Consider the following table of activities, completion times and predecessors
|
Activity
|
Optimistic
|
Most Likely
|
Pessimistic
|
Predecessor
|
|
A
|
5
|
5
|
11
|
|
|
B
|
6
|
9
|
12
|
|
|
C
|
2
|
3
|
4
|
|
|
D
|
3
|
6
|
9
|
A
|
|
E
|
3
|
4
|
5
|
B,C
|
|
F
|
6
|
9
|
12
|
B
|
|
G
|
9
|
13
|
17
|
D,F
|
|
H
|
4
|
7
|
10
|
E
|
|
I
|
7
|
9
|
17
|
E
|
|
J
|
2
|
3
|
10
|
G
|
|
K
|
10
|
15
|
20
|
G
|
|
L
|
5
|
7
|
9
|
I,K
|
|
M
|
6
|
6
|
12
|
H,I
|
|
N
|
6
|
10
|
14
|
H,I
|
|
O
|
4
|
8
|
12
|
L,M,N
|
|
P
|
8
|
12
|
16
|
J,K
|
|
Q
|
14
|
18
|
28
|
O,P
|
|
R
|
10
|
13
|
22
|
Q
|
- Determine the expected completion time for each activity.
- Draw the network diagram for this project.
- Determine the expected completion time for this project, in days.
- Which activities are on the critical path?
- Which activities have slack? How much slack do these activities have?
A project to build a new bridge seems to be going very well since the project is well ahead of schedule and costs seem to be running very low. A major milestone has been reached where the first two activities have been totally completed and the third activity is 60% complete. The planners were only expecting to be 50% through the third activity at this time. The first activity involves prepping the site for the bridge. It was expected to cost $1420000 and it was done for only $1300000. The second activity was the pouring of the concrete. This was expected to cost $10500000 but was actually done for $9000000. The third and final activity is the actual construction of the bridge superstructure. This was expected to cost a total of $8500000. To date they have spent $5000000 on the superstructure. Calculate the cost and schedule variance and the schedule and cost performance indexes for the project.
Extra Credit
- Suppose you have a performance clause in your contract that says that you must complete the project within 96 days or incur a severe penalty. What is the probability that you will complete the project within 96 days?