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Final Exam Questions

Order Description

1. For the network shown in the attached file, calculate the following:
a. Expected duration (µ)
b. Variance (sµ2 )
c. Standard Deviation (sµ)
d. Probability that the network can be completed in 50 days or less.
2. N/A
3. A project is in its 50th week and has an actual cost of \$300,000 for the work performed to date. The budgeted cost of that work is \$400,000. It expected to have completed \$500,000 worth of work by this time. The budget for the entire project is \$1,000,000. What is the:
a. CV
b. SV
c. CPI
d. EAC (provide two possible values. Show the formulas you use in calculating each)
4. You have prepared an initial estimate of \$2,000,000 to develop a software application for your organization. However, after you think about it a while, you vaguely remember from an old course you took at UMUC that estimates aren’t the same as reality. So, you do a bit more analysis and come up with the following table. How much reserve should you add to your initial estimate in order to have a 90% chance of success?

Activity Most Likely Optimistic Pessimistic
Labor \$1,000,000 \$800,000 \$1,500,000
Commercial SW and Licenses \$500,000 \$450,000 \$550,000
Subcontracts \$500,000 \$450,000 \$600,000

The estimates include all applicable burdens. All activities have assumed a triangular distribution. You may use any method you require, but show your work in an attachment.
5. You are preparing a project to lay fiber optic cable. The first task is to mobilize the team. You estimate this will take one week and cost \$3000. The second task is to lay the cable. This will take three weeks and will cost \$45,000. The total length of the cable is 15 miles. The last task, which will take one week, is to terminate and test the cable. You budget \$5000 for this. At the end of the first week, you have completed mobilization, but it cost a total of \$4500. At the end of the third week, you have completed five miles of cable at a total cost of \$28,000 (installation only). It takes you a total of 10 weeks to complete the entire project, for a total cost of \$65,000.
a. At the end of week 1: