OPERATIONS MANAGEMENT CONNECT AC
14th Edition
ISBN: 9781264592784
Author: Stevenson
Publisher: MCG
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Chapter 17, Problem 9DRQ
Why might a probabilistic estimate of a project’s completion time based solely on the variance of the critical path be misleading? Under what circumstances would it be acceptable?
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Students have asked these similar questions
You have determined the following for a given project:
Expected completion time of the project = 26 weeks
Standard deviation of project completion time = 8
What is the probability of completing the project in more than 32 weeks?
answer as a decimal and take it to four places.
Answer following 4 questions
1: The probability that the project would be completed within 40 days:
Group of answer choices
0.0228
0.0456
0.4772
0.9772
None of the above
2: The probability that the project would take longer than 40 days is:
Group of answer choices
0.0228
0.0456
0.4772
0.9772
None of the above
3: The probability that the project would be completed within 20 days:
Group of answer choices
0.0228
0.0456
0.4772
0.9772
None of the above
4: The probability that the project would take longer than 20 days to finish:
Group of answer choices
0.0228
0.0456
0.4772
0.9772
None of the above
Compute the expected time and variance for each activity.
What is the critical path and the expected duration of the project?
What is the probability that the project will take longer than 58 days to complete?
Chapter 17 Solutions
OPERATIONS MANAGEMENT CONNECT AC
Ch. 17.3 - Will the AI technology render project managers...Ch. 17.3 - Prob. 1.2RQCh. 17 - A project manager may need two skill setsthose of...Ch. 17 - Explain the term project champion and list some...Ch. 17 - List the steps in risk management.Ch. 17 - Give some examples of ethical issues that may...Ch. 17 - What are the key advantages of using project...Ch. 17 - What is a work breakdown structure, and how is it...Ch. 17 - Identify the term being described for each of the...Ch. 17 - List the main advantages of PERT. List the main...
Ch. 17 - Why might a probabilistic estimate of a projects...Ch. 17 - Define each of these terms, and indicate how each...Ch. 17 - Why might a person wish to be involved with a...Ch. 17 - Prob. 12DRQCh. 17 - What are some aspects of the project managers job...Ch. 17 - What is the main benefit of a project organization...Ch. 17 - What trade-offs are associated with time and cost...Ch. 17 - Who needs to be involved in assessing the cost of...Ch. 17 - Prob. 3TSCh. 17 - Project management techniques have been used...Ch. 17 - Give three examples of unethical conduct involving...Ch. 17 - For each of the following network diagrams,...Ch. 17 - Chris received new word processing software for...Ch. 17 - Prepare a Gantt chart for each of the following in...Ch. 17 - a. Develop a list of activities and their...Ch. 17 - For each of the problems listed, determine the...Ch. 17 - PRINTED BY: 92248ddb24ccbc6@placeholder.10274.edu....Ch. 17 - Three recent college graduates have formed a...Ch. 17 - The new director of special events at a large...Ch. 17 - Prob. 9PCh. 17 - The project described in the following table is...Ch. 17 - The following precedence diagram reflects three...Ch. 17 - A project manager has compiled a list of major...Ch. 17 - Here is a list of activity times for a project as...Ch. 17 - The project manager of a task force planning the...Ch. 17 - PRINTED BY: 92248ddb24ccbc6@placeholder.10274.edu....Ch. 17 - Chucks Custom Boats (CCB) builds luxury yachts to...Ch. 17 - Prob. 17PCh. 17 - Create a risk matrix in the style of Figure 17.13...Ch. 17 - Create a risk matrix for this project: Explain...Ch. 17 - B. Smitty Smith is a project manager for a large...
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- If the initial investment is $200,000 and cash flows are $20,000, $50,000, $80,000, and $100,000. What is the payback period of the project 3 years 6 months 3 Years Cannot be determined 2 years 6 monthsarrow_forwardThe following information has been computed from aproject:Expected total project time = T = 62 weeksProject variance (s2p ) = 81What is the probability that the project will be completed18 weeks before its expected completion date?arrow_forwardA project is scheduled to complete in six months duration. There are two activities in the project. The actual cost of Activity 1 is SAR 300,000 and that of Activity 2 is SAR 200,000. The planned value of these activities is SAR 280,000 and 150,000 respectively. On reviewing, the current project status is Activity 1 is 100% completed and Activity 2 is only 75% completed. (i) Perform the earned value calculations of the above project scenario and fill the given table. (ii) What do you infer about the project schedule and cost based on your calculations? Earned Value Planned Value Actual Cost Cost Variance Activity Scheduled Variance Cost performance Index Schedule performance Index Month 1arrow_forward
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