Further to Chris Tomasso’s expression of surprises, the company has now decided to work on three time estimates in lieu of the deterministic time estimates used before. The company is confident that w.
Further to Chris Tomasso’s expression of surprises, the company has now decided to work on three time
estimates in lieu of the deterministic time estimates used before. The company is confident that while the
Most Likely Time estimate for each activity will follow the current activity time presented in column #4 for
the same activity, the Optimistic Time estimate will be 20% lower than the Most Likely Time Estimate, and
the Pessimistic Time will be 50% more than the Most Likely Time Estimate. For instance, activity A that
has Most Likely Time estimate of 7 weeks will have an Optimistic Time estimate of 5.6 weeks (7 x 0.8 = 5.6
weeks) and Pessimistic Time estimate of (7 X 1.5 =10.5 weeks). Complete an appropriate chart to show the
(a) critical path, (b) project completion time, (c) probability that project will be completed in less than 34
weeks?
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