Question 17 (5 points) Techniques for managing merge bias include: (Select all that apply) Use uncertainty addressing actions that reduce impact of general uncertainties and uncertain events associated with the paths of the merging activities C Reserve enough float right after the node that will be sufficient to meet the required confidence level Split the node if too many activities are converging on the node Do not consider earlier start dates for the merging activities Question 18 (5 points) Select all that apply regarding the planning and content of a probabilistic analysis method statement. The method statement is a key document that outlines the scope, schedule, resources, interfaces, and deliverables of the probabilistic risk analysis. Probabilistic risk analysis should never be considered and managed as a mini-project. The previous experience of a project team in providing quality inputs to the analysis should be taken into account when planning the analysis. There is no need to have a probabilistic analysis method statement for conducting probabilistic analysis if project cost objectives have significant general uncertainties and the capital expenditures are expected to be over $500M. O The method statement should reflect the interests of decision makers in particular what-if scenarios.The image depicted above (Raydugin, 2013, p.293) shows primary accuracy range versus probabilistic confidence levels. The values of accuracy are determined from the following expression; (project cost of a paticular confidence level - most likely cost) / most likely cost. If the most likely (e.g., baseline) project cost for this scenario is $100M and it is required to have a confidence level of 95% (e.g., accuracy of 17.6% at 95%), what total cost reserve must be allocated? Hint: the numerator in the above expression represents the total cost reserve. $3.33M $11.1M O $17.6M $4.35Question 11 (2 points) Project Reserve (%% of Base Estimate) vs. Confidence Level 36.086 Primary Accuracy Range +17.6% @ P95 25.095 -3.1% @ P5 20.095 #17.6% @ P95 15.09% +11.1%@ PB0 10.04 Primary Accuracy Range 5.056 0.036 286 710 PIS PIO PIO PIO PIS P40 POPSO PSS PGO PAS -3.1%%@ P5 Auxiliary Accuracy Ranges High-high +29.10 #P100 High-low -14.58: 2P90 -10.040 Project Reserve +11.1% @ P80 Low high 1 642 P10 Low low -12.48:12 PD -15.046 Base Estimate @ P17 Project Reserve Criteria: P80Question 19 (10 points) Activity A1 Convolution of the two curves Activity A2 Mode Merge bias: possible spread of node dates A merge bias occurs when two activities on different paths, such as those depicted here, merge to a single node. If each activity has its own duration uncertainty, the convolution of the two activities may result in a possible larger spread of node merge dates. What techniques may be used for managing merge bias?Question 20 (10 points} ASEiviw 1 Activity 2 Uncertain Event Explain the schedule impact of Activity 3 if an uncertain event occurs as depicted above. Once the event has occurred, how should it be treated? Assume the uncertain event, if it occurs, has a minimum, maximum, and most likely duration