Question 1:
What do you mean by crash duration? Explain the Time-Cost Optimization algorithm
- crash duration/crash time - explanation including figures
- Steps of Time-Cost Optimization algorithm
Describe how you can choose an appropriate forecasting model
• Guidelines for Selecting a Model for the Purpose of Forecasting
• Performing a Residual Analysis
• Measuring the Magnitude of the Residual Error Through Squared or Absolute Differences
• Mean Absolute Deviation
• Principle of Parsimony
Question 2:
a. Prepare a note on Graphical Evaluation and Review Technique
A Explanation of GERT
How GERT accommodates contingency of PERT
Describe the time-series smoothing
A Moving averages
Exponential Smoothing
Show how you will forecast project cost at completion