PART 1: Gantt vs. Network Based Approach
What are the main advantages of using a network-based approach to project management rather than a Gantt chart? Under what circumstances might a Gantt chart be preferable to a network-based approach? Respond to at least two of your classmates' postings.
PART 2: Expected Values and Decision Trees
Consider the two capacity options for Arktec manufacturing from Problem 2 and the three possible demand scenarios from Problem 4. First, draw the decision tree for Arktec Manufacturing. When drawing your tree, assume that managers must select a capacity option before they know what the demand level will actually be. Then, calculate the expected value for each decision branch. Which option would you prefer and why?