Assignment 5 Project Schedule Pt. 2–Project Duration with PERT

13078Instructions
Assignment Instructions

PERT analysis is nearly indistinguishable from CPM (The Critical Path Method). The difference is that PERT uses a special weighted average of three-point estimates for each activity. This resulting calculated averages may be used to calculate the probability of achieving a schedule target date.

Complete the following activities for Assignment 5.

1. Refer to the activity list and network diagram completed in assignment 4

2. Change each activity duration and replace with the weighted average of three point estimates for each activity. Recall that the 3 point estimate includes the optimistic, most likely, and pessimistic estimates of each activity duration.

3. Recreate the network diagram using the weighted average durations created in step two.

4. Conduct the forward and backward pass to confirm the critical path using the PERT estimates.

5. Calculate the project standard deviation.

6. Calculate the 95% probability schedule date for your project.

7. Submit your PERT network diagram and calculations for grading. Show all work.