Organize the information above in an activity precedence table showing the activity, precedent and duration (calculated using the PERT weighted average formula and round to the nearest integer). 2. Draw an AON network diagram and calculate its early start, early finish, late start and late finish times, floats (Free and total) for each activity. Make sure you fully label all nodes in the network. 3. Identify the project’s critical path and its length.
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.
An IT project manager of ABC Company has developed an activity list for the purpose of
tracking employees’ daily activities on the project. The project’s
high risk due to the possibility of sabotage by some of the employees. In addition, the IT project
manager has gathered time information for each activity, as shown in the table below. Consider
the following project’s tasks and their identified best, likely, and worst case estimates of task
duration. Assume the organization computes PERT weight average based on the standard
formula.
Activity Optimistic Most
likely
Pessimistic
A 5 5 25
B 3 5 8
C 7 5 8
D 4 4 5
E 10 19 34
F 3 14 18
G 6 16 20
H 32 44 65
I 12 17 25
J 2 8 18
The dependencies between the 10 activities listed in the table above are as follows:
The project starts with two activities—A, and B—which can be done concurrently.
When activity A is finished, activity C can start
When activity B is finished, activities D and E can start
When both activities C and D are finished, activity F can start
When activity E is finished, activity G can start
When activity F is finished, activity H can start
When both activities G and H are finished, activity I can start
When activity G is finished, activity J can start
The project is complete when activities I and J are finished
Questions:
1. Organize the information above in an activity precedence table showing the activity,
precedent and duration (calculated using the PERT weighted average formula and
round to the nearest integer).
2. Draw an AON network diagram and calculate its early start, early finish, late start and
late finish times, floats (Free and total) for each activity. Make sure you fully label all
nodes in the network.
3. Identify the project’s critical path and its length.
Here, for each activity, I will determine the expected activity time, I have calculated the same using the PERT weighted average formula, Next, I will prepare the AON diagram, from the REF of the AON diagram, I can answer all the questions,
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