What is the project variance and project standard deviation

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Reference no: EM132913930

Probabilistic Activity Times

zInfinity (aka Zinfinity) is a new-age space exploration company with a mission to commercially exploit the near-Earth objects in the outer space. It is building reusable rockets and space equipment that can be used to mine asteroids and comets in the solar system and bring back the precious metals and minerals to the Earth to make profit. Thanks to Swikileaks, we got hold of some confidential information about zInfinity's next secret project. While the details of individual activities are not available, we know that the project has 12 key activities. Each activity involves uncertainty, but the engineers at zInfinity have calculated most optimistic, most pessimistic and most likely time for each activity. We also know the relationships among these activities. Even with this limited information, we want to find out about the completion time and various probabilities associated with this project. See the work breakdown structure (in Weeks) and network diagram given below.

WBS IN WEEKS

ActivityID	Predecessor	Optimistic Time(a)	MostProbable Time(m)	Pessimistic Time(b)
A	None	1	2	3
B	A	1	3	5
C	A	3	4	5
D	A	1	4	7
E	B,D	3	4	11
F	C	1	2	3
G	E,F	4	6	8
H	C	2	3	4
I	G	2	4	6
J	H	1	2	3
K	H	3	4	5
L	I,J,K	2	3	4

NETWORK DIAGRAM

Short Case Report Requirements:

Based on the information given above, prepare a Short Case Report that address the followings:

1. What are the expected time and variance for each of the 12 activities?

2. Which activities are critical and what is the critical path? What is the total project completion time?

3. What is the project variance and project standard deviation?

4. What is the probability that zInfinity will be able to complete the project in 30 weeks?

5. What is the probability that zInfinity will be able to complete the project in 20 weeks?

6. What is the probability that the project will take between 20 and 30 weeks?

7. What is the probability that the project will take longer than 25 weeks?

8. What is the completion time by which there is 99% certainty that the project is completed?

9. What is the completion time by which there is 90% certainty that the project is completed?

10. What is the completion time by which there is 75% certainty that the project is completed?

Attachment:- Probabilistic Activity Times.rar

Reference no: EM132913930

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