“Decisions could be classified on the degree of repetitiveness of the decision, level where the decision is made and on the level of the certainty of the decision.” Thoroughly discuss all these types of decisions
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“Decisions could be classified on the degree of repetitiveness of the decision, level where the decision is made and on the level of the certainty of the decision.” Thoroughly discuss all these types of decisions.
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- Which of the three options from the decision tree structure should be used in a particular project? You feel that the solution lies in gathering information and making decisions.A company is setting up an assembly line to produce 90 units per hour. The table below identifies the work elements, times, and immediate predecessors. Work Element Time (Sec.) Immediate Predecessor(s) A 25 - B 18 A C 20 A D 5 B, C E 12 C F 8 E G 16 D, F H 12 G Use one of the heuristic decision rules described in Table below to balance the assembly line so that it will produce 90 units per hour. Clearly state the decision rule you use and complete the below table using the selected rule. Decision Rule Logic Longest work element Picking the candidate with the longest time to complete is an effort to fit in the most difficult elements first, leaving the ones with short times to “fill out” the station. Shortest work element This rule is the opposite of the longest work element rule because it gives preference in workstation assignments to those work elements that are quicker. It can be tried…Can a chain of decisions be built using dynamic programming? I don't know what to do.
- SWOT, in design process, stands for Seeking Ways Out Together. The basic structure of decision making must end by clarifying the issue that needs a satisfactory solution. True or False?Which of the three decision tree structure alternatives should be utilized in a particular project? You believe that data collection and decision-making are critical to arriving at a solution.For this assignment, you will design a risk management plan for a project titled “prolonged waiting times for patients in a large outpatient hospital” that will include the following elements: Risk Register/Matrix (list of at least 5 (five) risks along with the associated impact and probability scores along with risk score) Contingency plan (list of any risks you will plan for in advance along with what triggers the contingency). Be sure to include any information useful to stakeholders on the rationale for the creation of these elements as well as any outside references supporting the risk management plan.
- Managing a project may be challenging, particularly when many departments must collaborate. When each department works on a project, they'll almost certainly employ a technique that they're most familiar with to get the outcomes they desire. Due to variations in approach and technique, this might make project cooperation across departments challenging. When working on a bigger project with multiple moving elements that must finally coordinate, project problems might arise. The project will slow down, become less productive, and potentially grind to a standstill if these pieces are not properly aligned. Project integration management is used to bring together the many departments and aspects of a project. Project integration management is a technique for coordinating many activities. It takes the many processes utilised in a project and ensures that they are coordinated. Making trade-offs is how project integration management does this. That implies you won't be able to have it all if…A project has the following risks. 40% chance of schedule delay costing $3,000 20% chance of success of a new methodology saving $4,000 a 50% chance of a legal obligation which costs $3,000 a 50% chance of unexpected savings of $10,000 What is the expected monetary value of this project? $20,000 $8,000 -$1,400 $3,100Do the engineers face the decision problem involving the selection of the best course of action when there are several ways to meet a project's requirements?
- An engineer failed to finish its building construction contract on time. With this, a penalty of P10,000 will be paid for each day that passes beyond the date of contract. According to the engineers estimate, if the construction will continue with the same number of workers, the project will be finished 30 days after the contract date. But the engineer also has an option of hiring more workers to hasten the construction process. Every additional worker, the engineer has to pay P3,000 per day and every 3 additional workers the construction period will be lowered down by 1 day. But, the engineer can only hire 21 workers. If you are the engineer, what method are you going to follow so as to incur a lesser amount of extra construction cost? Just pay P10,000 per day for 30 days? Or just hire additional workers to lower down the construction time?Which three choices from the decision tree structure may be applied to a project? Gathering facts and making choices is what you believe is the answer.Mike is the manager of the DEF project. This project will cost Mike’s organisation $90,000 per day if it runs over schedule. With four months to completion, Mike realises the project is behind schedule. He decides to change the relationship between some work packages so that they begin in tandem rather than sequentially. This is an example of___________. Group of answer choices Crashing Expert judgment Fast tracking Cost-benefit analysis