25 May Question 126) An IT project requires 6 activities. The table below dis
Question
126) An IT project requires 6 activities. The table below displays the expected time and budgeted cost for each activity.
| Activity | Expected time (weeks) | Budgeted
Cost |
Immediate Predecessors |
| A | 3 | $2,000 | None |
| B | 4 | $6,000 | None |
| C | 2 | $7,000 | A |
| D | 5 | $9,000 | B |
| E | 3 | $3,000 | C |
| F | 6 | $8,000 | B,D |
Develop a budget for the 15 weeks of the project using ES times.
127) An IT project requires 6 activities. The table below displays the expected time and budgeted cost for each activity.
| Activity | Expected time (weeks) | Budgeted Cost | Immediate Predecessors |
| A | 3 | $2,000 | None |
| B | 4 | $6,000 | None |
| C | 2 | $7,000 | A |
| D | 5 | $9,000 | B |
| E | 3 | $3,000 | C |
| F | 6 | $8,000 | B,D |
Develop a budget for the 15 weeks of the project using LS times.
128) Activity C of a project has a budgeted cost of $40,000 and is 20% complete. The actual cost is $10,000.
(a) What is the value of work completed?
(b) What is the activity difference?
129) Development of a new deluxe version of a particular software product is being considered. The activities necessary for the completion of this are listed in the table below (Time in weeks).
| Activity | Immediate
Predecessor |
a | m | b |
| A | — | 2 | 5 | 8 |
| B | A | 3 | 6 | 9 |
| C | A | 4 | 7 | 10 |
| D | B | 2 | 5 | 14 |
| E | D | 3 | 3 | 3 |
| F | C | 6 | 8 | 10 |
| G | E, F | 1 | 1 | 1 |
| H | C | 6 | 10 | 14 |
| I | G, H | 3 | 4 | 5 |
(a) If you wish to reduce the time required to complete this project by two weeks, which activity(ies) should be crashed, and how much will this increase the total cost?
(b) What would be the added cost if you wanted to complete the project in the minimum time possible?
130) PERT is the acronym for what?
131) In a PERT analysis, how is the optimistic time defined?
132) CPM is the acronym for what?
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