variance, we simply add variance for activities on the critical path. (h) Using the SUMIF function, write a formula in cell F46 to compute the proj e project's variance. (i) Project's standard deviation is the is the square root are root of the variance. Write The earliest finish time for the last activity is the Project's duration. Write a formula in cell F50 to compute the project's duration. (Hint: You have to only refer to the cell range) We would like to use the variance information to compute the probability that the entire project will be complete in 35 days. formula in cell F48 to compute the project's standard deviation. In Excel, the probability can be computed using NORM.DIST function. NORM.DIST function takes four arguments, viz, X, mean, standard_dev (standard deviation), and cumulative (whether the probability is cumulative or not). X is the target days to complete (cell F52), the mean is the project's expected duration (cell F50), the standard_dev is the standard deviation (F48), and the cumulative probability is TRUE. To see how to apply NORM.DIST function, you can watch the youtube videos (i) https://www.youtube.com/watch?v=OCJudfW_gHY or (ii) https://www.youtube.com/watch?v=p_KApjpyBHE (k) Using NORM.DIST function, write a formula in cell F54 to compute the probability that the entire project will be complete in 35 days.
Information Technology Project Management
9th Edition
ISBN:9781337101356
Author:Kathy Schwalbe
Publisher:Kathy Schwalbe
Chapter6: Project Schedule Management
Section: Chapter Questions
Problem 9QQ
Related questions
Question
Write a formula in cell e54 to compute what it's asking for
instructions attached to screenshots bellow
thanks
Transcribed Image Text:Next, you would like to determine the variance of the project. Table 6 has the activity schedule for the seven activities.
This schedule is determined using a network diagram; please refer to Figure 7.6 in the book.
(g) Using the IF function, write a formula in J38 to display "Yes" if the activity is critical and display "No" if the activity is not critical. Copy the formula to cells J39:J44.
To calculate the entire project's variance, we simply add variance for activities on the critical path.
(h) Using the SUMIF function, write a formula in cell F46 to compute the project's variance.
(i) Project's standard deviation is the square root of the variance. Write a formula in cell F48 to compute the project's standard deviation.
Deuts
Mga
(j) The earliest finish time for the last activity is the Project's duration. Write a formula in cell F50 to compute the project's duration. (Hint: You have to only refer to the cell range)
We would like to use the variance information to compute the probability that the entire project will be complete in 35 days.
day one
In Excel, the probability can be computed using NORM.DIST function. NORM.DIST function takes four arguments, viz, X, mean, standard_dev (standard deviation), and cumulative (whether
the probability is cumulative or not). X is the target days to complete (cell F52), the mean is the project's expected duration (cell F50), the standard_dev is the standard deviation (F48), and
the cumulative probability is TRUE.
To see how to apply NORM.DIST function, you can watch the youtube videos (i) https://www.youtube.com/watch?v=OCJudfW_gHY or (ii) https://www.youtube.com/watch?v=p_KApjpyBHE
33 (k) Using NORM.DIST function, write a formula in cell F54 to compute the probability that the entire project will be complete in 35 days.
Transcribed Image Text:36
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57
CO
A B
C
D
A
B
C
D
E
F
G
Activity Earliest Start Earliest Finish Latest Start
ES
0
0
=
7
=
7
16
16.5
25.8
Project's Variance
FF
7
9.3
16
16.5
25.8
25
33.6
Project's standard deviation
Project's Expected Duration
Target days to complete
F
Probability that the project will be
complete in 35 days.
LS
0
6.7
7
7.8
16
17.3
25.8
1.93
1.3892
33.6
35
G
Latest
Finish
LF
7
16
16
17.3
25.8
25.8
33.6
H
Slack
(LS - ES)
0
9.3
0
0.8
0
0.8
0
Variance
(rounded to 2
decimal places)
0.1100
1.7800
0.4400
1.3600
0.6900
0.2500
0.6900
Is the Activity
Critical?
Yes
No
Yes
No
Yes
No
Yes
K
A
B
L
C
D
E
F
Activity Earliest Start Earliest Finish Latest Start
ES
0
0
7
7
M
16
16.5
25.8
EF
7
9.3
N
Table 6: Activity schedule for the seven activities of the project
Latest
Finish
Variance
(rounded to 2
decimal places)
16
16.5
25.8
25
33.6
LS
0
6.7
7
7.8
16
17.3
25.8
Project's Variance
16
16
17.3
LF (LS-ES)
0
7
25.8
25.8
33.6
O
Sample Answer
Project's standard deviation
Project's Expected Duration
Target days to complete
Slack
Probability that the project will be
complete in 35 days
0
0.8
0
0.8
0
P
0.1100
1.7800
0.4400
1.3600
0.6900
0.2500
0.6900
1.93
1.3892
33.6
35
84.32%
Is the Activity
Critical?
Yes
No
www
Yes
No
Yes
No
Yes
Q
R
S
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