Question: A project manager is working through potential options using a decision tree. Scenario A has a failure impact of $5,000 with a probability of 25

A project manager is working through potential options using a decision tree. Scenario A has a failure impact of –$5,000 with a probability of 25 percent, and no impact if successful; and scenario B has a failure impact of –$3,500 with a probability of 65 percent, and no impact if successful. Which scenario should the project manager choose?

A. Scenario A B. Scenario B C. Neither scenario D. Insufficient information provided

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Construction Project Management Questions!