EBK OPERATIONS MANAGEMENT
14th Edition
ISBN: 9781260718447
Author: Stevenson
Publisher: MCG COURSE
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 17, Problem 9DRQ
Why might a probabilistic estimate of a project’s completion time based solely on the variance of the critical path be misleading? Under what circumstances would it be acceptable?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Why might a probabilistic estimate of a project’s completion time based solely on the variance of the critical path be misleading? Under what circumstances would it be acceptable?
A project has 7 activities P, Q, R, S, T, U, and V. Three time estimates (optimistic, most-likely, pessimistic) are used for each activity.
Write down your answers to all parts of the question in the box given below. Give your answer to 3 decimal places. (Note (a) has of 2 parts and (b) has of 3 parts)
For activity Q, these time estimates are as follows: optimistic time = 9, most-likely time = 14, pessimistic time = 20. Write down
the average activity time for Q
the variance of activity time for Q.
The critical path of this project has a mean project time of 44 days and a standard deviation of 5 days. Assume project completion time is normally distributed.
Find the probability that the project will be completed in 47 days.
Find the probability that the project will take more than 40 days.
We want to set a deadline for this project completion. If the probability of meeting this set deadline is 0.88, what will be the deadline for this project.
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.
Chapter 17 Solutions
EBK OPERATIONS MANAGEMENT
Ch. 17.3 - Will the AI technology render project managers...Ch. 17.3 - Prob. 1.2RQCh. 17 - A project manager may need two skill setsthose of...Ch. 17 - Explain the term project champion and list some...Ch. 17 - List the steps in risk management.Ch. 17 - Give some examples of ethical issues that may...Ch. 17 - What are the key advantages of using project...Ch. 17 - What is a work breakdown structure, and how is it...Ch. 17 - Identify the term being described for each of the...Ch. 17 - List the main advantages of PERT. List the main...
Ch. 17 - Why might a probabilistic estimate of a projects...Ch. 17 - Define each of these terms, and indicate how each...Ch. 17 - Why might a person wish to be involved with a...Ch. 17 - Prob. 12DRQCh. 17 - What are some aspects of the project managers job...Ch. 17 - What is the main benefit of a project organization...Ch. 17 - What trade-offs are associated with time and cost...Ch. 17 - Who needs to be involved in assessing the cost of...Ch. 17 - Prob. 3TSCh. 17 - Project management techniques have been used...Ch. 17 - Give three examples of unethical conduct involving...Ch. 17 - For each of the following network diagrams,...Ch. 17 - Chris received new word processing software for...Ch. 17 - Prepare a Gantt chart for each of the following in...Ch. 17 - a. Develop a list of activities and their...Ch. 17 - For each of the problems listed, determine the...Ch. 17 - PRINTED BY: 92248ddb24ccbc6@placeholder.10274.edu....Ch. 17 - Three recent college graduates have formed a...Ch. 17 - The new director of special events at a large...Ch. 17 - Prob. 9PCh. 17 - The project described in the following table is...Ch. 17 - The following precedence diagram reflects three...Ch. 17 - A project manager has compiled a list of major...Ch. 17 - Here is a list of activity times for a project as...Ch. 17 - The project manager of a task force planning the...Ch. 17 - PRINTED BY: 92248ddb24ccbc6@placeholder.10274.edu....Ch. 17 - Chucks Custom Boats (CCB) builds luxury yachts to...Ch. 17 - Prob. 17PCh. 17 - Create a risk matrix in the style of Figure 17.13...Ch. 17 - Create a risk matrix for this project: Explain...Ch. 17 - B. Smitty Smith is a project manager for a large...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- Consider the following PERT time estimates: a. Draw a network for this project and determine the critical path based on the most likely times by inspection.b. Assuming that the critical path is the one you identified in part (a), what is the probability that the project will be completed before 28weeks? Before 32 weeks?c. Assuming that the critical path is the one you identified in part (a), how many weeks are required to complete the project with probability .95?arrow_forwardHow can we determine the probability that a project will be completed by a certain date? What assumptions are made in this computation?arrow_forwardGiven the following network and activity time estimates, determine: The expected time and variance for each activity The critical path. This must be based on your calculations of the start and finish times and not by inspection. The expected project completion time, variance and standard deviation The probability that the project will be completed in 20 weeks or lessarrow_forward
- A project has the activity duration and cost information indicated in the table where all times are in weeks. What is the total cost for completing this project in 50 days? Activity Predecessor Normal Time Normal Cost Crash Time Crash Cost A -- 8 $12,000 5 $21,000 B A 12 $20,000 9 $30,000 C A 15 $24,000 10 $60,000 D B 3 $10,000 2 $15,000 E C 9 $17,000 6 $34,000 F E 7 $5,000 6 $6,000 G D 8 $14,000 6 $20,000 H A 12 $22,000 10 $30,000 I H 6 $50,000 5 $55,000 J F, G, I 11 $33,000 9 $50,000arrow_forwardGiven the following network and activity time estimates, determine: The expected time and variance for each activity The critical path. This must be based on your calculations of the start and finish times and not by inspection. The expected project completion time, variance and standard deviationarrow_forwardI also know answer is d, but please explain each and every option why other option are incorrect too. Which of the following statements regarding PERT analysis is true? Each activity has two estimates of its duration. Project variance is the sum of all activity variances. Project standard deviation is the sum of all critical activity standard deviations. Only critical activities contribute to the project variance. none of these is true.arrow_forward
- How do we estimate the likelihood of a project being finished by a certain date? In this calculation, what assumptions are made?arrow_forwardCompute the expected time and variance for each activity. What is the critical path and the expected duration of the project? What is the probability that the project will take longer than 58 days to complete?arrow_forwardDraw the network diagram. Calculate the expected duration and variance of each activity. Calculate the expected duration and variance of the critical path. Calculate the probability that the project will be completed in less than 28 weeks.arrow_forward
- The following precedence diagram reflects three time estimates in weeks for each activity.Determine:a. The expected completion time for each path and its variance.b. The probability that the project will require more than 49 weeks.c. The probability that the project can be completed in 46 weeks or less.arrow_forwardExpected length of a project is 37.16 days and the variance of its length is 6.14 days. What is the probability that the project is completed within 40 days?arrow_forwardThe following information has been computed from a project: Expected total project time = T = 62 weeks Project variance = 81 1- What is the probability that the project will be completed 18 weeks before its expected completion date? 2- Draw Normal Curve & Analysis your solution with conclusionarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Operations ManagementOperations ManagementISBN:9781259667473Author:William J StevensonPublisher:McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi...Operations ManagementISBN:9781259666100Author:F. Robert Jacobs, Richard B ChasePublisher:McGraw-Hill Education
Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage Learning
Production and Operations Analysis, Seventh Editi...Operations ManagementISBN:9781478623069Author:Steven Nahmias, Tava Lennon OlsenPublisher:Waveland Press, Inc.
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Operations Management
Operations Management
ISBN:9781259667473
Author:William J Stevenson
Publisher:McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi...
Operations Management
ISBN:9781259666100
Author:F. Robert Jacobs, Richard B Chase
Publisher:McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Production and Operations Analysis, Seventh Editi...
Operations Management
ISBN:9781478623069
Author:Steven Nahmias, Tava Lennon Olsen
Publisher:Waveland Press, Inc.
Inventory Management | Concepts, Examples and Solved Problems; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=2n9NLZTIlz8;License: Standard YouTube License, CC-BY