PERT calculations typically include the duration variance of each activity. What is the purpose of this calculation, i.e. what's the role of variances in PERT analysis?
What will be an ideal response?
The activity variances influence the probability of project completion. Specifically, the sum of the variances of the critical tasks equals the variance of the project. Further, large variances on noncritical tasks need to be monitored. Such an activity might have an actual completion time so large that the task becomes a critical task.
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The objective of the second phase of network design is to
A) select a precise location and capacity allocation for each facility. B) select a set of desirable sites within each region where facilities are to be located. C) identify regions where facilities will be located, their potential roles, and their approximate capacity. D) specify what capabilities the supply chain network must have to support a firm's competitive strategy.
Which of the following is a way in which formal institutions affect international competition?
A) decreasing trade restrictions B) enforcing organizational laws C) enforcing antidumping laws D) enforcing strict exit barriers