Construction Planning and Management
If to, tp and tm are the optimistic, pessimistic and most likely time estimates of an activity respectively, the expected time t of the activity will be

to + 3tm+ tp/3
to + 4tm+ tp/5
to + 4tm+ tp/6
to + 4tm+ tp/4

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Construction Planning and Management
Sinking fund is

The fund for rebuilding a structure when its economic life is over
A part of the money kept in reserve for providing additional structures and structural modifications
The total sum to be paid to the municipal authorities by the tenants
Raised to meet maintenance costs

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