SOFTWARE PROJECT MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Question 38 of 100Question ID:613117You need to hire one contractor. You are leaning toward one who has an 80% chance of delivering in one month with a cost of $5, 000, and a 20% chance of delivering in two months with a cost of $10, 000. Another contractor has a 90% chance of delivering in one month with a cost of $6, 000, and a 10% chance of delivering in two months with a cost of $12, 000.What technique would you use to select the contractor?
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AMonte Carlo analysis
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BSensitivity analysis
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CDecision tree analysis
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DInfluence analysis
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Explanation:
Detailed explanation-1: -A Turnkey Contract is one under which the contractor is responsible for both the design and construction of a facility. The basic concept is that in a Turnkey Contract the contractor shall provide the works ready for use at the agreed price and by a fixed date.
Detailed explanation-2: -All projects require the following: Clients to check the competence of all their appointees; ensure there are suitable management arrangements for the project; allow sufficient time and resources for all stages; and provide pre-construction information to designers and contractors.
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