Calculate the best case, worst case, and expected monetary value of COST based on the scenario below:

You are planning the manufacture of a new software product. Your project estimate results in a project cost of U.S $600,000. In addition, your analysis has come up with the following:

A. There is a 55% probability of a delay in receiving support software from vendor, resulting in an increased labor cost to the project of $63,000 and a 28-day delay.

B. There is a 15% probability that new software technology will be released, resulting in project cost savings of $30,000 and schedule savings of 25 days.

C. There is a 5% probability that the coding will be easier than expected, resulting in a $2,500 savings and 7 days.

D. There is a 25% probability that a major bug will cause $9,000 of rework and a 16-day delay.

Answer rating: 100% (QA)

The bestcase scenario is that an event that is beneficial to us occurs but one that is not beneficia... View the full answer