The project will finish later than expected

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Reference no: EM132241547

Fred Johns is the manager of a construction project of a new hotel in Mississauga. Fred is concerned that there will be delays in the project. Based on his PERT calculation the estimated earliest completion time is 55.5 months with a variance of 3.92 months. Help Fred to calculate the following probabilities, show all your work.

(a) What is the probability that the project will finish later than expected?

(b) What is the probability that the project will last at least 5% longer than expected?

Reference no: EM132241547

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