Draw the activity network for this new contract (either AON or AOA). 2. Determine the Expected Time and Variance for each activity. 3.. Show the activity schedule (ES, EF, LS, and LF) as well as slack (in table).
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.
Al construction has developed tasks duration and predecessor relationships in the following table for building model houses. The manager has been concerned with the amount of time it took to complete several jobs, some of the company workers are very unreliable. A list of activities and their optimistic completion time, the most likely time and the pessimistic completion time (in days) for a new contract are given in the following table.
|
Activity |
Predecessors |
Optimistic (a) |
Most likely (m) |
Pessimistic (b) |
|
|
|
|
|
|
|
A |
-- |
1 |
2 |
3 |
|
B |
- |
2 |
3 |
4 |
|
C |
A |
4 |
5 |
6 |
|
D |
B |
8 |
9 |
10 |
|
E |
C, D |
2 |
5 |
8 |
|
F |
D |
4 |
5 |
6 |
|
G |
E |
1 |
2 |
3 |
|
|
|
|
|
|
1.Draw the activity network for this new contract (either AON or AOA).
2. Determine the Expected Time and Variance for each activity.
3.. Show the activity
4.Determine and state the critical path for this project. This MUST be based on your work
in (C.) and not by inspection.
5.What are the expected time and the variance of the project?
6.What is the probability the project will be finished within 20 weeks?
Note: We are allowed to do three sub-parts only at a time.
The critical path method is used to find the total expected duration of the project.
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