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b’Further to Chris Tomassoxc2x92s 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’

b’nFurther to Chris Tomassoxe2x80x99s expression of surprises, the company has now decided to work on three timeestimates in lieu of the deterministic time estimates used before. The company is confident that while theMost Likely Time estimate for each activity will follow the current activity time presented in column #4 forthe same activity, the Optimistic Time estimate will be 20% lower than the Most Likely Time Estimate, andthe Pessimistic Time will be 50% more than the Most Likely Time Estimate. For instance, activity A thathas Most Likely Time estimate of 7 weeks will have an Optimistic Time estimate of 5.6 weeks (7 x 0.8 = 5.6weeks) 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 34weeks? ‘

 

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