Question

1. Consider the simplified set of activities in Table 1 for the de velopment ofa consumer product from initiation through the market test phase. (a) Draw the AOA network for this project. (b) Calculate total slacks and free slacks, and interpret their meaning. (c) Determine the critical path and interpret its meaning. Table 1 Activity Symbol Preceding activities Time estimates Investigate demand Devel Design product Conduct promotional cost analvsis Manufacture Perform product cost analysis cing strate models Perform final pricing analysis Conduct market test B.D,F 2. For Question 1, consider the time estimates given in Table 2. Note that the time estimates in Question 1 are equivalent to most likely times in this exercise. (a) Assuming that the activity durations follow beta distributions, re-label your network in Question 1 to include d, (in place of d,) and s. Use equations: -b-, and 7-4 a 4m +b (b) Compare total slacks and free slacks to Question 1 if d, are used as the activity times. (c) Has the critical path changed? (d) Determine the probabilities that (1) The project is completed in 22 weeks or less. (2) The project is completed by its earliest expected completion date. (3) The project takes more than 30 weeks to complete. Table 2 Time Estimate (weeks) Most likel Activity timistic Pessimistic 12 10