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Consider this project scenario: You have built a project WBS and estimated the work in each work package. The total project cost is expected to

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Consider this project scenario: You have built a project WBS and estimated the work in each work package. The total project cost is expected to be $200K for both labour and materials. A comprehensive list of project risks is available. All of the risk have been eliminated except the following 5. Using expected monetary analysis, determine the following for each risk, present the answer collectively based on all risks: -> expected cost impact --> expected schedule impact --> worst case total project cost --> worst case schedule impact Risk 1: Expected Cost $20K, Schedule delayed 4 weeks, probability 25% Risk 2: Expected Cost $60K, Schedule delayed 20 days, probability 25% Risk 3: Expected Savings $30K, Schedule delayed 4 weeks, probability 50% Risk 4: Expected Cost $7.5K, Schedule delayed 10 days, probability 80% Risk 5: Expected Savings $20K, Schedule reduced by 2 weeks, probability 30% Paragraph v BI UVA V

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