Case Study 1: Decision Tree Analysis As a project manager working with diverse projects in Edinburgh, you must determine whether your organization is to build a new 120m plant to enable it to produce a new range of remotely controlled air conditioning systems or whether you should upgrade the existing plant at the cost of 50m. Your financial people have calculated that if you build a new plant, you have a 60% chance of earning 200m if there is a strong demand as opposed to earning 90m if there is a weak demand. They have also told you that if you upgrade the existing plant, you have a 40% chance of earning 60m on weak demand, and you expect to earn 120m on solid demand.

Use decision tree analysis to calculate the expected monetary values for each case and recommend as to which option you would endorse.