3. For the following seven-activity project, develop a precedence network, calculate all relevant characteristics of each activity (ES, EF, LS, LF, TF), and the project duration. Then go through a repetitive process to expedite the project on a least-cost basis until the project is crashed. The solution should include the precedence diagram and calculations for each activity, and then the cyclical calculation to shorten the project activity by activity in a least-cost manner. What is the total cost of the crashed project? Why is this less than the sum of the crashed costs for the seven activities? Please use Table A (Table A-2.pdf Please provide a detailed answer to this question. Table A Activity Relationships Normal Duration Crash Duration Normal Cost Crash Cost A B C D F F G A: FS B: FS C: FS D: FS A: FS C, E, F: FS 3 4 3 4 4 5 6 2 3 1 2 2 2 4 $3,000 $4,000 $6,500 $6,000 $3,500 $2,200 $3,900 $3.150 $4,250 $7,000 $6,500 $3,900 $2,725 $5,00

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Cost control

Cost control or management in property or project management is the process by which managers maintain costs under human resource management, assets, and capital expenditure to ensure that the project ends on a budget basis. Cost management depends on reasonable estimates and ongoing monitoring during the project. As a result, good cost control is essential for any construction business that wants to succeed.