There are projects going on all around us everyday. Some are large and some are small. Projects are unique, it is one time operation designed to accomplish a set of objectives in a limited time frame. Example of projects includes designing new products or services, construction of shopping mall, merging two companies and designing and running a political campaign. They all involves tremendous amount of planning, preparation, and co-coordinating work that needs to be done. Projects may involve considerable costs. Some have a long time horizon, and some involves a large number of activities that must be carefully planned and coordinated. To accomplish this, goal must be established and priorities set. Task must be identified and time estimate made. Resource requirement must be projected and budget prepared. Progress must be monitored to assure that project goal and objective will be achieved.
In our case, we have building construction project. A farm owner is going to erect a maintenance building with a connecting electrical generator and water tank. The activities, activity descriptions, and estimated durations are given in the following table:
ActivityDescriptionActivity Predecessor Duration AExcavateNone2
EInstall maintenance EquipmentB4
FConnect generator and tank to buildingB, C, D5
ICheck out facilityE, F2
The building should be completed in no more than 16 weeks. He wonders what the probability of completing the project in that time is.
Before we start our analysis using certain tools, I will define some terms regarding the project.
Project management: a team-based approach for managing project. Nodes: junction points where arcs meets.
Arc: connects two nodes, precedence relation.
Critical: an activity or event that, if delayed, will delay some other important...