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be 250days with the total cost for the project being only $1,265,556.20 and an estimation of an increase in the total revenue for the company of between 10-12%.
In this memo find attached Gantt chart with a time-line for the completion of the project and the critical path. From the attachment, you will also find our estimated activities with the greatest slack while at the same time a description of the sensitivity network with the points with the milestones and a comparison and contrast of Gantt chart versus a network diagram and a comparison with a schedule table.
From the critical path analysis of our diagram, it is evident that the activities falling on the critical path include the Market analysis, Product design, Product design selection and Detailed Product design. Additionally, the other activities will include Test prototypes, the Finalized Product design, the Order production equipment and lastly celebrate.
Sensitivity has been defined as the likelihood of the critical path remaining stable during the project completion. Network sensitivity is determined by both the amount of slack non-critical activities and the number of different critical paths. From our analysis, it is evident that the network is not very sensitive since there is only one critical path with the free slack ranging from 20 days to 159 days.
The different milestones of the project include product design selection and the finalized product design. The fact that product design selection has multiple predecessors and multiple successors makes it a milestone (Milošević, 2003). The project design selection facilitates the narrowing down of the various options to pursue the project to work on.
One of the major advantages attributed to the schedule table is its ability to clearly show the total time for the completion of the project and the fact that it clearly indicates the times for late start, late finish, and free slash of each (Timmreck, 2003). The main disadvantage attributed to
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