I need help with a Management question. All explanations and answers will be used to help me learn.
- Chapter 14 in Project Management Toolbox
- Part 1, Chapter 11 in A Guide to the Project Management Body of Knowledge (PMBOK® Guide), 6th edition
- Botezatu, M. A. (2016). Insight into project risk management. Journal of Information Systems & Operations Management, 1-14.
- Qi, A. (2015). Chinese traditional management philosophy and project risk management. Organization, Technology & Management in Construction, 7(1).
- Piney, C. (2012). Integrated project risk and issue management. Paper presented at PMI® Global Congress 2012—EMEA, Marsailles, France. Newtown Square, PA: Project Management Institute. Retrieved from https://www.pmi.org/learning/library/integrated-project-risk-issue-management-6303
In the following linked bar chart, the activities, their durations (in days), and relationship types are shown. As shown in this figure, the duration of Task 1 is currently two days. A more accurate review of activity durations finds that the duration of Task 1 follows a triangle distribution with the three parameters of 1, 2, and 8. Discuss the project end date and specify to what extent it is likely that the project will take longer than currently indicated. Justify your responses.
(Adapted from Martinelli & Milosevich, 2016, Figure 14.7)