You may need to use the appropriate technology to answer this question. The product development group at Landon Corporation has been working on a new computer software product that has the potential to capture a large market share. Through outside sources, Landon's management learned that a competitor is working to introduce a similar product. As a result, Landon's top management increased its pressure on the product development group. The group's leader turned to PERT/CPM as an aid to scheduling the activities remaining before the new product can be brought to the market. The project network is depicted in the following diagram. Start A B C D The activity time estimates (in weeks) are listed in the following table. Activity Optimistic Most Probable Pessimistic E F G H I J 3 3 4 2 7 6.5 4.5 6 2 B 4 4 3.5 5 3 10 E 7.5 6 7 2.5 5 D (5 H 5 7 6 4 13 11.5 7.5 14 6 6 Finish (a) Develop an activity schedule for this project and identify the critical path activities. (Enter your answers as a comma- separated list.) (b) Based solely on the critical path, what is the probability that the project will be completed so that Landon Corporation may introduce the new product within 25 weeks? (Round your answer to four decimal places.) (c) Based solely on the critical path, what is the probability that the project will be completed so that Landon Corporation may introduce the new product within 30 weeks? (Round your answer to four decimal places.)
You may need to use the appropriate technology to answer this question. The product development group at Landon Corporation has been working on a new computer software product that has the potential to capture a large market share. Through outside sources, Landon's management learned that a competitor is working to introduce a similar product. As a result, Landon's top management increased its pressure on the product development group. The group's leader turned to PERT/CPM as an aid to scheduling the activities remaining before the new product can be brought to the market. The project network is depicted in the following diagram. Start A B C D The activity time estimates (in weeks) are listed in the following table. Activity Optimistic Most Probable Pessimistic E F G H I J 3 3 4 2 7 6.5 4.5 6 2 B 4 4 3.5 5 3 10 E 7.5 6 7 2.5 5 D (5 H 5 7 6 4 13 11.5 7.5 14 6 6 Finish (a) Develop an activity schedule for this project and identify the critical path activities. (Enter your answers as a comma- separated list.) (b) Based solely on the critical path, what is the probability that the project will be completed so that Landon Corporation may introduce the new product within 25 weeks? (Round your answer to four decimal places.) (c) Based solely on the critical path, what is the probability that the project will be completed so that Landon Corporation may introduce the new product within 30 weeks? (Round your answer to four decimal places.)
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
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Transcribed Image Text:The text on the educational website introduces a project management scenario at Landon Corporation. The product development group is under pressure to launch a new software product due to competition. To manage the project more efficiently, the group leader is using PERT/CPM techniques.
**Project Network Diagram:**
- The diagram shows a series of activities: Start, A, B, C, D, E, F, G, H, I, J, leading to the Finish.
- Arrows indicate the sequence and dependencies between activities.
**Activity Time Estimates:**
| Activity | Optimistic | Most Probable | Pessimistic |
|----------|------------|---------------|-------------|
| A | 3 | 4 | 5 |
| B | 3 | 3.5 | 7 |
| C | 4 | 5 | 6 |
| D | 2 | 3 | 4 |
| E | 7 | 10 | 13 |
| F | 6.5 | 7.5 | 11.5 |
| G | 4.5 | 6 | 7.5 |
| H | 6 | 7 | 14 |
| I | 2 | 2.5 | 6 |
| J | 4 | 5 | 6 |
**Questions:**
(a) Develop an activity schedule for this project and identify the critical path activities. (Enter your answers as a comma-separated list.)
(b) Based solely on the critical path, what is the probability that the project will be completed so that Landon Corporation may introduce the new product within 25 weeks? (Round your answer to four decimal places.)
(c) Based solely on the critical path, what is the probability that the project will be completed so that Landon Corporation may introduce the new product within 30 weeks? (Round your answer to four decimal places.)
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