In the Excel Template file, conduct the following PM Analyses. Make sure to include the highlighted part in the Excel. You don’t need to include the analysis in your essay.

Define the project and all its significant activities or tasks.

Develop the relationships among the activities. Decide which activities can take place simultaneously, and which activities must precede others.

Draw the Diagram Network connecting all the activities.

Assign three time and cost estimates to each activity. For the estimation, you may rely on your previous experience or information on the Internet (make sure they are properly cited in your essay).

1. Calculate the expected value and variance of activity times.
2. Find the Critical Path using time slack
3. What is the budget plan for the project? Draw the budget cost table for both the earliest and latest times.

In the essay,

1. Briefly describe your chosen event.

Based on PM Analysis results, answer the following questions:

What is the expected project completion time? Is the time estimation subject to a lot of variations?

1. If you are more conservative, and you want to find out the due date by which the project can be completed with a probability of 95%, what will be the due date? Include the computation steps (either in Excel using Excel functions or in the essay if you do manual calculations). The z-score corresponding to 95% is 1.65.

What is the expected cost for the project? How to manage your cash flow?

What can be the bottlenecks of your project?

1. Under what circumstances, your project can be completed in a shorter time? What is the trade-off here (i.e., what additional resources you may need)? How to shorten the completion time in an optimal way? You don’t need to perform the crashing analysis. Please only discuss these questions and show your understanding.

Briefly discuss how can we use the PM analysis to plan, monitor, and control projects? The discussion is not limited to the PM analyses performed in the assignment. Feel free to include other techniques learned in class

Excel format: An Excel file that displays (clearly labeled)

1. A diagram Network with activity time t, ES, EF, LS, LF, and critical activities labeled.

A time estimation table listing activities, three time estimates, expected completion time, and competition time variance for each activity

A slack table listing activities, ES, EF, LS, LF, Slack, an indicator of whether on Critical Path or not.

A budget cost table listing activities, week index, total cost per week, total cost to date for both earliest and latest times.