PROJECT MANAGEMENT

Project – a series of related jobs usually directed toward some major output and
requiring a significant period of time to perform.

Projects are unique one-off operations designed to accomplish a specific set of objectives
in a limited time frame. Projects may involve considerable cost with a long time horizon
and some involve a large number of activities that must be carefully planned and co-
coordinated. Most projects are therefore planned to be completed based on time, cost and
performance targets. To accomplish this, goals must be established and priorities set.
Resource requirements must be projected and budgets prepared.

Nature of projects
Projects go through a series of stages – a life cycle- which include; project definition,
planning, execution of major activities and project phase out. During the project life
cycle, a variety of skill requirements are involved. Projects typically bring people
together with diverse knowledge and skills, most of whom remain associated with the
project for less than its full life. Some people go from project to project as their
contributions become needed, and others are ‘’on loan’’ either on full time or part time
basis, from their regular jobs.

Project processes are used to construct buildings, to develop computer software, to

introduce new products or to perform consulting studies. Although they can range in
magnitude from small consulting studies to multi-million-shilling construction projects
involving thousands of people, projects have common features viz.;

✓ They require a wide variety of tasks or activities, some of which can be performed
concurrently and others consecutively.
✓ They usually have tight time and budget limits.
✓ Resources can be reallocated among tasks to affect performance time.

Project management – planning, directing, and controlling resources (people,

equipment, materials) to meet the technical, cost and time constraints of the project.

Key Managerial Decisions in Project Management

The success of the projects depends on key managerial decisions over a sequence of
steps. These include;
• Deciding which projects to implement
• Selecting the project manager
• Selecting the project team
• Planning and designing the project
• Managing and controlling project resources
• Deciding if and when the project should be terminated

Deciding which projects to implement

School of Business SEM II 2022/2023 1

This involves determining the criteria that will be used to decide which projects to
persue. Typical factors here include; the budget, availability of appropriate knowledge
and skill personnel, and cost benefit considerations, funds, safety issues, government
mandated actions etc.

Selecting the project manager

This is the central person in the project with roles and responsibilities discussed later in
this topic

Selecting the project team

The team can greatly influence the ultimate success or failure of the project. Important
considerations include but not limited to; persons knowledge and skill base, how well the
person works with others, personal enthusiasm for the project, other projects that the
person is involved in and how likely those projects might be to interfere work on the
project

Planning and designing the project

Project planning and design require decisions on project performance goals, a timetable
for project completion, the scope of the project, resources needed and the budget

Managing and controlling project resources

This Involves; managing personnel, equipment, the budget, establishing appropriate
techniques foe evaluating the project, monitoring the progress of the project and taking
corrective action when needed.

Deciding if and when a project should be terminated

Sometimes it is better to terminate a project than to invest any more resources.
Considerations here are the likelihood of success, termination costs, and whether
resources could be better used elsewhere.

The Project Manager

Every project should be assigned a Project Manager who is responsible for obtaining and
managing the needed resources, co-coordinating activities and personnel, scheduling and
monitoring progress, and ultimately bearing the responsibility for the success or failure of
the project.

In project oriented organizations, workers recognize that their work will focus mainly on
projects and that they will move from project to project. They receive job satisfaction
and are evaluated primarily on their project work. The manager therefore has less need to
motivate, coax, or coerce workers to participate in the project.

The project manager is responsible for managing each of each of the following
• The work, so that all the necessary activities are accomplished in the desired
sequence and performance goals are met.
• The human resources so that those working on the project have direction and
motivation

School of Business SEM II 2022/2023 2

 • Communication so that every body has the information they need to do their
work
• Quality so that performance objectives are realized
• Time so that the project is completed on schedule
• Costs so that the project is completed with in the budget

Note: To effectively manage a project, a project manager must employ a certain set of
skills which include; ability to motivate and direct team members, expedite the work
when necessary, and monitor time, budget and technical details.

Project Life Cycle

The size, length and scope of projects vary widely according to the nature and purpose of
the project. Nevertheless, all projects have something in common i.e. they go through a
life cycle which typically consists of four phases:
• Definition. This has two parts; (a) concept, i.e. the point at which the organization
recognizes the need for the project or responds to the request for a proposal from
a potential customer or client and (b) feasibility analysis, which examines the
expected costs, benefits and risks of undertaking the project.
• Planning. This spells out the detail of the work and provides estimates of the
necessary human resources, time and costs.
• Execution. This is when the project it self is done. This phase often accounts for
the majority of time, and resources consumed by the project.
• Termination. During which the closure is achieved. This can involve; re-
assignment of personnel and dealing with any left over materials, equipment and
any other resources associated with the project.

Note; Some of these phases can overlap so that one phase may not be fully complete
before the next phase begins. This can effectively reduce time needed to move through
the life cycle.

Project Scheduling: Use of Gantt Charts

It is a popular tool for planning and scheduling simple projects. It enables the manager to
initially schedule project activities and then to monitor progress overtime by comparing
planned progress to actual progress. Once the project tasks, precedence relationships and
time estimates are known, the next stage is to use them to devise a schedule. For simple
projects, Gantt charts are always very useful.

A Gantt chart is a bar chart along a time axis that illustrates the planned starting and
completion times for each task. With the use of the Gantt chart, as the project progress,
the manager is normally able to see the activities that are ahead of schedule and those
ones that are delaying the project. This enables the manager to direct the attention where
it is needed most to speed up the project in order to finish it on schedule.

School of Business SEM II 2022/2023 3

Example: Eco Bank Uganda ltd has embarked on a project to re-organize and move its
loans department to a new area and has provided the sequencing of the necessary
activities in the table given below:
A Project to Reorganize and Move the Loans Department to a New Location
Task Depends on prior Expected Task Time
completion of (Weeks)
A Select office site - 3
B Develop org. & fin. plan - 5
C Determine personnel needs B 3
D Design office layout A,C 4
E Construct interior D 8
F Select personnel to move C 2
G Hire new employees F 4
H Move records, key personnel F 2
etc
I Negotiate financial B 5
arrangements
J Train personnel H,E,G 3
Required: Draw a Gantt chart to schedule the above activities

GANTT CHART TO SCHEDULE THE ACTIVITIES

Task / Weeks 3 6 9 12 15 18 21 24
A Select office site
B Develop org. & fin. Plan
C Determine personnel needs
D Design office layout
E Construct interior
F Select personnel to move
G Hire new employees
H Move records, key
personnel etc
I Negotiate financial
arrangements
J Train personnel

Advantages of using Gantt charts in project scheduling

• The benefit of Gantt charts is that the user is able to know when a task is supposed to
begin and end whether or not it is on schedule.

School of Business SEM II 2022/2023 4

• Gantt charts also visualize different activities of a project and simplifying the
scheduling of different activities.
• Gant charts are used to establish the project completion time

Shortcoming
• One is not able to see the relationships among the tasks e.g. task D and F have same
starting points but different predecessors.
• They do not help determine which tasks can or cannot take more than planned time
without slowing the project as a whole.
• Provides no help in reallocating resources among tasks to stay on schedule, because
they cannot differentiate between critical and non-critical tasks.
• For complex projects with hundreds or thousands of tasks, constructing and updating
a Gantt chart that is consistent, with precedence relationship satisfied, is extremely
difficult.

Hence Gantt charts are usually used in conjunction with network-based methods. The
network-based method is used to establish and update the schedule for the tasks. Then
the individual task schedules are transferred to Gantt charts for visual clarity.

Project Network Analysis

Networks provide a structure in which to present both concurrent and consecutive tasks.
Because projects can require completion of several interrelated tasks over long period of
time, it is extremely helpful to have an approach that visualizes these interrelationships
and Network –based methods provide a valuable aid to the monitoring and control of
projects

Developing the network

Networks are mathematical structures made up of two parts: nodes and arcs. The nodes
are usually designated by circles and are connected to each other by arrows or arcs.
Once a network diagram has been constructed it is possible to follow a sequence of
activities, called a path, through the network from start to end. The length of time it takes
to follow the path is the sum of all the duration of activities on that path.

• The path with the longest duration gives the project completion time. This is
called the critical path because any change in duration of activities on this path
will cause the whole project duration to either become shorter or longer.

• Activities not on the critical path will have a certain amount of slack time, which
the activity can be delayed without affecting the overall project duration.

• By definition all activities on the critical path have zero slack. It is vital to
note that there must be at least one critical path for each network albeit there
might be several.
• Thus any planning and control of activities, should focus on ensuring
tasks/activities on the critical path remain within schedule.

School of Business SEM II 2022/2023 5

Diagram
Two methods of constructing critical path diagrams:
Activity-on-Node (AON)- where nodes represent activities and then use arrows to
designate precedence relationships.

Activity-on-Arrow or Arc (AOA) – where arrows or arcs represent the activities or

tasks. The nodes are events and represent points in time at which one or more tasks start
or finish.

Network symbols

School of Business SEM II 2022/2023 6

Single Time Estimates of Activities

Earliest Duration Earliest

start finish

Activity code
Activity description

Latest start Slack / Latest

float finish

Establishing the earliest start/finish times (forward path)

From the duration of each task and the dependency relationship between the tasks it is
possible to estimate the earliest start and finish time for each task as follows: (move left
to right along the network, forward path)
1. assume the start (i.e. first) task begins at time = 0
2. calculate the earliest finish time where:
Earliest Finish (EF) = Earliest Start (ES) + Duration (D)
3. calculate earliest start time of the next task where:
Earliest Start = Earliest Finish of task immediately before.
4. If there is more than one task immediately before, take the task with the
maximum (or highest) earliest finish time to calculate the earliest start time for the
current task.

Calculating the latest start / finish times (backward path)

It is possible to estimate the latest start and finish time for each task as follows (move
from right to left along the network, backward through time)
1. Assume the end (i.e. last) task end time is the late finish time (unless the project
end time is given).
2. Calculate the latest start time where:
Latest Start (LT) = Latest Finish (LF) – Duration (D)
3. Calculate the latest finish time of the previous task where:
Latest Finish (LF) = Latest Start (LS) of the task immediately after
4. If there is more than one task immediately after, take the task with the minimum
(or lowest) latest start time to calculate the latest finish time for the current task

Calculating the slack / float times

The slack value is the difference between the earliest start and latest start (or earliest
finish and latest finish) times for each task. To calculate the slack time:
Slack =Latest Start – Earliest Start or Slack =Latest finish – Earliest Finish

School of Business SEM II 2022/2023 7

Identifying the Critical Path
A path is a sequence of connected activities running from the start to end node in a
network. The critical path is the path with the longest duration in the network. A project
cannot be completed in less than the time of the critical path.
Any tasks with a slack time zero must obviously be undertaken on schedule at the earliest
start time. The critical path is the pathway connecting all the nodes with a zero slack
time.

Illustration one
Draw an activity on node network diagram and answer the questions that follow;

Activity Depends on prior completion of Duration

A - 4
B A 7
C A 5
D B 8
E BC 5
F C 2
G DEF 1

Required:
(a) Perform forward path calculations to determine earliest start and earliest finish
(b) Perform backward path calculations to determine latest start and latest finish
(c) Calculate slack time for each activity
(d) Identify the Critical Path

4 11 11 19
B D
7 8

4 11 11 19

0 4 11 16 19 20
A E G
4 5 1
0 4 14 19 19 20

4 9 9 11
C F
5 2

9 14 17 19
KEY
ES EF
Activity
Duration
LS LF

School of Business SEM II 2022/2023 8

 Activity Duration Earliest Earliest Latest Start Latest Slack
Start (ES) Finish (EF) (LS) Finish (LF) time
A 4 0 4 0 4 0
B 7 4 11 4 11 0
C 5 4 9 9 14 5
D 8 11 19 11 19 0
E 5 11 16 14 19 3
F 2 9 11 17 19 8
G 1 19 20 19 20 0

Critical path
ABDG = 4+7+8+1 = 20
ABEG = 4+7+5+1 = 17
ACEG = 4+5+5+1 = 15
ACFG = 4+5+2+1 = 12

Critical path = ABDG

Illustration two
The following outlines the installation of a new information system in an organization.

Description Depends on prior Expected duration

completion of (days)
A Select system - 10
B Obtain finance A 30
C Order equipment B 7
D Appoint training B 10
E Buy software B 5
F Delivery C 28
G Set up training C,D 30
H Prepare data E,G 20
I Install equipment F 10
J Test system I, ,H 14
K Commission J 7

REQUIRED:
a) Draw an AON diagram for this Project
b) Calculate the earliest start, earliest finish, latest start, latest finish and slack times for each
activity
c) Identify the critical path

School of Business SEM II 2022/2023 9

 Dealing with uncertainty in time estimates

If a single estimate of the time that is required to complete an activity is not reliable the
best procedure is to use 3 time estimates. These three times not only allow us to estimate
the activity time but also let us obtain a probability estimate for completing the entire
network.

The PERT approach attempts to take into account the fact that most task durations are
fixed but vary when they are executed. The beta probability distribution is used to
describe the variability inherent in the processes. The expected time is calculated using a
weighted average of minimum, maximum and most likely time estimates.

Optimistic Time – the minimum reasonable period of time in which the activity (task)
can be completed. (There is only a small probability, typically assumed to be 1%, that
the activity can be completed in less time.) i.e length of time under optimal conditions

Most likely time – the best guess of the time required. Since  would be the time
thought most likely to appear, it is also the mode of the beta distribution. i.e length of
time that is most probable
Pessimistic time – the maximum reasonable period of time the activity would take to be
completed. (There is only a small probability, typically assumed to be 1% that it would
take longer.) Length of time under worst conditions

To derive the weighted average or expected time for task duration the following equation
is used:

Expected duration = (Optimistic + (4 X most likely) + Pessimistic)/6

or
a + 4m + b
=
6
This is based on the beta statistical distribution and weights the most likely time (m) four
times more than either the optimistic time (a) or the pessimistic time (b). The beta
distribution is extremely flexible. It can take on the variety of forms that typically arise;
it has finite end points (which limit the possible activity times to the area between a and
b); and, in the simplified version, it permits straightforward computation of the activity
mean and standard deviation.

To calculate the degree of uncertainty associated with the duration of a task we compute
the task variance:

Variance = (Pessimistic – Optimistic) 2/36 = (b-a / 6) 2

Hence the variance is the square of one-sixth the difference between the two extreme
time estimates. The greater this difference, the larger the variance.

School of Business SEM II 2022/2023 10

Determining the path probability
Determine the probability of completing the project on a given date, based on the
application of the standard normal distribution.
• Determine the variance and standard deviation for the critical path. The variance of
the critical path is obtained by the sum of variances of activities on the critical path
• Substitute this figure (standard deviation), along with the project due date (Desired
time) and the project expected completion time for each path, into the Z
transformation formula.

Z = (Desired time – Expected time)/Path standard deviation =

X-µ

• Calculate the value of Z, and use it find the probability for completing the project
with in the desired (using a table of normal distribution).

Note: If the value of Z IS +3.00 or more, the probability is close to 100% (for z = +3.00,
probability is 0.9987). Hence it is very likely that the activities that make up the path will be
completed by the specified time. For that reason, a useful rule of thumb is to treat the probability
as being equal to 100% if the value of z is +3.00 or more.

Illustrations – PERT WITH TIME ESTIMATES

Illustration One
The following represents a plan for a project;

Activity Immediate Predecessors Times (days)

a m B
A - 1 3 5
B - 1 2 3
C A 1 2 3
D A 2 3 4
E B 3 4 11
F C,D 3 4 5
G D,E 1 4 6
H F,G 2 4 5

1. Draw the network (AON)

2. What is the critical path
3. What is the expected project completion time
4. Variance and standard deviation for the critical path.
5. The probability that the project will be completed in 18 days or less

School of Business SEM II 2022/2023 11

Solution
Draw the network (AON)
3 5
C
2
4.8 6.8
0 3 6 10
A F
3 4
0 0
START 0.8 3.8 3 6 6.8 10.8 10.8 14.6
D H
3
0 0 3.8
3.8 6.8 10.8 14.6
0 2 7 10.8
B G
2 3.8
0 2 2 7 7 10.8
E
5
2 7

Critical Path is BEGH = 2+5+3.8+3.8 = 14.6

(Activities whose slack is 0)

Activity a m b Mean(Expected Standard Variance

duration) deviation (∂ ) (∂2)
A 1 3 5 3 0.666 0.444
B 1 2 3 2 0.333 0.111
C 1 2 3 2 0.333 0.111
D 2 3 4 3 0.333 0.111
E 3 4 11 5 1.333 1.777
F 3 4 5 4 0.333 0.111
G 1 4 6 3.8 0.833 0.6944
H 2 4 5 3.8 0.500 0.250

The probability that the project will be completed in 18 days or less

Activity on critical path Mean duration Variance

B 2 0.111
E 5 1.777
G 3.8 0.6944
H 3.8 0.250
Total 14.6 2.832

School of Business SEM II 2022/2023 12

Standard deviation = √2.832 = 1.682

= P(x < 18)

= P(x - µ)
∂

Z= 18 – 14.6 = 2.02
1.682

= P(Z < 2.02)

Using the normal distribution table

Trace for Z value of 2.02

Therefore the probability is 0.4783 or 47.8%

Illustration two
Three recent University graduates have formed a Partnership and have opened an advertising
firm. Their first project consists of activities listed below

Immediate Time estimates (days)

Activity predecessor Optimistic Most likely Pessimistic
A - 5 6 7
B - 8 8 11
C A 6 8 11
D - 9 12 15
E C 5 6 9
F D 5 6 7
G F 2 3 7
H B 4 4 5
I H 5 7 8
End E,G,I

Required: Draw the Project network diagram (AON) and use it to determine
i. The Expected completion time
ii. Variance and standard deviation for the critical path
iii. The probability that the project will be completed in 21 days or less

Illustration three
Nile Corps plans to develop and introduce a new product. The product development and
introduction process has been divided into nine tasks. The optimistic (a), pessimistic (b) and
most likely (m), time estimates for each task are given below.
Task time (months)
Task Predecessors
a M b
A - 4 6 10
B - 2 3 5
C - 1 2 5
D A,B 2 3 6

School of Business SEM II 2022/2023 13

 E A,B,C 4 7 12
F D,E 1 2 4
G F 2 4 7
H F 3 6 10
I G,H 1 2 4

i) Construct a PERT/CPM diagram for the project

ii) Compute the project completion time, assuming all tasks take their expected times to
complete
iii) Establish the probability that product development and introduction will take more
than 26 months to complete.

Project crashing and time - cost trade off

Project crashing is a method for shortening the project duration by reducing the time of one (or
more) of the critical project activities to less than its normal activity time. This reduction in the
normal activity time is referred to as crashing. Crashing is achieved by devoting more resources,
usually measured in terms of dollars, to the activities to be crashed.

Project crashing
For if it takes 12 weeks to complete activity A. further, we will assume that cost required to
complete this activity is shs 3,000. This cost is referred to as the normal activity cost. Next, we
will assume that the building contractor has estimated that activity A can be completed in 7
weeks, but will cost shs 5,000 instead of shs 3,000 to complete the activity. This new estimated
activity time is known as the crash time, and the cost to achieve the crash time is referred to as
the crash cost.

Activity A can be crashed a total of 5 weeks (normal time - crash time, i.e. 12 -7 =5 weeks) at a
total crash cost (crash cost – normal cost i.e. shs 5000 – shs3000 =shs 2000).

Dividing the total crash cost by the total allowable crash time yields the crash cost per week:
Total crash cost = shs 2000
Total Crash time 5 = shs 400 per week

The objective of project crashing is to reduce project duration while minimizing the cost of
crashing. Since the project completion time can be shortened only by crashing activities on the
critical path, it may turn out not all activities have to be crashed.
However, as activities are crashed, critical path may change, requiring crashing of previously
noncritical activities to reduce the project completion time even further.

School of Business SEM II 2022/2023 14

Example
The following is a project of constructing a building, and its duration is 9 months or 36 weeks.
Suppose the builder needed the house in 30 weeks, how much extra cost would be incurred to
complete the house by this time.
Activity Normal time Crash Normal Crash Total Crash
time cost Cost allowable cost per
crash time week
(weeks)
1-2 12 7 3000 5000 5 400
2-3 8 5 2000 3500 3 500
2-4 4 3 4000 7000 1 3000
3-4 0 0 0 0 0 0
4-5 4 1 500 1100 3 200
4-6 12 9 50000 71000 3 7000
5-6 4 1 500 1100 3 200
6-7 4 3 15000 22000 1 7000
75000 110700

Assumption of Critical Path Method (CPM) – Limitations

1. Project activities can be identified as entities. (There is a clear beginning and ending
point for each activity.) Projects especially complex ones, change in content over time, so
a network made at the beginning may be highly inaccurate later. Also, the very fact that
activities are specified and a network is formalised tends to limit the flexibility that is
required to handle changing situations as the project progresses.
2. Project activity sequence relationships can be specified and networked. Sequence
relationships cannot always be specified beforehand. In some projects, in fact, ordering
certain activities is conditional on previous activities. (CPA, in the basic form, has no
provision for treating this problem, although some other techniques have been proposed
that allow the project manager several contingency paths, given different outcomes from
each activity.)
3. Project control should focus on the critical path. It is not necessarily true that the longest
time-consuming path (or the path with zero slack) obtained from summing activity
expected time values ultimately determines project completion time. What often happens
as the project progresses is that some activity not on the critical path becomes delayed to
such a degree that it extends the entire project. For this reason it has been suggested
that a “critical activity” concept replace the critical path concept as the focus of
managerial control. Under this approach, attention would centre on those activities that
have a high potential variation and lie on the critical path or on a “near-critical path”.

Key factors to successful project management

• Clearly defined goals including project philosophy or general mission
• Competent project manager with technical and administrative skills
• Top management support and commitment
• Competent project team members
• Sufficient resource allocation
• Adequate communication channels
• Control mechanisms to monitor actual events
• Feedback capabilities to all concerned parties

School of Business SEM II 2022/2023 15

 • Responsiveness to clients(users)
• Troubleshooting mechanisms or set of procedures to talk problems
• Project staff continuity through its life.

Top 10 reasons why project management is important

Source: P.B. Williams (1996), Getting a project done on time, http://www.amanet.org

• Organizations that are willing to allow hastily planned, poorly led projects weaken
themselves and endanger employees by wasting precious resources.
• Organizations that are flattening (e.g. through reengineering, downsizing, or rightsizing)
will depend on projects and project leaders to get work done that was handled be
departments.
• With rare exceptions, project prime movers believe that project meltdowns are the result
of weak project leadership.
• More than one lumpy project leadership performance can give you a reputation that will
repel future project participants.
• Project work is often disguised by the use of the word team; if you find yourself on or
leading teams; you are probably working with others to complete a project.
• The abilities that are required to organise and carry out successful projects will enhance
other aspects of your job.
• Leading successful projects is the best way to prove your promotability to the people who
make those decisions.
• The best way to promote effective project leadership is to set examples that are so
powerful and positive that others would not dare do less.
• Project leaders seldom get better until they know how to do it right.
• If you are not getting better, you are worse as you get older.

School of Business SEM II 2022/2023 16

 Table of the Standard Normal (z) Distribution
z 0.00 0.01 0.02 0.03 0.04 0.05 0.06 0.07 0.08 0.09
0.0 0.0000 0.0040 0.0080 0.0120 0.0160 0.0199 0.0239 0.0279 0.0319 0.0359
0.1 0.0398 0.0438 0.0478 0.0517 0.0557 0.0596 0.0636 0.0675 0.0714 0.0753
0.2 0.0793 0.0832 0.0871 0.0910 0.0948 0.0987 0.1026 0.1064 0.1103 0.1141
0.3 0.1179 0.1217 0.1255 0.1293 0.1331 0.1368 0.1406 0.1443 0.1480 0.1517
0.4 0.1554 0.1591 0.1628 0.1664 0.1700 0.1736 0.1772 0.1808 0.1844 0.1879
0.5 0.1915 0.1950 0.1985 0.2019 0.2054 0.2088 0.2123 0.2157 0.2190 0.2224
0.6 0.2257 0.2291 0.2324 0.2357 0.2389 0.2422 0.2454 0.2486 0.2517 0.2549
0.7 0.2580 0.2611 0.2642 0.2673 0.2704 0.2734 0.2764 0.2794 0.2823 0.2852
0.8 0.2881 0.2910 0.2939 0.2967 0.2995 0.3023 0.3051 0.3078 0.3106 0.3133
0.9 0.3159 0.3186 0.3212 0.3238 0.3264 0.3289 0.3315 0.3340 0.3365 0.3389
1.0 0.3413 0.3438 0.3461 0.3485 0.3508 0.3531 0.3554 0.3577 0.3599 0.3621
1.1 0.3643 0.3665 0.3686 0.3708 0.372539 0.3749 0.3770 0.3790 0.3810 0.3830
1.2 0.3849 0.3869 0.3888 0.3907 0.3925 0.3944 0.3962 0.3980 0.3997 0.4015
1.3 0.4032 0.4049 0.4066 0.4082 0.4099 0.4115 0.4131 0.4147 0.4162 0.4177
1.4 0.4192 0.4207 0.4222 0.4236 0.4251 0.4265 0.4279 0.4292 0.4306 0.4319
1.5 0.4332 0.4345 0.4357 0.4370 0.4382 0.4394 0.4406 0.4418 0.4429 0.4441
1.6 0.4452 0.4463 0.4474 0.4484 0.4495 0.4505 0.4515 0.4525 0.4535 0.4545
1.7 0.4554 0.4564 0.4573 0.4582 0.4591 0.4599 0.4608 0.4616 0.4625 0.4633
1.8 0.4641 0.4649 0.4656 0.4664 0.4671 0.4678 0.4686 0.4693 0.4699 0.4706
1.9 0.4713 0.4719 0.4726 0.4732 0.4738 0.4744 0.4750 0.4756 0.4761 0.4767
2.0 0.4772 0.4778 0.4783 0.4788 0.4793 0.4798 0.4803 0.4808 0.4812 0.4817
2.1 0.4821 0.4826 0.4830 0.4834 0.4838 0.4842 0.4846 0.4850 0.4854 0.4857
2.2 0.4861 0.4864 0.4868 0.4871 0.4875 0.4878 0.4881 0.4884 0.4887 0.4890
2.3 0.4893 0.4896 0.4898 0.4901 0.4904 0.4906 0.4909 0.4911 0.4913 0.4916
2.4 0.4918 0.4920 0.4922 0.4925 0.4927 0.4929 0.4931 0.4932 0.4934 0.4936
2.5 0.4938 0.4940 0.4941 0.4943 0.4945 0.4946 0.4948 0.4949 0.4951 0.4952
2.6 0.4953 0.4955 0.4956 0.4957 0.4959 0.4960 0.4961 0.4962 0.4963 0.4964
2.7 0.4965 0.4966 0.4967 0.4968 0.4969 0.4970 0.4971 0.4972 0.4973 0.4974
2.8 0.4974 0.4975 0.4976 0.4977 0.4977 0.4978 0.4979 0.4979 0.4980 0.4981
2.9 0.4981 0.4982 0.4982 0.4983 0.4984 0.4984 0.4985 0.4985 0.4986 0.4986
3.0 0.4987 0.4987 0.4987 0.4988 0.4988 0.4989 0.4989 0.4989 0.4990 0.4990
3.1 0.4990 0.4991 0.4991 0.4991 0.4992 0.4992 0.4992 0.4992 0.4993 0.4993
3.2 0.4993 0.4993 0.4994 0.4994 0.4994 0.4994 0.4994 0.4995 0.4995 0.4995
3.3 0.4995 0.4995 0.4995 0.4996 0.4996 0.4996 0.4996 0.4996 0.4996 0.4997
3.4 0.4997 0.4997 0.4997 0.4997 0.4997 0.4997 0.4997 0.4997 0.4997 0.4998

School of Business SEM II 2022/2023 17