The table gives the baseline cost and time estimates (BCE and BTE), the cost and time...

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The table gives the baseline cost and time estimates (BCE and BTE), the cost and time estimates to correct for failure, and the likelihood of failure for each work package. WBS Element BCE BTE (Week) Corrective-Cost Corrective-Time Likelihood L 20000 V 16000 T 32000 U 20000 S 16000 J 18000 R C 10000 15000 9 8 85 5 7 3 33 46 6 4000 4000 8000 12000 4000 4000 4000 5000 2 2 2 3 1 3 2 0.2 0.3 0.1 0.2 0.3 0.1 0.3 0.3 a) Determine the risk time and risk cost for all the WBS elements of the project. b) Consider the risk times on non-critical paths. Which activities and paths should be watched carefully as posing the highest risks? c) What is the project expected cost (EC) and expected time (ET)? Pennsylvania Coal Mine The team at Penn Mining was tasked with sinking a 2000m deep ventilation shaft and excavating space for a loading station at the bottom. The original plan was to sink the shaft within 20 months at a cost of $65,000 per meter of shaft depth. For the station at the bottom, 30,000 cubic meters of rock would have The table gives the baseline cost and time estimates (BCE and BTE), the cost and time estimates to correct for failure, and the likelihood of failure for each work package. WBS Element BCE BTE (Week) Corrective-Cost Corrective-Time Likelihood L 20000 V 16000 T 32000 U 20000 S 16000 J 18000 R C 10000 15000 9 8 85 5 7 3 33 46 6 4000 4000 8000 12000 4000 4000 4000 5000 2 2 2 3 1 3 2 0.2 0.3 0.1 0.2 0.3 0.1 0.3 0.3 a) Determine the risk time and risk cost for all the WBS elements of the project. b) Consider the risk times on non-critical paths. Which activities and paths should be watched carefully as posing the highest risks? c) What is the project expected cost (EC) and expected time (ET)? Pennsylvania Coal Mine The team at Penn Mining was tasked with sinking a 2000m deep ventilation shaft and excavating space for a loading station at the bottom. The original plan was to sink the shaft within 20 months at a cost of $65,000 per meter of shaft depth. For the station at the bottom, 30,000 cubic meters of rock would have

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a To determine the risk time and risk cost for all WBS elements we can use the following formula Ris... View the full answer