A company is willing to develop their rocket before the end of current financialyear which is now 28 weeks away. The chief engineer of the company hasdecided to use PERT technique in order to plan, schedule and control programof development for the data given in table below.What is the probability that the program will be completed by the end of thecurrent financial year? (all durations are in weeks).(i) G)Optimum DurationMost likely durationPesimistic duration12381332843810471036.38491048.49.579.126.51179.1484.002.

Find the Given details below: (i) (j) Optimistic Time(To) a(Weeks) Pessimistic Time(Tp) b(Weeks)…

Answered: A company is willing to develop their…

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...

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Consider the office renovation project data in Table 7.16. A“zero” time estimate means that the activity could take a verysmall amount of time and should be treated as a numericzero in the analysis.a. Based on the critical path, find the probability ofcompleting the office renovation project by 39 days.b. Find the date by which you would be 90 percent sure ofcompleting the project.
Using project management software to explore the effects of various scenarios on the project is called: projection sorting what-if analysis filtering
Earned Value Management (EVM) is a method or an approach in measuring the project performance throughout the project at any point of time that integrates the variances of cost and schedule in assisting organizations to decide either to continue or terminate the project. Within 200 days, the equipment supplier has agreed to supply 100 units of spare equipment at the price of RM500 per unit. However, 50 days later, the supplier can only supply 21 units with an actual total cost of RM11,400. c. Indicate the cost performance of the supply (in percentage)d. Indicate the performance of the supply in term of schedule (in percentage)
Mangement Project management is a discipline that involves planning, organizing, and overseeing the execution of a project from initiation to completion. It encompasses defining project goals, outlining tasks, allocating resources, and managing budgets and timelines. A successful project manager must possess strong leadership skills, effective communication, and the ability to mitigate risks and solve problems efficiently. Collaboration among team members is crucial, as is the flexibility to adapt to unexpected challenges that may arise during the project lifecycle. Continuous monitoring and evaluation ensure that the project stays on track, meeting objectives and delivering value to stakeholders. Question: How can project managers encourage effective collaboration and communication among team members to ensure the successful and timely completion of a project?
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The following table shows the various activities of the development of a new product in your organization. Activity Event Immediate Predecessor(s) Estimates of Activity Duration (Weeks) Optimistic (To) Most Likely (Tm) Pessimistic (Tp) Average (Te) 1 A - 2 3 4 ? 2 B A 1 2 ? 2 3 C A 1 ? 4 2.2 4 D B ? 5 6 5 5 E B 3 ? 5 4 6 F C 2 3 ? 3 7 G D ? 2 4 2.2 8 H E,F, G 3 4 6 ? 9 I H 3 ? 5 4 10 J I 2 1 3 ? Questions: Calculate ALL the missing (?) data points. Draw the PERT network from the given data. Determine ALL the paths, the critical path and its total duration in days. Explain the limitations…
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Integrated Health was a large private, nonprofit health care system located in Tempe,Arizona. A year ago, the decision was made to implement a computerized medication administration record (MAR) at Integrated Health. During the first year, the MAR system would be implemented at Central Hospital of Tempe. After the “bugs” were worked out, the computerized MAR would be implemented system-wide. The MIS department at Central Hospital was designated as the initiator and direction setter for the project. Art Smith, the Chief Information Officer at Central Hospital assigned Kate Cohen, a programmer/analyst, as project leader. Kate had the responsibility for developing and implementing the MAR project at Central. Kate did the programming work for the MAR and assembled a team from Pharmacy Services, Nursing Services, and Internal Auditing. Members of the project team provided feedback on the software, made suggestions related to user training, and worked on an implementation schedule. Both team…
Given the information below, what are the estimated expected (mean) times (in weeks) for activities A-H? What are the estimated standard deviations (in weeks) in the times for activities A-H?
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In a traditional project, the project manager saves the project schedule as a baseline plan in project management software. During the course of the project, the variance reports are created to show the difference between planned and actual activities. Project monitoring and control is different in agile projects than traditional projects. In an agile project, different tools and techniques are used to monitor and control project schedules. How does it help a project manager to monitor cost and schedule in a traditional project? There are different techniques for monitoring schedule performance in a traditional project. One method is a schedule variance report. How is a schedule variance report different from schedule variance in earned value? Does the role of the project manager change when monitoring and controlling agile projects?

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