Calculate the earliest start and finish times

Assignment Help Project Management

Reference no: EM13211070

1. Based on the data below:

(a) Draw a network diagram for the project, highlight the "normal" critical path

(b) Calculate the earliest start and finish times, the latest start and finish times and the slack days for each activity based on normal durations

(c) If indirect costs of £375 per day could be saved by reducing the overall duration of the project, what is the minimum cost for the project?

(d) What practical factors should be considered before an activity is crashed?

(e) Describe a practical approach to monitoring the progress of a project like this one.

Activity	Preceded by	Normal days	Crash days	Normal cost (£)	Crash Cost (£)
A	-	4	3	800	900
B	-	6	3	1000	1600
C	-	4	3	900	1200
D	A	5	3	700	1200
E	B,C	4	3	600	750
F	D,E	3	3	400	400
G	F	4	3	800	850
H	F	8	3	1200	3200
I	G,H	9	3	1200	3300
J	H	3	3	600	600
K	J	5	3	2000	2800
L	I,K	7	3	6500	5000

2. Based on the data below calculate the probability that the project will be completed in 20 days or less and discuss the practical considerations that would be relevant if a company doing this project faced a penalty for completion in more than 20 days. What action could be taken to improve the chances of completion within a 20 day period?

Activity	Preceded by	Optimistic days	Most likely days	Pessimistic days
A	-	2	3	4
B	-	4	6	8
C	A,B	6	9	12
D	A,B	4	5	12
E	C,D	3	5	7

Reference no: EM13211070

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