Answer ALL the questions in this section.

QUESTION $1$

$(20$ Marks$)$

The article makes reference to Time$-$cost trade$-$off problems which is one of the most frequent and critical decisions that project managers usually make. Using an appropriate diagram, demonstrate, with reference to the article above, how you would effect the time$-$cost trade$-$off on projects with the various uncertainties $($or variability$),$ as mentioned in the article, that may impact the project.

QUESTION $2$

$(20$ Marks$)$

Utilisation of traditional methods such as critical path method $($CPM$)$ by deterministic activity duration fails to overcome the common uncertainties $($variabilities$),$ as mentioned in the article, in the project environment. The article prescribes that a "robust scheduling method" be identified. The Critical Chain Project Management $($CCPM$)$ method may be considered a "robust scheduling method" to deal with uncertainties $($variabilities$)$ in a project.

Deliberate on a "deterministic" as opposed to a "probabilistic" schedule and then launch into an expos$$ of how the inadequacies of the CPM may be accommodated by the Critical Chain Project Management $($CCPM$)$ method. Be sure to include discussions on the CCPM scheduling process, the time and resource buffers as well as the optimal utilisation of slack calculated from the CPM for use within the CCPM method.