Dr. Ell has been given a budget of $10,000 to organize a conference at her university in 3 months' time (13 weeks) via an educational grant. She has a team of 2 research assistants and after some deliberation, they identified the following activities that are required to be completed for hosting a successful conference. Activity Immediate Predecessor Description Planning Topics and Sessions A Identifying potential venues in the city Selecting a venue for the conference В -- В D Inviting presenters from various universities А, С E Finalizing presenters for each session D F Completing registration for all presenters E Last minute edits, replacements, and lists F Dr. Ell has approached you, her student, to help her figure this out, as a part of her Management Science class assignment. Please give your responses, with appropriate explanations, tables, and formulas, where relevant, to the following questions: 1. Follow a PERT/CPM model to identify the project network, activity schedule, critical activities, and the expected time for completing the project successfully. The expected completion times for each of the listed activities is based on the experiences of all the people on the team and is as follows: Activity Optimistic Most Probable Pessimistic A 1 2 В 1 3 1 3 1 E 1 2 3 F 1 2 3 G 1 1
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Can someone please help me identify the project network, activity
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