ActivityABсDEFGOptimisticTime514562.57.5Most ProbableTime5.5355.5738.5b. What is the probability that the project will be completed within 31 weeks?c. What is the probability that the project will be completed in more than 32 weeks?d. What is the probability that the project will be completed in 33 weeks?PessimisticTime9Suppose that the critical path is A-C-D-E-G. Use Appendix A to answer the questions. Do not round intermediate calculations. Round your answersto three decimal places.a. What is the probability that the project will be completed within 34 weeks?56983.512.5

Answered: a. What is the probability that the…

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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Does a risk management project require a PM? Why or why not?
B and C are incorrect.
The ideal outcome of the planning process group is to complete a project successfully by delivering the agreed-upon project scope within time, cost, and quality constraints Select one: True False Initiating involves developing a project charter, which is part of the project ______ management knowledge area. Select one: a. scope b. risk c. communications d. integration Estimate activity resources output Select one: a. Activity list, activity attributes, milestone list, project management plan updates b. Project schedule network diagrams, project documents updates c. Activity resource requirements, resource breakdown structure, project documents updates d. Schedule management plan As time progresses, the scope of a project should become ... Select one: a. more clear and specific b. more vague c. more ambiguous d. more difficult
Hi, can you help me find one positive risk and find the response strategy and specific response action for it and also explain in detail why you think they have that level of probability and impact on the project. can you also place it in the probability impact matrix. here is a picture of my work, if you can just follow as I did for the positive risks. Thanks in advance
The expected number of days to completion for a different project is E(x) = 3.32 The variance of days to completion is var(x) = 1.22 The project cost involves A fixed cost (in thousands of dollars) of FC = $83.783 A variable cost for each day taken to complete the project ($000) VC = $9.774 14 The expected value of the project cost is $_______ thousand. a 109.364 b 112.746 c 116.233 d 119.828
Answer all. What are the critical activities? What is the expected project duration? calculate the variance of the project What is the standard deviation (te) for the project? Suppose that management allotted 13-unit time for the project. What is the probability that we will meet the 13-unit time deadline? If management wants to have a 0.99 probability of meeting the time, what should be the scheduled project duration?
A project has the following tasks and duration estimates given. These three tasks are done in succession on a project. Task Optimistic Estimate Most Likely Estimate Pessimistic Estimate Alpha 30 days 40 days 50 days Beta 20 days 25 days 28 days Charlie 4 days 10 days 12 days Delta 25 days 30 days 50 days What is the expected duration for the project? (3 points) What is the variance for the project? (3 points) What is the standard deviation of the project? (3 points) What is the range of the duration of the project given 3 sigma? (3 points)
(i) Project's standard deviation is the square root of the variance. Write a formula in cell F48 to compute the project's standard deviation.(j)The earliest finish time for the last activity is the Project's duration. Write a formula in cell F50 to compute the project's duration. (Hint: You have to only refer to the cell range)We would like to use the variance information to compute the probability that the entire project will be complete in 35 days. Screenshot attached thank you!! z
28 The beta distribution is used in project management to: Select one: a. calculate pessimistic and optimistic activity times. b. calculate slack on activities not on the critical path. c. calculate the probability that a project will be completed within its budget. d. determine which activity should be crashed. e. none of these
One of Mary's employees, Shira, has obtained a new job and given her two weeks' notice. Shira was responsible for updating the company website with information on the new bag policy. Mary gave Shira's responsibilities to another employee in the Marketing department who has similar knowledge and skills.What is the probability of this risk occurring and what is the impact on the project? a.) Low probability and medium impact b.) High probability and high impact c.) Medium probability and low impact d.) High probability and low impact
The chart below shows the initial investment and expected yearly payback for Project A and Project B Project A Project B Initial Investment $ 300,000 $ 450,000 Expected Yearly PayBack $ 45,000 $ 90,000 For Project A, There has been a change in the expected yearly payback. Years 1 and 2 – you are expecting $45,000 each year. For the next three years, you are expecting $70,000 each year. What would be the average ROI for this alternative?
Your supervisor was told that the client would like to complete the project in 56 days. Which path in the project network has the greatest risk of running over this new deadline of 56 days? Prepare a report for Susan regarding your findings. Include your recommended strategy to finish the project in the least possible time.

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