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Time-Cost Trade-Off Dr. Denton Fender, a noted geologist has discovered a site that she believes...

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Accounting

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Time-Cost Trade-Off Dr. Denton Fender, a noted geologist has discovered a site that she believes may hold a large deposit of natural gas. To test for the possible presence of natural gas, she proposes to drill a test hole, set of small explosive charge, and use the resulting seismic pattern to indicate the likely presence or absence of natural gas. The process of testing a likely site has been divided into 8 tasks. Dr. Fender has estimated the times and costs of each task assuming normal conditions as well as the times and costs of each task assuming an expedited or crashed condition. This information is indicated in the table that follows: Immediate Predecessor Task A B D E F G H A B B CD E F,G Normal Time 7 10 12 6 9 9 14 10 Expedited Time 6 6 9 5 8 5 10 Normal Cost 200 600 625 700 200 400 1000 1000 Expedited Cost 400 1000 1000 800 500 840 1800 1460 Normal and expedited (crash) times are given in days. a. Determine project duration with normal times. b. Given the importance of new sources of natural gas, she wants to consider possible shorter scenarios; thus she should like you to reduce the project by 10 days. What tasks she has to expedite? What is the extra cost she has to incur

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