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Discuss the following apparent contradiction: If at the start of an MS/OR project all costs and potential benefits were known accurately, the project would not
Discuss the following apparent contradiction: If at the start of an MS/OR project all costs and potential benefits were known accurately, the project would not get off the ground. However, if the total costs and potential benefits can only be ascertained with some confidence after the model has been tested for performance, but prior to its implementation, the correct decision may be able to proceed with implementation. What implications does this have for evaluating costs and benefits of MS/OR projects
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This apparent contradiction arises from the inherent uncertainty and complexity involved in MSOR Management ScienceOperations Research projects and the dynamic nature of decisionmaking processes Lets ...Get Instant Access to Expert-Tailored Solutions
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