Name ______

BA 352: Project Management, Take Home Review Exam

Due: 4/24/18 at noon.

Act / I.P. / Ti(m)e / Slack / a / b / µ / σ
A / --- / 10
B / --- / 7
C / A / 12
D / B / 9
E / B / 12
F / B / 18
G / D / 3
H / E, F / 6
I / C, G / 10
J / G / 8

1)Draw the CPM network by hand and find critical path, completion time and slack times. Attach the picture to this page with the critical path listed and the completion time clearly indicated. Fill in the slack times in the fourth column above.

2)Draw theGantt chart of this project using Microsoft Project, assuming the project will start on Wednesday 4/25/18. On what date is the project scheduled to be completed? ______Highlight the critical path in the Gantt chart and print it (preferably in color) so that the Gantt chart looks professional and attach it.

3)Calculate the optimistic times (a) and the pessimistic times (b) assuming the optimistic times are half the regular completion times and the pessimistic times are double the regular completion times.

4)Calculate the mean times (µ) and standard deviations (σ) using µ =(a+4m+b)/6 and σ = (b-a)/6

5)Re-solve the network using the average times (column µ). What is the new completion time? ______How much longer is the new time compared to 1)?______

6)Usingtraditional PERT – only use the critical path, assume the whole project is normal with mean = your first answer to 5) and standard deviation = the square root of the squares of the standard deviations on the critical path – estimate:

  1. The probability the projectwill be early, completedin 26 days or less ______
  2. The probability the project will belate, completed in 36 days or more ______
  3. When the project will be done with 95% certainty ______