Assessing Risk and Benefits. Suppose you are a member of a project team that is evaluating the
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Assessing Risk and Benefits. Suppose you are a member of a project team that is evaluating the bids of potential contractors for developing some subassemblies for your project.
Your boss makes it clear that any successful bid must demonstrate a balance between risk and price. Explain how this is so; specifically, why are price and risk seen as equally important but opposite issues in determining the winner of the contract? Is a low-price/high-risk bid acceptable? Is a high-price/low-risk bid acceptable? Why or why not?
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Project Management Achieving Competitive Advantage
ISBN: 9780134730714
5th Edition
Authors: Jeffrey K. Pinto
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