Auditing project with the activities


Problem: Given an auditing project with the following activities,

Activity     Standard deviation       Critical      Duration

a, add              2                           yes              2

b, balance        1                                              3

c, count           0                            yes              4

d, deduct         3                                               2

e, edit              1                           yes              1

f, finance         2                                               6

g, group           2                            yes             4

h, hold             0                            yes             2

Using the critical path, find:

(1) The probability of completing this project in 12 weeks (or less), as the client desires.

(2) The probability of completing this project in 13 weeks (or less).

(3) The probability of completing this project in 16 weeks (or less), the clients drop dead date.

(4) The number of weeks required to assure a 92.5 percent chance of completion, a guaranteed by the auditing firm. 

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Accounting Basics: Auditing project with the activities
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