Perform quantitative risk analysis

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Reference no: EM132230647

a. Time and Cost contingency reserves should not be based on cumulative frequency distributions of Total Project Duration or Total Project Cost respectively. True or False

b. Risk Response Planning should absolutely not started before “Perform Quantitative Risk Analysis” True or False

c. Consider an activity A in a project network. A simulation run of 15,000 results in two tornado diagrams –one for Total Project Cost and one for Total Project Duration. In the 1st tornado diagram, A is at the top while in the 2nd tornado diagram, it is at the bottom. What does that mean?

d. Consider the same wedding gown alteration activity. The tailors expect a range of 2 days to 6 days for activity completion with uniform probability (uniform distribution). It means any single time duration between 2 and 6 days (inclusive) have same probability. True or False

Reference no: EM132230647

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