Explain Slack and Project Duration
The following project is to be scheduled using the expected times found using the approximation to the beta distribution. All duration estimates are in weeks:
Activity a m B Predecessors
A 2 5 8 -
B 4 10 22 A
C 1 4 16 B
D 4 6 8 A
E 4 6 11 A
F 1 2 6 E
G 3 4 17 D,E
H 1 2 3 C,F,G
A- Find the early start and late start schedule for each activity as well as its total and free slack.
B- What is the critical path duration? What is the variance for the critical path? What is the probability that the project will be completed in 24 weeks?
C- Using evidence from this specific project, explain if the estimate found in (B) is optimistic, and why, or why not?