InstructionJSU PRODUCTION/OPERATIONS MANAGEMENT, MNGT-353 EXAM 2 - Instructions These are the procedures to follow in order to solve the Exam 2 Network Problem using PERT/CPM analysis. 1. Using the “Master Table” page, Complete the list of the activities. 2. Complete the list of immediate predecessor(s) for each activity in the project on the “Master Table” page. 3. Using the “Time Calculation” page, Calculate the activity time, t, by using the formula below. Also, calculate the variance, σ2, for each activity on the “Time Calculation” page by using the formula listed below. 4. On a blank page, Draw a Project Network depicting the activities, the time of each activity, and the immediate predecessors listed in steps 1, 2 & 3 above. BE SURE TO USE A RULER OF STRAIGHT-EDGE TO DRAW THE NETWORK. 5. Use the project network and the activity time estimates to determine the Earliest Start (ES) and Earliest Finish (EF) time for each activity by making a Forward Pass through the network. Enter the values you calculate for each Earliest Start (ES) and each Earliest Finish (EF) into the “Master Table” and into each activity block on the “Project Network”. The Earliest Finish (EF) time for the last activity in the project identifies the total time required to complete the project (or the Project Time). 6. Use the “Path Calculation Table” to calculate the time for each path through the Project Network. 7. Use the project completion time calculated and identified in step 5 as the Latest Finish (LF) time for the last activity and make a Backward Pass through the network. This will identify the Latest Start (LS) and Latest Finish (LF) time for each activity. Enter the values for the Latest Finish (LF) and the Latest Start (LS) for each activity into the “Master Table” and the “Project Network”. 8. Use the difference between the Latest Start (LS) time and the Earliest Start (ES) time for each activity or the difference between the Latest Finish (LF) time and the Earliest Finish (EF) time for each activity to determine the slack for each activity. Enter the calculated value for the slack time of each activity into the “Master Table”. 9. Find the activities with zero slack; these are the critical activities (they lie on the critical path). These activities have the same value for the Earliest Start (ES) and Latest Start (LS). Additionally, they will have the same value for the Earliest Finish (EF) and Latest Finish (LF). In other words, the values on the top of the activity will be identical to the values on the bottom of the activity. Enter the value of the variance, σ2, for each activity WITH A ZERO SLACK in the column marked “CP Var” in the “Master Table”. 10. Total the values in the “CP Var” column in the “Master Table”. Calculate the square root of this value. This is the standard deviation, σ, of the project. Determine the probability the project will be completed within the specified time stated in the problem. Use the Z formula and the standard deviation to determine the probability the project will be completed on-time. Formulas: Standard Normal Distribution ( Z ): Where: X = Expected completion (from problem) µ = Calculated completion (from Master Table) σ = Calculated Standard Deviation Activity Expected Time Calculation Activity Variance