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These models are applied to the management ( planning controlling and scheduling ) of large scale projects. PERT/ CPM techniques help in identifying potential trouble spots in a project through the identification of the critical path. These techniques improve project co ordination and enable the efficient use of resources, network methods are also used to determine time cost trade off resource allocation and updating of activity times.
make a research project for modern day companies on how they can make decisions using decision analysis
Importance of models
Which model is described as a rule of thumb
A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i
This methods studies development from simpler forms through a long series of a small change. Each change by itself results in minor modification in the phenomenon but the
Problem 1 Explain the key elements, which contribute to a sound and effective strategy. >>Explanation of following elements Market Consumers Competition Skil
maximum 3x1+x2+x3-x4 subject to x1+5x2+3x3+4x4 x1+x2=-1 x3+x4
mile-high microbrewery makes a light beer and a dark beer. mile-high has a limited supply of barley, limited bottling capacity, and a limited market for light beer. profits are $0.
Importance of Normal Distribution Normal distribution plays a very important role in statistical theory and in particular in sampling theory. It has been found th
Consider a queueing system with 1 counter, to which groups of customers arrive according to a Poisson proces with intensity l. The size of a group is 1 with probability p and 2 wit
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