5. The Farmer's American Bank of Leesburg is planning to install a new computerized accounts system. Bank management has determined the activities required to complete the project, the pre- cedence relationships of the activities, and activity time estimates, as shown in the following table: Activity Activity Description Position recruiting System development System training a b C d e f h i j k Equipment training Manual system test Preliminary system changeover Computer-personnel interface Equipment modification Equipment testing System debugging and installation Equipment changeover Activity Predecessor a a b, c b, c d, e d, e h g, i Time Estimates (weeks) a 5 3 4 5 1 1 3 1 1 2 5 m 8 12 7 8 1 4 6 2.5 1 2 8 b 17 15 10 23 1 13 9 7 1 2 11 Determine the expected project completion time and variance, and determine the probability that the project will be completed in 40 weeks or less.

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...
icon
Related questions
Question
Draw the network diagram.
Determine ES, LS, EF and LF for each activity.
What is the variance for each activity?
What is the critical path?
What is the estimated time of the critical path?
What is the activity variance along the critical path?
What is the probability of completion of the project before week 40?
Transcribed Image Text:Draw the network diagram. Determine ES, LS, EF and LF for each activity. What is the variance for each activity? What is the critical path? What is the estimated time of the critical path? What is the activity variance along the critical path? What is the probability of completion of the project before week 40?
15. The Farmer's American Bank of Leesburg is planning to install a new computerized accounts
system. Bank management has determined the activities required to complete the project, the pre-
cedence relationships of the activities, and activity time estimates, as shown in the following table:
Activity Activity Description
Position recruiting
System development
System training
Equipment training
Manual system test
Preliminary system changeover
Computer-personnel interface
a
b
с
d
e
f
h
i
j
k
Equipment modification
Equipment testing
System debugging and installation
Equipment changeover
Activity
Predecessor
a
a
b, c
b, c
d, e
d, e
h
f, g
g, i
Time Estimates
(weeks)
a
5
3
4
5
1
1
3
1
1
2
5
m
8
12
7
8
1
4
6
2.5
1
2
8
b
17
15
10
23
1
13
9
7
1
2
11
Determine the expected project completion time and variance, and determine the probability that
the project will be completed in 40 weeks or less.
Transcribed Image Text:15. The Farmer's American Bank of Leesburg is planning to install a new computerized accounts system. Bank management has determined the activities required to complete the project, the pre- cedence relationships of the activities, and activity time estimates, as shown in the following table: Activity Activity Description Position recruiting System development System training Equipment training Manual system test Preliminary system changeover Computer-personnel interface a b с d e f h i j k Equipment modification Equipment testing System debugging and installation Equipment changeover Activity Predecessor a a b, c b, c d, e d, e h f, g g, i Time Estimates (weeks) a 5 3 4 5 1 1 3 1 1 2 5 m 8 12 7 8 1 4 6 2.5 1 2 8 b 17 15 10 23 1 13 9 7 1 2 11 Determine the expected project completion time and variance, and determine the probability that the project will be completed in 40 weeks or less.
Expert Solution
Step 1

The above-given question is to calculate project completion time and variance according to the given data, A project completion time is typically distributed with a mean equivalent to the critical path's length. The normal length of the critical path is the sum of the normal activities' durations of that path. In the project the board set, a fluctuation can be an issue or risk, with an effect on the schedule and spending plan. Project cost variance also called financial plan fluctuation, is the distinction between the real cost and the planned cost, or what you expected to spend versus what you really spent. Below are the required calculations-

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 5 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
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…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.