Consider the wedding plan project case

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1. Consider The Wedding Plan Project case. Suppose that the wedding gown alteration activity duration will be 2 days with 10% probability; 4 days with 70% probability and 6 days 20% probability (no other durations are possible). What is the expected duration and variance?

2. The range of cost estimates for various activities in a large project can be gathered by Interview with project members and/or from experts. True or False

3. For a large project, when performing “Quantitative” risk analysis for overall project duration, the shapes of distributions of activity durations (beta, triangle, uniform, normal, etc.) are very significant. True or False

4. In a large project, Central Limit Theorem governs the behavior of overall project cost or overall project duration when project individual activity durations or individual activity costs are randomly distributed. True or False.

Reference no: EM132230680

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