Explain the expected completion time

Assignment Help Accounting Basics

Reference no: EM132601457

Mike was hired as a project manager to install hardwood floors for the company Awesome Floor and Tile. They will be installing new flooring into a local office building. Mike comes up with the list of work and estimates the time. A list of activities and their optimistic completion time, the most likely completion time, and the pessimistic completion time (all in days) are estimated in a given table.

Following are the activities that are required to install the hardwood floor in the offices:

Activity 1: Measure office room dimensions
Activity 2: Estimate cost
Activity 3: Material requisition
Activity 4: Workforce requisition
Activity 5: Special tool requisition
Activity 6: Installation
Activity 7: Inspection and customer acceptance

Activity 2 starts immediately after Activity 1.
Activity 3, Activity 4, and Activity 5 start concurrently after Activity 2.
Activity 6 does not start until after Activity 3, Activity 4, and Activity 5 are completed.
The carpet installation project is complete after Activity 7 is completed.

Your assignment is to write a report that addresses the following:

If OT = Optimistic Time, MT = Most Likely Time, and PT = Pessimistic Time, use a Program Evaluation Review Estimate (PERT) to compute the statistical time for each activity, as in the following table:

Activities OT MT PT

Activity 1 2 3 4

Activity 2 3 6 9

Activity 3 4 8 12

Activity 4 6 8 10

Activity 5 8 10 12

Activity 6 10 14 18

Activity 7 4 6 8

You must also do the following:

Question 1: Determine and explain the expected completion time and the variance for each activity.

Question 2: Determine and explain the total project completion time and the critical path for the project.

Question 3: Determine and explain Early Start (ES), Early Finish (EF), Late Start (LS), and slack for each activity.

Question 4: What is the probability that this project will be finished in 40 days or less? Explain.

Question 5: Define how to gather the project requirements.

Question 6: Analyze whether there are any potential changes that could impact overall project schedule and project finishing time.

Question 7: Explain the best methods for managing the change requests and what kind of process this project should involve.

Question 8: Analyze implications of changes in project scheduling.

Question 9: Explain the best methods for managing the change requests and what kind of process this project should involve.

Question 10: Evaluate applications of project management techniques in terms of the firm's business operational goals and requirements.

Reference no: EM132601457

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