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15. Answer the questions that follow based on the output below (note: times are in weeks). Project Management (Triple Time Estimate) Project Completion Time = StdDev of Completion Time = « to O O là khu C D F Task Description Optimistic Likely Pessimistic 1 5 1 3 2 5 11 4 7 16 8 10 12 4 5 6 3 3 3 Pred Pred Pred Pred Pred 2 3 4 5 Probability that completion is less than 27 Probability that completion is greater than 27 A A B C D H C 91.24% 8.76% Time Sid dev 0.67 1.50 3.00 8.50 2.00 3.00 11.00 0.67 11.00 21.00 0.33 11.00 16.00 0.00 21.00 24.00 3.00 5.50 8.00 10.00 5.00 3.00 24.00 2.21 Early Early Start Finish Late Start 0.00 3.00 Critical A Slack Path Task 0.00 YES 2.50 0.00 YES 0.00 YES Late Finish 0.00 3.00 5.50 11.00 3.00 11.00 11.00 21.00 19.00 24.00 8.00 21.00 24.00 0.00 YES 15a) What steps comprise the "critical path"? 15b) What is the minimum completion time in weeks? 15c) What is the probability of completing the project in less than 27 weeks? 15d) If TASK C can be completed in half the time for a small fee, would it be worthwhile to pay for it? CD С F

15. Answer the questions that follow based on the output below (note: times are in weeks). Project Management (Triple Time Estimate) Project Completion Time = StdDev of Completion Time = « to O O là khu C D F Task Description Optimistic Likely Pessimistic 1 5 1 3 2 5 11 4 7 16 8 10 12 4 5 6 3 3 3 Pred Pred Pred Pred Pred 2 3 4 5 Probability that completion is less than 27 Probability that completion is greater than 27 A A B C D H C 91.24% 8.76% Time Sid dev 0.67 1.50 3.00 8.50 2.00 3.00 11.00 0.67 11.00 21.00 0.33 11.00 16.00 0.00 21.00 24.00 3.00 5.50 8.00 10.00 5.00 3.00 24.00 2.21 Early Early Start Finish Late Start 0.00 3.00 Critical A Slack Path Task 0.00 YES 2.50 0.00 YES 0.00 YES Late Finish 0.00 3.00 5.50 11.00 3.00 11.00 11.00 21.00 19.00 24.00 8.00 21.00 24.00 0.00 YES 15a) What steps comprise the "critical path"? 15b) What is the minimum completion time in weeks? 15c) What is the probability of completing the project in less than 27 weeks? 15d) If TASK C can be completed in half the time for a small fee, would it be worthwhile to pay for it? CD С F

Practical Management Science
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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C 15. Answer the questions that follow based on the output below (note: times are in weeks). Project Management (Triple Time Estimate) Project Completion Time = StdDev of Completion Time - ! 1 O A B C D A E 1 F 기 option Task Description Probability that completion is less than Probability that completion is greater than N Në 15a) What steps comprise the "critical path"? 15b) What is the minimum completion time in weeks? 2 > W S Pred Pred Pred Pred Pred Optimistic Likely Pessimistic 1 2 3 4 5 3 # 3 X 1 2 15c) What is the probability of completing the project in less than 27 weeks? 15d) If TASK C can be completed in half the time for a small fee, would it be worthwhile to pay for it? 16. After initial training, it takes an average 8 hours for a worker to assemble his 1st Whizbang computer by hand. Use the Excel file on Learning Curves to answer the following: H 4 8 4 3 command Q 16a) With a 70% learning curve, how many hours should it take the worker to assemble the 3rd computer? 16b) How many computers can the worker expect to finish assembling in his first 40-hr work week? 16c) If the worker is paid $10/hour, how much in dollars will he have earned after assembling 50 computers? E 5 7 10 5 3 D $ 4 5 11 C 16 12 6 3 R F 27 ==> 27 A A B C C D 27 2 % V 91.24% 8.76% T G ^ 6 B Y & 7 H 0.00 3.00 Time Std dev 3.00 0.67 5.50 1.50 3.00 8.50 8.00 2.00 3.00 11.00 10.00 0.67 11.00 21.00 5.00 0.33 11.00 16.00 0.00 21.00 24.00 3.00 Blackboard Learn U N * 00 * Early Early Start Finish 8 1 M ( 9 J K ( O 0 < I 24.00 2.21 Late Critical Late Start Finish Slack Path Task 0.00 3.00 0.00 YES A 5.50 11.00 2.50 3.00 11.00 0.00 YES YES C 11.00 21.00 0.00 YES D 19.00 24.00 8.00 21.00 24.00 0.00 YES F ) 0 L command B https://learn-us-east-1-prod-fleet01-x P > I' . : ; I { [ option = ? O 11 1 I } 1 d
Transcribed Image Text:C 15. Answer the questions that follow based on the output below (note: times are in weeks). Project Management (Triple Time Estimate) Project Completion Time = StdDev of Completion Time - ! 1 O A B C D A E 1 F 기 option Task Description Probability that completion is less than Probability that completion is greater than N Në 15a) What steps comprise the "critical path"? 15b) What is the minimum completion time in weeks? 2 > W S Pred Pred Pred Pred Pred Optimistic Likely Pessimistic 1 2 3 4 5 3 # 3 X 1 2 15c) What is the probability of completing the project in less than 27 weeks? 15d) If TASK C can be completed in half the time for a small fee, would it be worthwhile to pay for it? 16. After initial training, it takes an average 8 hours for a worker to assemble his 1st Whizbang computer by hand. Use the Excel file on Learning Curves to answer the following: H 4 8 4 3 command Q 16a) With a 70% learning curve, how many hours should it take the worker to assemble the 3rd computer? 16b) How many computers can the worker expect to finish assembling in his first 40-hr work week? 16c) If the worker is paid $10/hour, how much in dollars will he have earned after assembling 50 computers? E 5 7 10 5 3 D $ 4 5 11 C 16 12 6 3 R F 27 ==> 27 A A B C C D 27 2 % V 91.24% 8.76% T G ^ 6 B Y & 7 H 0.00 3.00 Time Std dev 3.00 0.67 5.50 1.50 3.00 8.50 8.00 2.00 3.00 11.00 10.00 0.67 11.00 21.00 5.00 0.33 11.00 16.00 0.00 21.00 24.00 3.00 Blackboard Learn U N * 00 * Early Early Start Finish 8 1 M ( 9 J K ( O 0 < I 24.00 2.21 Late Critical Late Start Finish Slack Path Task 0.00 3.00 0.00 YES A 5.50 11.00 2.50 3.00 11.00 0.00 YES YES C 11.00 21.00 0.00 YES D 19.00 24.00 8.00 21.00 24.00 0.00 YES F ) 0 L command B https://learn-us-east-1-prod-fleet01-x P > I' . : ; I { [ option = ? O 11 1 I } 1 d
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