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Crashing and fast tracking are techniques used in schedule compression.  Schedule compression is used when the desired result is to create output faster than indicated in the original project, without having to change the project scope.  This is particularly beneficial if a competitor is working on the same type of project and you need to finish first. It may also be a company decision to complete a project more quickly than originally scheduled based on various factors.

You are managing an amusement park development project. You received the following estimates for site excavation and area development activity, which are critical to the success of your project. The most likely estimate is $100,000, the optimistic estimate is $90,000, and the pessimistic estimate is $120,000.  What is the variance of the data?

A.) $25,000,000
B.) $5,000
C.) $30,000
D.) $10,5000

Hint: Calculate the standard deviation using the PERT method and then calculate the variance from it.