What is project crashing and what are three reasons why it might be important to do so?
What will be an ideal response?
The process of accelerating a project is referred to as crashing. Crashing a project directly relates to resource commitment. The more resources we are willing to expend, the faster we can push the project to its finish. There can be good reasons to crash a project, among them are:
The initial schedule may be too optimistic.
Market needs change and the project is in demand earlier than anticipated.
The project has slipped considerably behind schedule.
The contractual situation provides even more incentive to avoid schedule slippage.
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Which of the following statements is likely to be correct for a decision tree which indicates a 30 percent chance of making a $250,000 profit and a 70 percent chance of sustaining a $140,000 loss?
A) the expected value is negative before discounting. B) the expected value is positive before discounting. C) the decision should be "yes" whenever the amount of possible profit exceeds the amount of possible loss. D) the decision should be "no" whenever there is a possibility of loss.
Financial accountability and social responsibility marketing are elements of ________ marketing
A) performance B) relationship C) internal D) social E) mass