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Identify the best decision for the project

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Reference no: EM131719050

As the manager of a new website project for your company, you need to decide whether to make a new web application in-house or send the project out to a developer. The developer has quoted a project cost of $175,000. Based on previous work with this developer, you are 85 percent certain they will finish the work on time. Your in-house development team has quoted a project cost of $165,000. Based on previous work with the in-house team, you are 75 percent certain they will complete the work on time.

Make a decision tree illustrating the cost and probability of each option and then identify the best decision for the project.

Reference no: EM131719050

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