Exam 15: Extension: Advanced Methods for Project Scheduling

Annie is planning a large surprise party for her sister Gwendolyn. She has developed the following plan, including estimates of the time (in hours) and cost necessary to perform each of the tasks required. Annie will save $40 for every hour she can reduce from her plan. Annie has decided to crash her project and use the money she saves to purchase a larger gift for Gwendolyn. Which task should she crash first?

Given the project data below, what is the expected length of path A, B, C?

A project manager has discovered that three tasks are on the critical path for a particular project. She has developed the time estimates (in days) shown in the table below. Complete the table and determine the expected completion time for the project.

An estimate of the duration of a task that is based on a weighted average of a range of possible task durations is known as:

A simple sequential project (each task must be completed before the next one can begin) has the time estimates (in days) shown below: What is the likelihood the project will be completed in 10 days?

Given the tasks, estimated durations, and crash costs shown below, what is the total cost of the steps needed to provide the cheapest way to reduce the project length by three days?

A project manager has discovered that three tasks are on the critical path for a particular project. She has developed the time estimates (in days) shown in the table below. Complete the table and determine the expected completion time for the project.

Given the project data below, what is the standard deviation of durations for path A, B, C?"

In evaluating time-cost trade-offs, we start by crashing the task on the critical path that:

Task X has a best-case duration of 4 days, a worst-case duration of 10 days, and a most likely duration of 6 days. Using this information, we can estimate a 50 percent probability that the task will be completed in no more than how many days?

Which of the following statements best describes "crash cost"?

A simple sequential project (each task must be completed before the next one can begin) has the time estimates (in days) shown below: What is the expected total time for the path?

If a project path has an expected duration of 10 days and a standard deviation of 3 days, what is the probability that the path will be completed in 10 days or less?

Which of the following statements is true regarding crash costs?

Annie is planning a large surprise party for her sister Gwendolyn. She has developed the following plan, including estimates of the time (in hours) and cost necessary to perform each of the tasks required. Annie turns her attention to crashing another task in her project. If she wants to benefit even more, what is the next task to crash?

Annie is planning a large surprise party for her sister Gwendolyn. She has developed the following plan, including estimates of the time (in hours) and cost necessary to perform each of the tasks required. What is the planned duration of the preparation for the surprise party, assuming the critical path is completed?

If a project path has an expected duration of 10 days and a standard deviation of 3 days, what is the probability that the path will be completed in 13 days or less?

A simple sequential project (each task must be completed before the next one can begin) has the time estimates (in days) shown below: What is the probability that the project shown in Exhibit 15S-5 will be completed within 8.5 days? (Choose the closest answer.)

Given the tasks, estimated durations, and crash costs shown below, if the benefit to crash the project by each day is a maximum of $750, how many days would it be worthwhile to crash the project?

Annie is planning a large surprise party for her sister Gwendolyn. She has developed the following plan, including estimates of the time (in hours) and cost necessary to perform each of the tasks required. If Annie crashes only the task identified in the previous problem, but crashes it to its minimum duration, how much will she save on the project?