*Choose the correct answer.2. The variance for the activity where To = 4, Tm(a) 0.5(b) 5(c) 25(d)3. For an activity A, determine the slopeActivityNormal(a) 600(d) 350ATime8Cost8000Time4=6 and Tp = 7 is........0.25CrashCost9400(b) 800(c) 500

In project management, the critical path refers to the sequence of activities that determines the…

Answered: - The variance for the activity where…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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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.)
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.)
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?
9. A project has the following activities, with specified precedents, expected durations (in days), and crash cost/day. Each activity can be crashed to a minimum duration of 1 day. (This is the same network as a previous problem.) What is the minimum total cost to shorten the project by 2 days? Round your answers to 2 decimals. Activity Precedent Duration Crash cost/day A - 3 $350 B A 3.8 $250 C A 6 $400 D B 6 $150 E B 4.1 $200 F C 4 $275 G D 6.2 $500 H E 8 $300 Answer:
Gabrielle Kramer, owner of Pet Paradise, is opening a newstore in Columbus, Ohio. Her major concern is the hiringof a manager and several associates who are animal lovers.She also has to coordinate the renovation of a building thatwas previously owned by a chic clothing store. Kramer hasgathered the data shown in Table 7.14. a. How long is the project expected to take?b. Suppose that Kramer has a personal goal of completingthe project in 14 weeks. What is the probability that it willhappen this quickly?
You are given the following data for an activity: ES = 10 EF = 15 LS = 16 Which of the following can you determine from this data? A. The activity's float and duration B. Only the activity float C. Only the activity duration D. Neither the activity's float nor its duration
11. Using PERT, Adam Munson was able to determine that the expected project completion time for the construction of a pleasure yacht is 24 months, and the project variance is 4. Part 2 a) The probability that the project will be completed in 20 months = ______ (round your response to four decimal places)
Project Management - Risk Management 1. Risk management is a critical portion of project management. However, is it possible to cripple the project by being too risk wary? 2. Situation - Project managers must realize that they must manage risks and issues in a timely and effective manner. However, many project teams do not practice effective and continuous risk management throughout the project life cycle, preferring to wait until the risk becomes realized, and becomes an issue, before taking any action. Project manager must identify the project risk and review some tools and best practices that make project jobs more effective. Does above situation has a valid point – why or why not? Do you think above situation only applies to large scope projects, or does it also apply to smaller ones?
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.
Kimpel Products makes pizza ovens for com-mercial use. James Kimpel, CEO, is contemplating produc-ing smaller ovens for use in high school and college kitchens.The activities necessary to build an experimental model andrelated data are given in the following table: a) What is the project completion date?b) Crash this project to 10 weeks at the least cost.c) Crash this project to 7 weeks (which is the maximum it canbe crashed) at the least cost.
4a) Total quality management is a top-down program True/ False 4b) The qualifications of a competent project manager are: technical expertise, related project experience, business capability, leadership ability, people skills and appropriate educational degree. True/ False 4c) A good method to ensure client satisfaction is to develop criteria and a related measurement program and periodic report that show the contractor's performance against the criteria. True/ False 4d) Some of the elements for an effective team-building program are: project commitment, cost and schedule consciousness, and working togetherness True/ False Make sure you solve all question, I need only answers. If you are going to solve please left this question. I need all answers.... **
Widgetco is making a prototype of a new product. The product consists of two subassemblies. Before building either subassembly, the firm must purchase raw materials and train workers. Before the subassemblies can be combined, subassembly 2 must be inspected. The following table describes the project: Activity ABCDEFG DescriptionTrain workers Purchase materials Make subassembly 1 Make subassembly 2 Inspect subassembly 2 Combine subassemblies Subassembly 2 safety report Requires Duration (Days) 69 A,B 8 A,B 7 D 10 C, E 12 E 6 How quickly can Widgetco complete this project? (a) Define decision variables.(b) Write a suitable LP problem formulation.

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- The variance for the activity where To = 4, Tm (c) 25 (a) 0.5 (b) 5 For an activity A, determine the slope Activity Normal (a) 600 (Y 250 A Time 8 = 6 and Tp = 7_is....... (d) 0.25 Cost Time 8000 Crash Cost 9400 (b) 800 (c) 500