The Farmer's American Bank of Leesburg is planning to install a new computerized accounts system.Bank management has determined the activities required to complete the project, the precedencerelationships of the activities, and activity time estimates, as shown in the following table. Use POM-QM to analyze this project. According to the result of POM-QM, the expected project completiontime is (type number only, no text)ActivityabCdCf8kActivity DescriptionPosition recruitingSystem developmentSystem trainingEquipment trainingManual system testPreliminary system changeoverComputer-personnel interfaceEquipment modificationEquipment testingSystem debugging and installationEquipment changeoverActivityPredecessoraab, cb, cd, ed, ehf.ga5345I13Time Estimates(weeks)1125m81278I462.51.28b17151023113971211 According to the result of POM-QM (Farmer's American Bank problem), the probability that theproject will be completed in 40 weeks or less isO 96.49%46.49%O 3.51%O 50%

Expected project completion time refers to the timeline by which all the activities or tasks of the…

Answered: The Farmer's American Bank of Leesburg…

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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A group of developers is building a new shopping center. A consultant for the developers has constructed the following project network and assigned activity times, in weeks. Determine the earliest and latest activity times, activity slack, critical path, and duration for the project.
Project Management In the below Precedence Diagram ( The activities durations are in weeks ) If the project manager wants to add extra (two) weeks for activity ( F ) and (three) weeks just in case other tasks may slip the schedule. Q: Show the impact of these provisions on the network diagram and recalculate the total project duration.
The manager of the Oak Hills Swimming Club is planning the club’s swimming team program. The first team practice is scheduled for May 1. The activities, their immediate predecessors, and the activity time estimates (in weeks) are as follows: Activity Optimistic Most Probable Pessimistic Immediate Predecessors A 1 2 3 - B 4 6 8 A C 2 4 6 A D 1 2 3 B, C E 2 3 4 B F 1 2 3 A G 1 2 3 D H 1 2 3 G I 1 1 1 E, H, F a. Draw a project network for this problem. b. Fill in all the blanks in the following table. c. What is the expected time and variance to complete the project? Note: For variance (σ2) in activity time, keep two decimal places. Activity Expected Time t (weeks) Variance σ2 ES EF LS LF Slack Critical Path? A B C…
Q2) Draw the network & Calculate the critical path for the activities of the project? Activity Predecessor Duration A B C AAB S45634 D E C F D, E
The following table shows estimates of activity times (in weeks) for a project: Optimistic Time 5 Activity A B с D EFG 1 4 5 6 2.5 7.5 Most Probable Time 5.5 3 5 5.5 7 b. What is the probability that the project will be completed within 31 weeks? 3 8.5 Suppose that the critical path is A-C-D-E-G. Use Appendix A to answer the questions. Do not round intermediate calculations. Round your answers to three decimal places. a. What is the probability that the project will be completed within 34 weeks? d. What is the probability that the project will be completed in 33 weeks? C. What is the probability that the project will be completed in more than 32 weeks? Pessimistic Time 9 5 6 9 8 3.5 12.5
Given is a Project with network diagram and activity times as shown below. Activity Time (wks) A 13 B 5 Start с 14 A c) The Slack time of Activity C = Blank 3 weeks D D a) The Earliest Start (ES) time of Activity I = Blank 1 weeks 9 b) The Latest Start (LS) time of Activity B = Blank 2 weeks f) The Project Completion time = Blank 6 weeks d) The Earliest Finish (EF) time of Activity H = Blank 4 weeks e) The Latest Finish (LF) time of Activity B = Blank 5 weeks B F E 12 E F LL 17 H G 9 J H 15 - 15 J 2
Consider a project for which the following activities and time estimates in weeks apply activity To tm tp 1-2 3 5 8 1-3 2 3 5 1-5 2 3 4 2-3 1 2 5 2-6 7 8 9 3-4 1 3 6 3-5 2 4 6 4-5 1 2 4 5-6 1 2 3 Draw the project network Compute the expected time and variance for each activity iii. Compute slack for each event and find the critical path Find the length of the critical path and the project duration Approximate the probability that activity 3 – 4 will have positive slack. What is the managerial implication of that probability?
Three activities are candidates for crashing on a project network for a large computer installation (all are, of course, critical). Activity details are in the following table: Normal Activity Time (days) A B с 7 4 11 Crash Time (days) 6 2 9 Normal Cost $5,000 $1,400 $4,200 Total Cost with Crashing Immediate Predecessor(s) $5,500 $3,100 $6,200 A
The project described in the following table has just begun. It is scheduled to be completed in 11 weeks.Use Table B1 and Table B2. Activity Estimated Time(weeks) Standard Deviation(wks.) 1-2 4 0.70 2-4 6 0.90 1-3 3 0.62 3-4 9 1.90 a. If you were the manager of this project, would you be concerned? (Round your intermediate calculations to 2 decimal places and "Probability" values to 4 decimal places.) because the probability of finishing on schedule is only about . b. If there is a penalty of $5,000 a week for each week the project is late, what is the probability of incurring a penalty of at least $5,000? (Round your intermediate calculations to 2 decimal places and "Probability" values to 4 decimal places.) Probability Have worked this with various formulas and all come back wrong. Where am I making a mistake
Using the information provided in the table, the network diagram and the project completion time = 25 weeks, reduce the completion time of the project by 5 weeks in the most economical way. Activity A B с D E TI F G H Normal Time (weeks) A(3) 3 D(6) 4 6 6 6 5 7 AON network diagram B(4) 3 C(6) Normal Cost ($) 500 600 700 1,450 1,750 200 1,450 450 E(6) F(5) Crash Time (weeks) 2 3 3 4 4 5 5 3 G(7) Crash Cost ($) 890 710 1,180 2,070 2,290 200 1,740 450 H(3) Maximum Weeks Reduced 1 1 3 2 2 O 2 O Crash Cost per Week ($) 390 110 160 310 270 0 145 0

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