how would you go about the following project planning question?
a project has a mean duration of 33.66 weeks and a standard deviation of 2.53 weeks. 1. what are the chances that the project will be completed in 35 weeks? 2.what contract period should be negotiated to give the project a50% chance of completion on time? 3. what contract period should be negotiated to give [...]
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As an Engineer I would say that if the project is contracted to finish in 33.66 weeks then there are financial penalties for it not being completed then – so put more people, or overtime on to complete the project and it will be there 100% of the time.
If you want to make sure it is completed, quote the 33.66 weeks and add a couple on top, say 37 weeks and this can be reduced to say, 35 with the client who thinks they have negotiated well yet there is still time to complete the project
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