A project has an expected duration of 34 weeks with a critical path variance of 6.

A project has an expected duration of 34 weeks with a critical path
variance of 6. Suppose the project network is given and the critical
path is identified on the network. Suppose the normal time, crash time,
and the associated cost for each activity is given. You have been asked
by your supervisor to prepare a research paper that addresses the
follow criteria:

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  • What is the probability that the project will be completed in 32 weeks or less?
  • If the project is to be shortened by four days, list the
    process you would take to determine which activities, in order of
    reduction, would be shortened and the resulting cost.
  • Describe project cost and the requirements for its determination and application in a production facility.
  • Analyze implications of changes in the parameters of project timing and cost determination.
  • Evaluate application of project cost and timing concepts on a firm’s business operations.

Present your findings as a 3 page Word document formatted in APA style.

Using Earned Value to Determine Status
Jennifer turned in her status report for the newly approved mailing
activities. She feels that her pieces are on track with nothing for you
to worry about. She reports the following information for the critical
path tasks:
You review her status report and determine that Jennifer does not
have a solid grasp of her status. Ben was unable to provide you with
anything more than, “Things are moving along just fine.”

  • Using earned value measurements along with the other information and
    metrics available, determine the true status of Jennifer’s portion of
    the project.
  • Prepare an updated status report (1 page) for Jennifer and
    share the measurements and your rationale in your determination of the
    status for the project.
  • Create a 2-3 slide presentation explaining the benefits of using EVM.
  • Be sure to document some instructions (1-page document) for
    Jennifer and Ben for determining the project status for their next
    project update to you.
  • Also, provide materials that would be used to train Jennifer and Ben on the benefits and application of earned value.
  • The materials should include some guidelines for Jennifer and Ben to help them create and then interpret the metrics.

Please refer to the following multimedia course material(s):

  • Unit 5: Cost and Schedule Measures
  • Unit 5: Controlling a Project
  • Unit 5: Earned Value and Risk Management
  • Unit 5: Earned Value Analysis