Problem Set #2: Decision Tree This problem set covers material for Week 7, Risk Analysis. Decision Tree Analysis is an […]
Tag: EMV
Describe the process you will use to determine risk triggers (the event that tells you that the risk event is imminent).
Risk Management Plan The Project Management Institute (2017) describes ten strategies for responding to project risks. Five strategies are used […]
Develop a decision tree to maximize Ventron’s expected monetary value (EMV).
Uncertainty Read Case 6.4, “Developing a Helicopter Component for the ARMY.” For Part 1 of this assignment, using an Excel […]
Develop a decision tree that can be used to solve Chang’s problem. You can assume in this part of the problem that she is using EMV (of her net profit) as a decision criterion. Build the tree so that she can enter any values for p1, p2 , and p3 (in input cells) and automatically see her optimal EMV and optimal strategy from the tree.
Uncertainty Read Case 6.3: Electronic Timing System for Olympics (below). For this assignment, you will assess and use the correct […]
Summarize the approach for developing risk response strategies. For example, which risks will you first attempt to avoid? Will you do it based on the risk factor score (P*I) or on EMV?
Final Project: Risk Management Plan The Project Management Institute (2017) describes ten strategies for responding to project risks. Five strategies […]
