Monitoring and Controlling Projects - Management Assignment Help

Assignment Task

1. What do we mean by Project Risks? Please identify different types of risks associated with projects and what are the means to mitigate them. Discuss.

2. Critical Path Method is a deterministic way of scheduling projects but PERT method is a probabilistic way. Discuss the advantages and limitations of both methods.

3.a. A Project is scheduled as follows:
Activity Optimistic Time Most Likely Time Pessimistic Time
A. 5 days 6 days 7 days
B. 9 days 12 days 15 days
C. 6 days 7 days 9 days
D. 3 days 5 days 7 days
E. 2 days 4 days 6 days

Using PERT Method Calculate:
1. Estimated Time to Complete the Project
2. Probability that the Project will be completed within 35 days?
3. Standard Deviation of the Project
4. Probability that this project will take more than 35 Days to complete?
Use Z table for reference (cumulative)

3.b. Discuss the following in brief only.
NPV.
IRR.
PBP.
ROI.
BEP.

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