Question 3 (25 marks) As the Project Manager for the EduStream project, you have received a report developed by JPMedia, which includes the following two tables. The figures in the first table are based on their expert analysis, which relates to purchasing the licenses for one of three video packages for inclusion in the EduStream system. The expected revenues listed in this lable only cover two years. They have asked you to conduct an Expected Monetary Value (EMV) assessment for them and include the results in the two tables provided below. (15 Marks] Decision Node Cost Chance Node Chance/ Expected Revenue Differential Profit/Loss x Probability for Demand Type [Profit/Loss] Probability COMPANY A This company is offering 200 funny cartoon videos, that support learning across many subjects for Primary School students (Years 1 to 6). The licensing only covers use in Australia, and it is only valid for two (2) years. A review by the Department of Education in Western Australia identified that these videos were generally good and engaging for students. Option 1: 1A: Strong $967,000 Demand 5620,000 18: Moderate $745,900 Demand 1C: Weak Demand $354,400 COMPANY B This package provides worldwide rights to utilise 60 videos, which are pitched at engaging teenage students in Science, Technology, Engineering and Maths (STEM) subjects within secondary schools (Years 7 to 12). Many schools have reviewed these videos as being excellent, and the schools indicated that they helped their students to learn. The company is also a local Western Australian company, and it is adding new videos to the collection all the time. All videos will be available for the price listed below and will be Option 2: licensed for unlimited use over 20 years. 2A: Strong $920,000 Demand 28: Moderate $595,000 25% $860,000 Demand 2C: Weak $480,000 Demand COMPANY C The 100 videos covered in this offer are focussed on a range of History curriculum-related topics, which are suitable for use in secondary schools. A review provided by several schools who are current EdMI clients indicated that about 60% of these videos were useful and engaging for most students. This agreement would provide a global license, which lasts for five [S] years. Please note that this company is actually licensing these videos from other overseas suppliers and that it is a fast growing company in the UK. Option 3: 3A: Strong $790,000 Demand 38: Moderate $435,000 Demand $546,000 3C: Weak Demand $340,000 EMV Company A EMV Company B EMV Company C Make some recommendations on which one of the three packages should be selected. To do this, you will need to provide the following information in short and clear dol-points [10 Marks) Which option achieved the highest result from the EMV calculation? ICT201 IT Project Management Page 4 of 6 Discuss other issues that you think will be important in terms of selecting the right package for inclusion in EduStream, such as risks, value for money, and limitations related to the methods ulilised in the analysis (e.g., just assessing two years of revenue) Considering the preceding points, which package would you recommend