Time (weeks)Optimistic Most LikelyPessimisticActivityADescriptionSelect project managerDevelop team recruitment planImplement team recruitment planStaff needs assessmentStaff recruitment advertisingStaff selection evaluation proceduresSelect project team membersDevelop contractor bid requirementsDevelop contractor bid evaluation procedureStaff applicant evaluation and selectionSolicit contractor bidsPredecessorm113C6.В13ED111F124G46.H.16.G, HE, F, GI, J34K410Contractor bid evaluationK36.8.MSelect contractor and complete negotiations23||ABBABCA d. Determine the probability that the team and the contractor will be in place and the projectstarted within: (i) 7 months (about 30 weeks), (ii) 9 months (about 39 weeks).e. Find the period (in weeks) by which you would be 90% sure of completing the process.

Based on the 3-time estimates given, we find the Expected duration and Variance for each activity as…

Answered: d. Determine 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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After the first month of a project, the Actual Cost was $400 and the planned cost for the first month was $500. Currently, only 50% of the work have been completed. Based on this information, calculate the following: a.Cost Performance Index b.
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IT PROJECT MANAGEMENT:EX 2.4 You have a project to be completed in 12 months, and the budget of the project is R100, 000. 6 months have passed, and R60, 000 has been spent., but on closer view you find that only 40% of work has been completed so far. Given in question : Actual cost (AC) =R60 000 Earned Value (EV) =40% of R100 000 =R40 000 Find the project's cost varience (CV) and determine if you are under budget or over budget.
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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.
-15) A project being analyzed by PERT has 60 activities, 13 of which are on the critical path. If the estimated time along the critical path is 214 days with a project variance of 100, what is the probability that the project will take less than 224 days to complete? A) near zero B) 0.0126 C) 0.1587 D) 0.8413 E) 2.14 22
29 A project being analyzed by PERT has 60 activities, 13 of which are on the critical path. If the estimated time along the critical path is 214 days with a project variance of 100, what is the probability that the project will take 224 days or more to complete? Select one: a. 0.1587 b. 2.14 c. near zero d. 0.0126 e. 0.8413
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d. Determine the probability that the team and the contractor will be in place and the project started within: (i) 7 months (about 30 weeks), (ii) 9 months (about 39 weeks). e. Find the period (in weeks) by which you would be 90% sure of completing the process.