Iodice QSO 600 Case Study 2.2 - Case Study 2.2 Helping the...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Case Study 2.2 Helping the Moores Lisa M Iodice QSO 600, Dr. Monahan
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Case Study 2.2 Lisa M Iodice QSO 600 1. Develop a CPM/PERT network for Moore house Contractors and determine the probability that the contractors can complete a house within 45 days. Does it appear that the Moores might need to increase their bid to compensate for potential penalties? Below is the CPM/PERT Network: Below is a table showing the various activities, times and variances: Page 2 of 4
Image of page 2
Case Study 2.2 Lisa M Iodice QSO 600 Looking at the above data, the critical path would be A-B-E-G-K-M-Q-T-V-W . By adding together the time needed for these activites, the expected duration of the project is slightly over 45 days (45.83), with a standard deviation of 2.41 days. This also gives us a z-value of -0.3458 ([45-45.83]/2.41). Using the NORM.S.DIST function of Excel, this gives us a probability for completion of the project withn the required 45 days of only 36.47%. Personally I would not be comfortable with such a low probability and feel that Moore House Contractors should increase their bid to cover any potential penalties.
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern