If the pessimistic duration of an activity is 205, the most likely duration is 160 days and the optimistic duration is 115 days, what is the expected time of the activity for PERT/CPM analysis ? What is the variance for the activity time for PERT/CPM analysis ?
If the pessimistic duration of an activity is 205, the most likely duration is 160 days and the optimistic duration is 115 days, what is the expected time of the activity for PERT/CPM analysis ? What is the variance for the activity time for PERT/CPM analysis ?
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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Question
If the pessimistic duration of an activity is 205, the most likely duration is 160 days and the optimistic duration is 115 days, what is the expected time of the activity for PERT/CPM analysis ? What is the variance for the activity time for PERT/CPM analysis ?
Expert Solution
Step 1
Formula to be used;
te =
Variance =
where;
| te = Expected duration |
| a = Optimistic completion time |
| m = Most likely completion time |
| b = Pessimistic completion time |
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