Suppose the due date of the project is 18 months and the probability of completing it is 75%, while the deviation from the mean is 1.8 months. What will be the expected time of completion?
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- You are working on a manufacturing project having a budget of PKR 3,600,000 and the expected time of its completion is one year. There is an ideal condition that your budget and work are evenly spread across the duration of the project that is twelve months. At the end of the fourth month, the senior management has called a meeting and invited all the stakeholders to brief about the status of the project. You being the PM of this project are giving the presentation to all the attendees and informed them that the project is on schedule and PKR 1,800,000 has already been spent on the project. Calculate Cost and Schedule Variance What is SPI and CPI of the project? Estimate at completion and Estimated time to complete?A completion time (X) is expected to be 52 weeks, with a variance of 64. What is the probability the project will be completed 16 weeks before its expected completion date? Assume X is normal.The project manager of a task force planning the construction of a domed stadium had hopedto be able to complete construction prior to the start of the next college football season. Afterreviewing construction time estimates, it now appears that a certain amount of crashing will beneeded to ensure project completion before the season opener. Given the following time and costestimates, determine a minimum-cost crashing schedule that will shave five weeks off the projectlength. Note: No activity can be crashed more than two weeks.CRASHING COSTS ($000)Activity Immediate Predecessor Normal Time (weeks) First Week Second WeekA — 12 $15 $20B A 14 10 10C — 10 5 5D C 17 20 21E C 18 16 18F C 12 12 15G D 15 24 24H E 8 — —I F 7 30 —J I 12 25 25K B 9 10 10M G 3 — —N H 11 40 —P H, J 8 20 20End K, M, N, P
- A project has the following risks. 40% chance of schedule delay costing $3,000 20% chance of success of a new methodology saving $4,000 a 50% chance of a legal obligation which costs $3,000 a 50% chance of unexpected savings of $10,000 What is the expected monetary value of this project? $20,000 $8,000 -$1,400 $3,100You complete your PERT calculations for your project and you have determined your expected duration is 57 weeks with a standard deviation of 1.81. You want your project to complete on your end date with a 60% probability. How many weeks before your goal end date do you begin your project?You are working on a manufacturing project having a budget of PKR 3,600,000 and expected time of its completion is one year. There is an ideal condition that your budget and work are evenly spread across the duration of the project that is twelve month. At the end of forth month, the senior management has called a meeting and invited all the stakeholders to brief about the status of the project. You being the PM of this project is giving the presentation to all the attendees and informed that project is on schedule and PKR 1,800,000 have already been spent on the project. Required: Calculate Cost and Schedule Variance What is SPI and CPI of the project? Estimate at completion and Estimated time to complete?
- Limbo Technologies has embarked on another project that has an estimated completion time of 40 weeks and a standard deviation of 5 weeks. It is estimated that the project completion time is normally distributed. i)What is the probability of finishing the project in 38 weeks or less? ii)The due date for the project is set so that there is a 90% chance that it will finish by this date. What is the due duration? ACTIVITY PREDECESSOR NORMAL TIME (WEEKS) CRASH TIME (WEEKS) NORMAL COST ($) CRASH COST ($) A - 4 2 1000 1600 B - 6 3 3000 3500 C A 3 1 2500 3000 D A,B 6 5 1500 1850 E D 4 2 3500 4200 F C 4 3 2250 3000 G D 3 2 1900 2500 H F,G,E 2 1 400 500A project’s budget was originally $100,000. The CPI is 1.2, and the project is already 40% along. Assuming the project variances are typical, how much more money will you need to complete the project? $50,000 $43,000 $150,000 $83,000Contract requirements state that a project must be completed within 180 working days, or it will incur penalties for late completion. Analysis of the activity network reveals an estimated project time of 145 working days with a project variance of 400. What is the probability that the project will be completed before the late-payment deadline?
- You are the project manager of the software installationproject in Table 7.12. You would like to find the minimum-costschedule for your project. There is a $1,000-per-week penaltyfor each week the project is delayed beyond week 25. In addi-tion, your project team determined that indirect project costsare $2,500 per week.a. What would be your target completion week?b. How much would you save in total project costs with yourschedule?The following information has been computed from aproject:Expected total project time = T = 62 weeksProject variance (s2p ) = 81What is the probability that the project will be completed18 weeks before its expected completion date?Two new Internet site projects are proposed to a young start -up company. Project A will cost $250,000 to implement and is expected to have annual net cash flows of $75,000. Project B will cost $150,000 to implement and should generate annual net cash flows of $52,000. The compnay is very concerned about their cash flow. Using the payback period, which project is better, from a cash flow standpoint?