Question

You have recently been hired to help with planning for a music festival in Sydney, Australia planned for late December 2020.A H Start F End B (a) Develop the project schedule (EST/EFT/LST/LFT) and calculate the slack for each activity. You must pres(c) What is the projects expected completion time and variance given this new information about uncertainty in duration of s

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Answer #1

(a)

Draw the table listing ES, LS, EF, LF and Slack time of each activity Earliest Start (ES) is calculated by forward pass metho

.

(b)

Critical path is the longest path in the network. All the activities on critical path have 0 slack.

Critical path is:  A-D-F-H

Project length = Length of critical path = 5+6+3+8 = 22 weeks

.

(c)

For each activity, calculate the expected time, te =(optimistic + 4 * most likely + pessimistic)/6

Variance = (pessimistic - Optimistic)2/36

Activity Predecessor Optimistic Most likely Pessimistic Expected Time, te Variance (σ2)
A 3 5 7 5 0.44
B 3 3 3 3 0
C A 7 7 7 7 0
D A 2 6 10 6 1.78
E B 4 7 10 7 1
F D 1 3 5 3 0.44
G D,E 10 10 10 10 0
H C,F 8 8 8 8 0

We see that expected time remain same as deterministic time.

Project's expected completion time = 5+6+3+8 = 22

Critical path remains same, i.e. A-D-F-H

Project variance = SUM of variances of critical activities

= 0.44+1.78+0.44+0

= 2.67

.

Standard deviation = square root of variance

= sqrt(2.67)

= 1.63

Deadline = 25 weeks

z value = (25-22)/1.63

= 1.84

P(z) = NORMSDIST(1.84)

= 0.97

Probability of team failing to meet the deadline = 1 - P(z)

= 1 - 0.97

= 0.03

or, 3 %

.

(e)

For 90%, z value = NORMSINV(0.90)

= 1.28

Completion time = 22 + 1.28*1.63

= 24 weeks

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