Presentation on theme: "Example: Frank’s Fine Floats"— Presentation transcript:
1Example: Frank’s Fine Floats Frank’s Fine Floats is in the business of building elaborate parade floats. Frank and his crew have a new float to build and want to use PERT/CPM to help them manage the project.The table on the next slide shows the activities that comprise the project. Each activity’s estimated completion time (in days) and immediate predecessors are listed as well. Frank wants to know the total time to complete the project, which activities are critical, and the earliest and latest start and finish dates for each activity.
2Example: Frank’s Fine Floats Immediate CompletionActivity Description Predecessors Time (days)A Initial PaperworkB Build Body AC Build Frame AD Finish Body BE Finish Frame CF Final Paperwork B,CG Mount Body to Frame D,EH Install Skirt on Frame C
3Example: Frank’s Fine Floats Project NetworkBD33G6F3AStartFinish3E7CH22
5Example: Frank’s Fine Floats Determining the Critical PathA critical path is a path of activities, from the Start node to the Finish node, with 0 slack times.Critical Path: A – C – E – GThe project completion time equals the maximum of the activities’ earliest finish times.Project Completion Time: days
11Example: ABC Associates Probability that the project will be completed within 24 hrs:Variance= 4/ / /9= 2Standard Deviation=z = (24-23)/1.414 = .71From the Standard Normal Distribution table:P(z < .71) = =
12Example: EarthMover, Inc. EarthMover is a manufacturer of road constructionequipment including pavers, rollers, and graders. Thecompany is faced with a newproject, introducing a newline of loaders. What is the criticalPath?
13Example: EarthMover, Inc. Immediate CompletionActivity Description Predecessors Time (wks)A Study FeasibilityB Purchase Building AC Hire Project Leader AD Select Advertising Staff BE Purchase Materials BF Hire Manufacturing Staff B,CG Manufacture Prototype E,FH Produce First 50 Units GI Advertise Product D,G
14Example: EarthMover, Inc. PERT Network6846332610
16Problem Statement and Data (1 of 2) Example ProblemProblem Statement and Data (1 of 2)Given this network and the data on the following slide, determine the expected project completion time and variance, and the probability that the project will be completed in 28 days or less.
17Example ProblemProblem Statement and Data (2 of 2)
18Example Problem Solution (1 of 4) Step 1: Compute the expected activity times and variances.
19Example Problem Solution (2 of 4) Step 2: Determine the earliest and latest activity times & slacks