Question: Expected time and cost: 6 weeks in $100,00 30 % likely: Delay by 3 weeks, increase in cost by $30,000. If project staff increased by
Expected time and cost: 6 weeks in $100,00
30 % likely: Delay by 3 weeks, increase in cost by $30,000.
If project staff increased by 30% with additional cost of $20,000 -
10% likely: Delay by 1 week, increase in cost $10,000.
These types of projects cannot go over budget by more than 10%.
With above information, how does a decision tree look like? and answer the followings:
Would you increase the size of the project staff? Why or why not?
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