a) The expected completion time for this project is days (enter your response as a whole number). b) The project variance of completion time is days (enter your response as a whole number). c) The probability that this projectbe can be completed in 17 days or less is (keep two decimal places).

a) The expected completion time for this project is days (enter your response as a whole number). b) The project variance of completion time is days (enter your response as a whole number). c) The probability that this projectbe can be completed in 17 days or less is (keep two decimal places).

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

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

See similar textbooks

Related questions

Q: How does benchmarking help businesses?

A: Companies could utilize benchmarking to compare their performance to both internal as well as…

Q: To what extent does linear programming factor into business evaluations?

A: Linear programming is a powerful mathematical tool that can be used to optimize a wide range of…

Q: Looking at the 5 Project Life Cycle phases, we continue with Phase 2: Planning. The planning phase…

A: In this hypothetical situation, you are the owner of a business that offers interior painting…

Q: Examine supply chain problems NASA is experiencing as a result of changing product features to price…

A: Planning, organizing, and regulating the movement of goods, data, and services from suppliers to…

Q: Examine the systems given below. Which system is more reliable, a or b? c or d? Now calculate the…

A: System Reliability Calculation System (a) All components are arranged in a series with a…

Q: Could you please include a service blueprint?

A: Find the blueprint key below: Front stage - Visible to the customer Backstage - Not visible to the…

Q: Explain the differences between the two fields. How, for instance, are project management and…

A: Software development and project management constitute related areas, yet they are additionally…

Q: In the process of developing an internal control system, what do you consider to be the most crucial…

A: An internal control system is a set of processes, policies, and procedures designed to ensure that…

Q: What does ERP stand for? What are the pros and cons of using such systems as a way to design?

A: ERP stands for Enterprise Resource Planning. ERP systems are integrated software applications that…

Q: What does ERP stand for? What are the pros and cons of using such systems as a way to design?

A: ANSWER : ERP stands for Enterprise Resource Planning. ERP systems are integrated software…

Q: Is there a difference between managing quality and making sure it's good?

A: Yes, there is difference between managing quality and making sure it's good. Managing quality is…

Q: There are 500 wood pallets for the transportation of the final product cases. Each pallet has a cost…

A: Total no. of wood pallets = 500 Each pallet cost = $88 Pallet holds cases = 329

Q: What precisely is the dispersed processing model and how does SETI utilize it?

A: The dispersed processing model is also known as distributed computing.It is a technique that…

Q: Managed by Q case wage analysis: Cleaning operators and handymen are two of the most important jobs…

A: A job description is a written statement of the obligations, specifications, and criteria of a…

Q: What constitutes an "undue hardship" according to the current law? Is it based solely on cost?

A: The concept of "undue hardship" typically arises in the context of disability discrimination laws,…

Q: Milestone Project: Sample Project Brief Established in 2010, Jimmy Jonas Famous Sandwiches (JJFS) is…

A: The above-given case study of JJFS's new project pointed toward working on the efficiency of their…

Q: Describe what benchmarking is and how it works.

A: Benchmarking is process comparing organization's performance, processes, practices with those of…

Q: Describe the any EEDI improvement of your choice in the vessel as a project. List out the work…

A: An international benchmark that gauges a ship's energy effectiveness is the EEDI (Energy Efficiency…

Q: 7. A firm sells a perishable product, with a time window for sales limited to 1 month. The product…

A: The company needs to figure out the best number of items to buy in order to maximize the expected…

Q: Two undesirable outcomes include expanding the project's scope or adding unnecessary features. To…

A: In the world of project management, it's essential to strike a delicate balance between the…

Q: How could a quality management system be put into place

A: An organized and methodical approach to controlling quality is required when establishing a quality…

Q: Provide a five-line summary of lean development's advantages. Next, provide two examples from the…

A: Lean management is a management approach that originated in the manufacturing industry and is now…

Q: Question 3. Solve question using Excel. The graph and profit result should automatically update if…

A: Linear Programming is a mathematical and statistical tool that is used in operations management to…

Q: Office Automation Inc., developed a proposal for implementing a software system that will…

A: A network diagram is a graphical representation of a project which helps to identify the activity…

Q: According to a recent IBM survey of 585 software engineers and managers, a large percentage of…

A: Developing a smartphone app can be a risky undertaking, as the IBM survey highlights. However, it's…

Q: Imagine you are a deep sea diver in search of lost treasure. You have it on good authority that…

A: a) Probability A =0.78*.05=0.039 Probability B=0.15*0.80=0.12 Probability C=0.07*0.8=.056 B

Q: Please offer two examples of how the CMMI was really put into practice.

A: The Capability Maturity Model Integration (CMMI) facilitates process improvement inside businesses,…

Q: The vice president of Harling Equipment needs to select a new director of marketing. The two…

A: Find the given details below: Given details: Criterion L P A L 1 0.33 0.25 P 3 1 2…

Q: There is a good reason why enterprise resource planning (ERP) systems serve as the backbone of the…

A: It's important to be prepared for the various issues that might develop throughout the ERP…

Q: Which of the following techniques works for location analysis for both service/retail/professional…

A: Location analysis is a process that helps to identify the suitable location based on considering…

Q: Dr. Lillian Fok, a New Orleans psychologist, specializes in treating patients who are agoraphobic…

A: Forecasting is a technique used to predict future outcomes on the basis of past data. Simple linear…

Q: A firm has monthly average costs, in dollars, given by 42,000 C= + 300 + X where x is the number of…

A: The average cost is: C=42,000x+ 300 + x The production is limited =500 units per month The firm can…

Q: What is the net ADR yield given the following information: ADR = $180 Distribution channel costs =…

A: Net ADR yield can be determined with the following method: Net ADR = ADR - Distribution channel…

Q: Enter a suitable heading in the title field; and Explain how logistics differs from supply chain…

A: Supply chain management refers to the coordination and management of the activities involved in the…

Q: What are some of the telltale signals that a system's useful life is nearing to an end, and how may…

A: Business management includes all those activities that help the business in taking good or…

Q: What are ERP systems, anyway? As a way to design things, these systems have both pros and cons.

A: ERP (Enterprise Resource Planning) systems software applications that help organizations manage…

Q: When a new business is started, or a patent idea needs funding, venture capitalists or investment…

A: When presenting business plan to venture capitalist, investment bankers, it is essential to include…

Q: Define in your own words what leadership is and explain its basic components. Compare leadership…

A: Leadership is the capacity to inspire and direct a gathering of individuals towards a shared…

Q: Discuss the importance of assets’ inventory from a security perspective.

A: Assets' inventory is the less of inventory that company holds and provide its details.

Q: Construct a linear programming problem including at least three decision variables and three…

A: Linear programming problem construction: A firm produces three products. Three distinct machines…

Q: This strategy concentrates financial management and control out of a central home base while…

A: Strategic management is the process of defining an organization's goals, objectives, and strategies…

Q: In-depth explanation of the design philosophy and concept. While evaluating a design, what qualities…

A: Design Philosophy When your design reflects your brand's values and your company's goals, you have…

Q: What is the legal standard that a business should use in making the decision as to whether or not an…

A: Below is the explanation on given statement:

Q: Please answer this question 1. Which of the following is not included in the staffing plan? A. The…

A: Staffing plan indicating all the processes related with identifying a job role and filling the role…

Q: explore project management strategies to determine suitability for a given project

A: Project management strategies is a several approaches,that can be used and the suitability of each…

Q: Problem 2 The AB manufacturing company has two kinds of products: A and B. They earn $180 profit for…

A: Objective Functions and Constraints: Based on the given details, the objective…

Q: Why is global transportation such an important issue in supply chain success?

A: The movement of commodities or people across international borders is referred to as global…

Q: Cesar Rego Computers, a Mississippi chain of computer hardware and software retail outlets, supplies…

A: The mathematical technique known as EOQ, or "economic order quantity," is used to estimate the best…

Q: Question 1. Johnson's rule for operations scheduling Maria and Mary are machine operators who…

A: Scheduling is the critical method in which the company's activities are pre-planned to carry out the…

Q: The Outdoor Company is a catalog sales operation that specializes in outdoor recreational clothing.…

A: Seasonal index indicating the proportion between average quarterly demand and overall average…

Question

example 2. please show solution.

A small software development project at Krishna Dhir's firm has five major activities. The times (in days) are estim
and provided in the table below:
Activity
A
B
с
D
E
Immediate
Predecessor
A
B
C
a
2
WNA @N
3
4
2
3
m
56753
3
b
8
9
10
14
3
a) The expected completion time for this project is
days (enter your response as a whole number).
b) The project variance of completion time is days (enter your response as a whole number).
(keep two decimal places).
c) The probability that this projectbe can be completed in 17 days or less is
d) The probability that it will take more than 17 days to complete this projectbe is
e) The due date that yields a 98% chance of completion is days (keep two decimal places).
(keep two decimal places).

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Introduction;-

VIEW

Step 2: Calculating Te and variance:-

VIEW

Step 3: (a) Calculating Expected project completion duration:-

VIEW

Step 4: (b) Calculating the variance of the critical path:-

VIEW

Step 5: (c) Calculating probability:-

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 6 steps with 4 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

What is the minimum cost of crashing the following project that Roger Solano manages at Slippery Rock University by 4 days? Normal Cost $800 $200 $600 $750 $1,200 Normal Crash Activity Time (days) Time (days) 4 3 8 6 The total cost of crashing the project by 4 days is $ ABCDE 487 355 (Enter your response as a whole number.) Total Cost with Crashing Immediate Predecessor(s) $1,500 $1,650 By how many days should each activity be crashed to reduce the project completion time by 4 days? Fill in the table below. (Enter your responses as whole numbers.) Each Activity Should be Reduced BY (days) Activity A B C D E $1,100 $600 $650 A C
Using your results from Problem 6,(a) Calculate the probability that the project will be completedin 38 weeks.(b) Calculate the probability that the project will be completedin 42 weeks
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?
Project Scope Management Khan, (2006) (see below) states that, "Managing the scope of a project is the most important function of a project manager ... Effective scope management of a project also ensures the success of key completion areas, including time, cost, and quality. Project scope management can be further subdivided into its components which include: project initiation, scope planning, scope definition, scope verification, and scope change control." Based on your Integrated Project: Select two of the subdivisions above and discuss the primary issues that could arise from the process. Your response should begin with a definition of the selected subdivision before detailing the selected process
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?
B/U pe Activity A B D 11. A project has the activity duration and cost information indicated in the table where all times are in weeks. There is a penalty of $4,000 per week for every week the project exceeds 37 weeks. What is the lowest total cost for completing this project? Predecessor Time 18 11 A A B C E D Normal A H 12 15 3 19 Asbe de ABC' AMBBC RACE AB 7 8 12 6 Normal Cost Crash Time Crash Cost $22,000 $32,000 $62,000 $18,000 $35,000 $8,000 $23,000 $32,000 $56,000 $12,000 5 $18,000 19 $22,000 $9,000 $15,000 $5,000 $13,000 $20,000 $45,000 2 5 4
A project is scheduled to complete in six months duration. There are two activities in the project. The actual cost of Activity 1 is SAR 300,000 and that of Activity 2 is SAR 200,000. The planned value of these activities is SAR 280,000 and 150,000 respectively. On reviewing, the current project status is Activity 1 is 100% completed and Activity 2 is only 75% completed. (i) Perform the earned value calculations of the above project scenario and fill the given table. (ii) What do you infer about the project schedule and cost based on your calculations? Earned Value Planned Value Actual Cost Cost Variance Activity Scheduled Variance Cost performance Index Schedule performance Index Month 1
You are in charge of a project at the local community center. The center needs to remodel one ofthe rooms in time for the start of a new program. Delays in the project mean that the center mustrent other space at a nearby church at additional cost. Time and cost data for your project arecontained in below table. Your interest is in minimizing the cost of the project to the communitycenter.Using the normal times for each activity, what is the earliest date you can complete the project?Suppose the variable overhead costs are $50 per day for your project. Also, suppose that thecenter must pay $40 per day for a temporary room on day 15 or beyond. Find the minimum-costproject schedule using below format.The AON diagram for the community center project is below. Crash 4 times and find total cost.
A project is scheduled to complete in six months duration. There are two activities in the project. The actual cost of Activity 1 is SAR 300,000 and that of Activity 2 is SAR 200,000. The planned value of these activities is SAR 280,000 and 150,000 respectively. On reviewing, the current project status is Activity 1 is 100% completed and Activity 2 is only 75% completed. (i) Perform the earned value calculations of the above project scenario and fill the given table. Activity Month 1 Earned Value Planned Value Actual Cost Cost Variance Scheduled Variance Cost performance Index Schedule performance Index (ii) What do you infer about the project schedule and cost based on your calculations?
Dave is the project manager for a construction project that is building agazebo. When the project first started, he met with the stakeholders to definethe scope. The sponsors mentioned that the gazebo is a really important partof their daughter’s wedding ceremony that was planned for 7 months fromthen. In fact, they said that if the gazebo couldn’t be completed in 7 months, itwouldn’t be worth it for them to even start the project. Dave wrote down the7-month deadline to put in his Project Scope Statement. In which section ofthe document did the deadline appear?”A. Project ConstraintsB. Project DeliverablesC. Project ObjectivesD. Project Assumptions Which of the following is a “hygiene factor” under Herzberg’s Motivation-Hygiene Theory?A. Recognition for excellent workB. Self-actualizationC. Clean clothingD. Good relations with coworkers and managers
What is the minimum cost of crashing the following project that Roger Solano manages at Slippery Rock University by 4 days? Crash Normal Activity Time (days) Time (days) Normal Cost A 5 4 B 9 7 C 6 5 D 7 5 E 7 4 Total Cost with Crashing Immediate Predecessor(s) $800 $300 $600 $750 $1,200 By how many days should each activity be crashed to reduce the project completion time by 4 days? Fill in the table below. (Enter your responses as whole numbers.) Each Activity Should be Reduced BY (days) Activity A B C D E $1,100 $400 $650 $1,500 $1,650 | | | < 0
8 EARNED VALUE ANALYSIS The following project is reported to be at the end of its 8 week. Find the cost and schedule variances. Also find the CPI, SPI, CSI, ETC and EAC for the project. Find the condition of the project at the this reporting period. PV AC Budget ($) Duration Actual Cost % D-8 Activity Predecessor (s) (week) ($) Complete 300 400 A 3 100 A3 В 4 200 180 100 B:4 C 7 250 300 90 A 8 600 400 50 400 200 В 40 150 180 F В 4 100 G C 4 100 200 40 500 H D, E 2 300 F, G 3 J H, I 1 100 ㅇ CO 프 (-)