Should rov prepare a proposal

Assignment Help Management Theories

Reference no: EM133212977

Question: The ROV Contractors, Inc, has been asked to submit a proposal for developing a new product. The cost of bid preparation is P8000. It is estimated that if ROV submits the proposal, the chances are 50-50 that the bid will be accepted. It is not certain that the product can actually be developed, but there are 3 methods of development, of which only one should be chosen. Method A will cost P100,000 and has 80% chance of success. Method B will cost P30,000 with 60% probability of success. Method C will cost P20,000 and the probability of success is 45%. IF the company receives the contract and develops the product, it will receive P5 million. No penalty is charged for failing to produce the product. Should ROV prepare a proposal?

Reference no: EM133212977

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