Question

he he tolenwine table presents the aetivitiles of s small grojest and thetr tme The precedence relationships among the activities are also p Duration Activity Predecessor 2 4 C, D, E Draw the network of the project showing the activities and their time durations Note that this should be a AON network). a) Using the time durations for each activity, determine the critical path for the project network. b) decide whether on. She 52. The local operations manager for the Internal Revenue Service must to hire one, two, or three tempor easor ary tax examiners for the upcoming tax s estimates that net revenues (in thousands of dollars) vary with how well taxpayers comply with the new tax code just passed by Congress, as follows: Number O. Compliance Low 1 0 Examiners Normal High One Two Three 10 20 40 10 5 20 a) If she uses the maximin criterion, how many new examiners will she decide to b) If she uses the Laplace criterion, how many new examiners will she decide to e feels the chances of low and high compliance are 20%, and 50% hire? hire? respectively, what are the expected net revenues for the number of assistants she will decide to hire? lfshe feels the chances of low, medium, and high compliance are 10%, 40%, and 50% respectively, what is her expected value of perfect information?

Answer 1

Q51 : Below is the AON network for the project.

Early Start and Early Finish for a activity is calculated as follows. Early start is the earliest the activity can start. Early finish is determined by adding the duration of the activity to the early start time. Early Start of successor activities is the early finish of the predecessor activity. If there are more than one predecessor activity early start of the successor activity is the early finish of the predecessor activity which finishes the latest.

Once we calculate the early start and early finish of all the activities we can determine the time a project will take which will equal to the early finish of the last activity.

Late Start and Late Finish for a activity is calculated as follows. Late finish is the latest the activity can finish without delaying the project. Late start is determined by subtracting the duration of the activity to the late finish time. Late finish of predecessor activities is the late start of the successor activity. If there are more than one successor activity late finish of the predecessor activity is the late start of the successor activity which start the earliest.

Once the late start and late finish is calculated, we can calculate the slack for each activity and the critical path of the project. Slack is calculated as the difference between early start and late start or early finish and late finish of the particular activity. Slack is the amount of time an activity can be delayed without delaying the overall project. The critical path is the path traced by all those activities where slack is zero. In other words there can be no delay in any activities which make up the critical path without delaying the project.

Using the above logic, the early start (ES), early finish (EF), late start (LS), late finish (LF) are as shown in the below diagram.

ES Activity tS 9 D 11 LS Duration LF 10 2 12 12 F 16 12 4 16 9 E12 9 3 12 5 C 10 7 5 12

The above details are tabulated in the below table along with slack and the critical path

Critical path Yes Yes No No Yes Yes Slack LS EF ES DurationPredecessors Activit 4 12 10 10 12 12 16 12 16 12 C,D,E 4

Based on this we can now answer the question

The project will take 16 days. - This can be seen from the EF time of the last activity in the project

The critical path is A-B-E-F. This can be determined from the activities where slack is 0 and thus these activities cannot be delayed