The consequences of not reporting early completion times were discussed. Modify the simulation model you created for
Question:
The consequences of not reporting early completion times were discussed. Modify the simulation model you created for Exercise 16 above so that early completion of the tasks before the scheduled time of 10 days is not reported. Compare your results to the results obtained in Exercise 16.
Data from Exercises 16
A simulation model was developed to illustrate the problem with assuming activity times were known with certainty. However, in the simulation analysis, the activity times were assumed to be normally distributed. Do you have any concerns with assuming that the activity times were normally distributed? Redo the simulation analysis using a BetaPERT distribution with parameters of 7, 10, and 15, for the optimistic, most likely, and pessimistic times estimates. How do the results compare with the results obtained using a normal distribution?
Step by Step Answer:
Project Management A Strategic Managerial Approach
ISBN: 9781119803836
11th Edition
Authors: Jack R. Meredith, Scott M. Shafer, Samuel J. Mantel Jr.