Activities, preceding activities, normal and crashed completion times of each of the activities andcrashed costs of activities per week of a project are given in the following table.Activity PrecedingActivityCrashed Completiontime (week)NormalCrashed CostCompletion Time(week)7per weekA76.5$500$700$600$800$400CA43A, CВ, DD, ED9E109.F9II.Find the slack time of each of the activities and the critical activities.Find the minimum possible completion time of the project by considering the crashedcompletion times and the minimal total cost of crashing the project.iv.

Slack time refers to the amount of time by which it is possible to delay a task without resulting in…

Answered: iii. Find the slack time of each of 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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Which of the following happens during the starting phase of project management? Revise budget Assign tasks. Determine completion Solve problems. Establish team rules.
1. A project was planned using PERT with three-time estimates. The expected completion time of the project was determined to be 40 weeks. The variance of the critical path is 9. (e) The project manager wishes to set the due date for the completion of the project so that there is a 90% chance of finishing on schedule. Thus, there would only be a 10% chance the project would take longer than this due date. What should this due date be?
The following eight activities constitute an overall bar chart portrayal of a 4-month project. Two months after the start of the project. Activities A, C, D are completed, E is 50% complete and B is 25% complete. The total cost that has been spent is $10,500. For this project, using earned value concepts, determine the schedule and cost variance. Is the project ahead or behind schedule? Over or under budget? Activity A B VAHE с D F Cost $2,000 $8,000 $2,000 $5,000 $1,000 $15,000 Month 1 Month 2 Month 3 Month 4
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.Estimate to Complete c.Estimate at Completion
Risk reduction and risk transfer are two techniques that can be used to manage risk in a project. Using suitable examples, explain both risk reduction and risk transfer.
Normal completion time and accelerated completion time Steps that can be taken to crash the project to the shortest time at the lowest cost. Hint: Determine each step's cost and the duration of the project at that stage.

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iii. Find the slack time of each of the activities and the critical activities. iv. Find the minimum possible completion time of the project by considering the crashed completion times and the minimal total cost of crashing the project.