Given a Project with the following information: Activity Standard Deviation Critical Path Duration
a 2 yes 2
b 1 3
c 1 yes 4
d 3 2
e 1 yes 1
f 2 6
g 2 yes 4
h 1 yes 4
Find:
1. Critical Path
2. Number of Weeks project duration
3. The probability of completing this project in 11 weeks (or less)
4. The probability of completing this project in 14 weeks (or less)
5. The number of weeks required to assure a 96.5% chance of completion
6. If you will receive a bonus of $100,000 if this project is completed within 13 weeks and be fined a penalty of $50,000 if the project takes longer than 17 weeks should you bid the job? Please show quantitative support for your answer.