Practice Questions - Project Management Answers

Practice Questions - Project Management Answers - Practice...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Practice Questions: Project Management 1. Task Immediate Predecessor(s) Optimistic Most Likely Pessimistic μ σ 2 Cost to crash (in weeks) (in weeks) (per week) A - 1 5 6 4.50 0.69 $24,000 B - 4 5 6 5.00 0.11 $20,500 C A 5 7 9 7.00 0.44 $23,400 D A , B 4 8 9 7.50 0.69 $21,250 E B 2 3 4 3.00 0.11 $30,500 F C , D 2 5 5 4.50 0.25 $23,075 G D , E , H 1 2 6 2.50 0.69 $25,000 H - 6 9 9 8.50 0.25 $22,500 1) Which is the critical path in the above project? B-D-F 2) What is the late finish time of task G? week 17 3) What is the slack of task E? 6.5 weeks 4) What is the probability that this project will be completed within eighteen weeks? Pr{ T ≤ 18 } = Pr{ z ≤ 18 - μ Τ σ Τ } = Pr{ z ≤ 18 - 17 1.056 } = Pr{ z ≤ 0.973 } = 83.48% 5) What should be the bid date for this project, so that the probability it will be completed on time is at least 95%? Bid Date = μ T + (z (95%) × σ T ) = 17 + 1.645 × 1.056 = 18.7 weeks 19 weeks 6) If you had to crash this project by two weeks, which tasks would you crash each by only one week to minimize the crash cost and what would be the crash cost? Tasks D and F for $44,325 2.
Image of page 1

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

View Full Document Right Arrow Icon
Image of page 2
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