Paramount AV Company has a project for the installation of a new video live-streaming system. The project is expected to take 6 weeks and cost $100,000. This type of past project documents indicate a 30% likelihood that the project will encounter problems that could delay it by as much as 3 weeks and increase the cost by $30,000. By increasing the project staff by 30% for an additional cost of $20,000, the likelihood of problems would be reduced to 10%, and the delay and cost to 1 week and $10,000, respectively. These types of projects cannot go over budget by more than 10%. Design a decision tree based on this information for the project. Would you suggest to increase the size of the project staff? Why so or why not?

Answer rating: 100% (QA)

First lets start off by understanding the given information and organizing a decision tree A decision tree is a graph that uses branching to depict di... View the full answer