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

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Case Study 2.2 Helping the Moores Lisa M Iodice QSO 600, Dr. Monahan
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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
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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.
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