Key Equations

(11-1)

$t = \frac{a + 4 m + b}{6}$ $t = \frac{a + 4 m + b}{6}$

Expected activity completion time.
(11-2)

$Variance = {(\frac{b - a}{6})}^{2}$ $Variance = {(\frac{b - a}{6})}^{2}$

Variance of activity completion time.
(11-3)

$EF = ES + t$ $EF = ES + t$

Earliest finish time.
(11-4)

$LS = LF - t$ $LS = LF - t$

Latest start time.
(11-5)

$Slack = LS - ES o r Slack = LF - EF$ $Slack = LS - ES o r Slack = LF - EF$

Slack time in an activity.
(11-6)

$Project variance = \sum$ $Project variance = \sum$ variances of activities on critical path
(11-7)

$Z = \frac{Due date - Expected date of completion}{σ_{T}}$ $Z = \frac{Due date - Expected date of completion}{σ_{T}}$

Number of standard deviations the target date lies from the expected date, using the normal distribution.
(11-8) Value of work completed = (Percentage of work completed) × (Total activity budget)
(11-9) Activity difference = Actual cost - Value of work completed
(11-10)

$Crash cost/Time period = \frac{Crash cost - Normal cost}{Normal time - Crash time}$ $Crash cost/Time period = \frac{Crash cost - Normal cost}{Normal time - Crash time}$

The cost in CPM of reducing an activity’s length per time period.

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Table of Contents for Key Equations