Critical Path Variance-Evaluate Project Cost
Scenario 5-435-1
A project has an expected duration of 34 weeks with a critical path variance of 6. Suppose the project network is given and the critical path is identified on the network. Suppose the normal time, crash time, and the associated cost for each activity is given. You have been asked by your supervisor to prepare a research paper that addresses the follow criteria:
• What is the probability that the project will be completed in 32 weeks or less?
• If the project is to be shortened by four days, list the process you would take to determine which activities, in order of reduction, would be shortened and the resulting cost.
• Describe project cost and the requirements for it's determination and application in a production facility.
• Analyze implications of changes in the parameters of project timing and cost determination.
• Evaluate application of project cost and timing concepts on a firm's business operations.
Present your findings as a 1-2 page Word document formatted in APA style.
Submitting your assignment in APA format means, at a minimum, you will need the following:
1. TITLE PAGE. Remember the Running head: AND TITLE IN ALL CAPITALS
2. ABSTRACT. A summary of your paper...not an introduction. Begin writing in third person voice.
3. BODY. The body of your paper begins on the page following the title page and abstract page and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). The type face should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics except as required for APA level headings and references. The deliverable length of the body of your paper for this assignment is 1-2 pages. In-body academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
4. REFERENCE PAGE. References that align with your in-body academic sources are listed on the final page of your paper. The references must be in APA format using appropriate spacing, hang indention, italics, and upper and lower case usage as appropriate for the type of resource used. Remember, the Reference Page is not a bibliography but a further listing of the abbreviated in-body citations used in the paper. Every referenced item must have a corresponding in-body citation.