Question.957 - The following table provides a description for the project Z. Activity Duration Predecessor Cost to crash by 1 day Max days to crash A 5 - $ 300 1 B 3 - $ 100 1 C 4 A $ 100 1 D 3 A $ 200 2 E 4 B $ 400 3 F 2 D, E $ 500 2 G 4 E $ 300 3 H 3 C $ 100 2 What is the critical path of this project? What is the duration of this project? (before crashing) If your task is to crash this project by 2 days, what is the most efficient cost of doing it? (Just input the number with no decimals or dollar signs) Suppose that the project duration that you have calculated in question 2 (before crashing) is the expected duration of the project. Its variance of the critical path is 4 days. The principal requires you to complete the project before the day 15. If you finish later, you will incur a fine. What is the probability of receiving a fine? Your manager wonders whether or not you should crash the project by 2 days. If you do, the variance of the project duration will remain the same. What is the probability that you will receive a fine? Based on your calculations in Q4 and Q5, would you recommend crashing the project?
Answer Below:
Module xxx exercise xxxxx PierreLouisWilliam xxxxxxxx University xxxxxxxx M xxxxxxxx College xx Business xxx Production xxx Operations xxxxxxxxxx Professor xxxxxxxx AwadMay xx Module xxx exercise xxxxxxxxxxx the xxxxxxxxxxxx and xxxxxxxxxx flow xx each xxxxxxxx which xxxx aid xx determining xxx critical xxxx of xxx project xxxxxxxx it xx important xx first xxxxxxxx the xxxxxxx path xxxx start xx end xxxxx the xxxxxxxx path xxxx consist xx activities xxxx encompass xxxx slack xxx potential xxxxx in xxx activities xx could xxxxxxx result xx delaying xxx entire xxxxxxx Considering xxx data xxxxxxxx for xxxxxxx Z xx the xxxxxx module xxx critical xxxx and xxx duration xxx Start xxxxx - xx A x gt x - xx H x gt xxx With xxx potential xxxxxxxx days xx order xx crash xxx project xx two xxxx it xx important xx mitigate xx optimized xxxx for xxxxxxxxx and xx evaluating xxx flow xx activities xxxxxxxxxxx the xxxxxxxx path xxxxxxx we xxx find x crashing xxxx and xxxxxx the xxxxx cost xxxxxxxx options xx the xxxxxxxx path xxxxxxxxxxx activity x which xxxxx be xxxxxxx by xxx day xx a xxxx of xxxxxxxxxxx activity x which xxxxx be xxxxxxx by xxx day xx a xxxx of xxxxxxxxxxx activity x which xxxxx be xxxxxxx by xxx day xx a xxxx of xx order xx achieve x -day xxxxxxxxx it xx optimized xx crash xxxxxxxxxx of x and x which xxxxx provide x desired xxxxxx of x total xxxx of xxxxxxx the xxxxxxx duration xxxxx to xx calculated xxx days xx the xxxxxx question xxx variation xxx the xxxxxxxx path xxxxx to xx four xxxx however xxx probability xxx be xxxxxxxxxx by xxxxxxxxx a xxxx if xxx project xx not xxxxxxxxx by xxx allocated xxxx frame xx days xxxxxxxx the x to xx the xxxxxx variable xxxxxxxxxxxx the xxxxxxx duration xxxxx follows x normal xxxxxxxxxxxx with x mean xx days xx addition xx a xxxxxxxx of xxxx In xxxxx to xxxx the xxxxxxxxxxx of xxxxxxxxx a xxxx we xxx employ x X xx utilizing xxx Z-score xxxxxxx we xxx standardize xxx variable x by x X x by xxxxx the xxxx as xxxx and xxxxx the xxxxxxxx deviation xxxxxxx - xxxxxxxx days xxx instance x Considering xxx Z-score xxxxxxxxxx we xxx mitigate xxx probability xx Z xxxxx less xxxx or xxxxx to xxxx is xxxxx the xxxxxxxxxxx of x being xxxxxxx than xxxxx is x X xx that xx subtracted xx gt xx resulting xx the xxxxxxxxxxx of xxxxxxxxx fine xx around xx a xxxxxxxx if xxx project xx crashed xx two xxxx there xx a xxxxxx possibility xx the xxxxxxx duration xxxxxxxxxx within xxx same xxxx days xx order xx evaluate xxx probability xx receiving x fine xx this xxxxxxxx we xxx repeat xxx calculation xxx with x duration xxxxxxxxxx of xxxx days xxxx wherein x gt xx - xxxxx the x score xxxxxxxxxx we xxx consider xxx probability xx Z xxxxx less xxxx or xxxxx to x which xx roughly xxxxxxx the xxxxxxx notion xx probability xx X x X xx gt xxxxx considering xxx calculation xxx probability xx receiving x fine xx the xxxxxxx is xxxxxxx by xxx days xx roughly xxxxxx Considering xxx evaluations xxxxxxxx from xxxxxxxxx and xxx scenario xx crashing xxx project xx days xxxx not xxxx a xxxxxxxxxxx impact xx the xxxxxxxxxxx of xxxxxxxxx a xxxx therefore xx may xxx be xxxxxxxxxxx to xxxxx the xxxxxxx as xxx cost xxxxxxxx does xxx provide x significant xxxxxxx in xxxxxxxx the xxxxMore Articles From Accounting
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