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    Practice Problem: Chapter 3, Project Management

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    csandres
    1) The document contains 5 practice problems about project management including drawing a network diagram, finding critical paths, calculating variances and probabilities, and optimizing project schedules and costs. 2) The critical path for the network in Problem 2 is ACDE with a total variance of 2.44. 3) Crashing the D activity by 1 week for an additional cost of $75 is the best option to reduce the project completion time in Problem 5 by 1 week.

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    Practice Problem: Chapter 3, Project Management

    Uploaded by

    csandres
    63 views5 pages
    1) The document contains 5 practice problems about project management including drawing a network diagram, finding critical paths, calculating variances and probabilities, and optimizing project schedules and costs. 2) The critical path for the network in Problem 2 is ACDE with a total variance of 2.44. 3) Crashing the D activity by 1 week for an additional cost of $75 is the best option to reduce the project completion time in Problem 5 by 1 week.

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    1) The document contains 5 practice problems about project management including drawing a network diagram, finding critical paths, calculating variances and probabilities, and optimizing project schedules and costs. 2) The critical path for the network in Problem 2 is ACDE with a total variance of 2.44. 3) Crashing the D activity by 1 week for an additional cost of $75 is the best option to reduce the project completion time in Problem 5 by 1 week.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    63 views5 pages

    Practice Problem: Chapter 3, Project Management

    Uploaded by

    csandres
    1) The document contains 5 practice problems about project management including drawing a network diagram, finding critical paths, calculating variances and probabilities, and optimizing project schedules and costs. 2) The critical path for the network in Problem 2 is ACDE with a total variance of 2.44. 3) Crashing the D activity by 1 week for an additional cost of $75 is the best option to reduce the project completion time in Problem 5 by 1 week.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 5

    Practice Problem: Chapter 3, Project Management

    Problem 1:
    The following represent activities in a major construction project. Draw the network to
    represent this project.

    Activity Immediate Predecessor

    A -

    B -

    C A

    D B

    E B

    F C, E

    G D

    H F, G

    1
    Problem 2:
    Given the following Time Chart and Network Diagram, find the Critical Path.

    Activity a m b t Variance

    A 2 3 4 3 1/9

    B 1 2 3 2 1/9

    C 4 5 12 6 16/9

    D 1 3 5 3 4/9

    E 1 2 3 2 1/9

    Problem 3:
    What is the variance in completion time for the critical path found in Problem 2?

    Problem 4:
    A project has an expected completion time of 40 weeks and a standard deviation of 5
    weeks. It is assumed that the project completion time is normally distributed.
    (a) What is the probability of finishing the project in 50 weeks or less?
    (b) What is the probability of finishing the project in 38 weeks or less?
    (c) The due date for the project is set so that there is a 90% chance that the project will
    be finished by this date. What is the date?

    2
    Problem 5:
    Development of a new deluxe version of a particular software product is being
    considered. The activities necessary for the completion of this project are listed in the
    table below along with their costs and completion times in weeks.

    Activity Normal Crash Normal Crash Immediate


    Time Time Cost Cost Predecessor

    A 4 3 2,000 2,600 -

    B 2 1 2,200 2,800 A

    C 3 3 500 500 A

    D 8 4 2,300 2,600 A

    E 6 3 900 1,200 B, D

    F 3 2 3,000 4,200 C, E

    G 4 2 1,400 2,000 F

    (a) What is the project expected completion date?


    (b) What is the total cost required for completing this project on normal time?
    (c) If you wish to reduce the time required to complete this project by 1 week, which
    activity should be crashed, and how much will this increase the total cost?

    3
    ANSWERS:

    Problem 1:

    Problem 2:
    Critical path: ACDE = 14

    Problem 3:

    =
    variance
    Total variances of activities on critical path
    Total variance = 1/9 + 16/9 + 4/9 + 1/9 = 2 2/9 = 2.44
    And = 2.44 = 1.6

    4
    Problem 4:


    ===
    5X
    Z2
    5040
    (a)
    ==
    PP
    (X50)(Z2)0.97725
    Therefore:
    5
    ===
    Z0.4
    X2
    (b)
    ==
    P
    (X38)P(Z0.4)0.34458
    Therefore:
    (c) 90% Z = 1.28 = ( - ) / = 40 / 5

    =+=
    1.28*54046.4weeks
    Therefore:

    Problem 5:

    (a)

    Project completion time is therefore t A + t D + t E + t F + t G = 4 + 8 + 6 + 3 + 4 = 25


    (b) Total cost = $2, 000 + $2200 + $500 + $2,300 + $900 + $3, 000 + $1, 400 = $12,300
    $2, 600 - $2,300 $300
    (c) Crash D 1 week at an additional cost of = = $75
    8-4 4

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