What is the standard deviation of the critical path

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Reference no: EM133518005

Planning and Control Assignment

Project to Arrange for Conference

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	Schedule mode*	Best case	Most typical case	Worst case	Expected duration	Standard deviation
ID speaker topics	ASAP	1	3	5
Contact speakers	ASAP	8	9	12
Select hotel	ASAP	4	5	7
Arrange hotel accommodations	ASAP	2	4	4
Arrange catering	ASAP	4	5	7
Develop brochure	ASAP	7	9	12
Print and mail brochure	ASAP	4	8	8
Develop exhibit material	ASAP	10	12	15
Develop workbook	ASAP	4	5	7
Print and bind workbook	ASAP	3	5	6
Final set-up for conference	ALAP	2	3	5
ASAP = schedule task as soon as possible* ; ALAP = schedule task as late as possible; Unit= Days

Question 1. The table for this assignment provides best case, most typical case, and worse case estimates of task duration for each task. Using the PERT Beta distribution formulas, compute the expected time for achieving each task and its standard deviation.

Question 2. How long will the project take to carry out?

Question 3. What is the standard deviation of the critical path?

Question 4. What is project duration when 1σ (standard deviation) is added? 2σ? (Note that when dealing with normal distributions, about 68% of observations lie within ±1 σ and about 95% of observations lie within ±2σ. We do not have a normal distribution in this case. We are working with a PERT Beta distribution that is not fully symmetric. Still, using an assumption of normality, we can get a very rough sense of the probability that a project will slip its schedule by 1σ or 2σ.)

Question 5. Identify latest start, earliest start, and float times for each of the tasks in this project.

	Expected duration	Latest Start	Earliest Start	Float
ID speaker topics
Contact speakers
Select hotel
Arrange hotel accommodations
Arrange catering
Develop brochure
Print and mail brochure
Develop exhibit material
Develop workbook
Print and bind workbook
Final set-up for conference

Question 6. An opportunity arises to have "Develop workbook" and "Print workbook" carried out earlier, in parallel to the other tasks. "Develop workbook" can begin as soon as "ID speaker topics" is complete. Reconfigure the PERT/CPM network to reflect this change in work. How much time has been saved on the project?

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Normal Distribution

Reference no: EM133518005

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