Program Evaluation Review Estimate (PERT) to compute the statistical time for each activity

Mike was hired as a project manager to install hardwood floors for the company Awesome Floor and Tile. They will be installing new flooring into a local office building. Mike comes up with the list of work and estimates the time. A list of activities and their optimistic completion time, the most likely completion time, and the pessimistic completion time (all in days) are estimated in a given table.

Following are the activities that are required to install the hardwood floor in the offices:

Activity 1: Measure office room dimensions

Activity 2: Estimate cost

Activity 3: Material requisition

Activity 4: Workforce requisition

Activity 5: Special tool requisition

Activity 6: Installation

Activity 7: Inspection and customer acceptance

Activity 2 starts immediately after

Activity 1. Activity 3, Activity 4, and Activity 5 start concurrently after Activity 2.

Activity 6 does not start until after

Activity 3, Activity 4, and Activity 5 are completed.

The carpet installation project is complete after Activity 7 is completed.

Your assignment is to write a report that addresses the following:

If OT = Optimistic Time, MT = Most Likely Time, and PT = Pessimistic Time, use a Program Evaluation Review Estimate (PERT) to compute the statistical time for each activity, as in the following table:
Activities OT MT PT Activity 1 2 3 4

Activity 2 3 6 9

Activity 3 4 8 12

Activity 4 6 8 10

Activity 5 8 10 12

Activity 6 10 14 18

Activity 7 4 6 8

You must also do the following:

Determine and explain the expected completion time and the variance for each activity.

Determine and explain the total project completion time and the critical path for the project.

Determine and explain Early Start (ES), Early Finish (EF), Late Start (LS), and slack for each activity.

What is the probability that this project will be finished in 40 days or less? Explain.
Define how to gather the project requirements.

Analyze whether there are any potential changes that could impact overall project schedule and project finishing time.

Explain the best methods for managing the change requests and what kind of process this project should involve. Analyze implications of changes in project scheduling.

Explain the best methods for managing the change requests and what kind of process this project should involve. Evaluate applications of project management techniques in terms of the firm’s business operational goals and requirements.