Explain what is expected value without perfect information


Assignment: Project Management

I. Critical Path Analysis

i. Examine the advantages and disadvantages of using the CPA/CPM in a project
ii. Examples how IT/MIS tools can be used to more efficiently do critical path analysis

II. Expected Monetary Value (EMV)

i. What is Expected value with perfect information
ii. Explain what is Expected value without perfect information
iii. Is EVPI important to help project managers make decisions as it pertains to their project environment
iv. Give examples how IT/MIS tools can be used to make this EMV analysis more efficient

III. Resource optimization

With respect to resource levelling and resource smoothing:

i. Examine the differences and similarities between resource levelling and resource smoothing
ii. What is the importance of resource levelling and resource smoothing in project management.
iii. Give examples how IT/MIS tools can be used to do these more efficiently

Format your assignment according to the following formatting requirements:

i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.

ii) The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.

iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.

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