Time-cost-tradeoff-Example.docx - Example Table 1 Q 1...

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Example Table 1 Q 1: Construct the project network (activity-on-node diagram). List all the paths of the project network 1
Q 2: If we ignore the uncertainty in the duration of the tasks, what is the completion time for this project? (Use the most likely time estimates for your calculations). Identify the critical and non-critical tasks. Task Time Earliest Start Time Earliest Finish Time Latest Start Time Latest Finish Time Float A 3 B 7 C 6 D 7 E 9 F 5 G 6 H 4 I 2 J 4 K 3 2
Table 2: The expected time of the tasks and their variance is computed using the formulas below and are shown in the table as follows: Expected Time = (Most Optimistic Time + 4* Most Likely Time + Most Pessimistic Time)/6 Variance = (Most Pessimistic Time - Most Optimistic Time) 2 /36 Task Most Optimistic Time Most Likely Time Most Pessimistic Time Expected Time Variance A 2 3 4 3.00 0.11 B 4 7 10 7.00 1.00 C 5 6 9 6.33 0.44 D 6 7 16 8.33 2.78 E 7 9 10 8.83 0.25 F 4 5 6 5.00 0.11 G 3 6 10 6.17 1.36 H 2 4 7 4.17 0.69 I 2 2 2 2.00 0.00 J 3 4 14 5.50 3.36 K 2 3 4 3.00 0.11 TOTAL = 59.33

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