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Question:
Read carefully the section on Time Estimates in Appendix 8.1 The Critical-Chain Approach.
This section points out the very common phenomenon of people padding the time estimates by "just in case" safety and project managers adding a safety to the project completion time.
The authors ask a very pertinent question, "Why, if there is tendency to overestimate activity durations and add safety to the end of the project, do so many projects come in behind schedule?"
Authors then go on to the explanations offered by the Critical-Chain Project Management (CCPM).
Do those explanations ring bells to you? Do you agree with those explanations? Comment based on your personal or professional experience.
Verified Expert
The paper is about how project manager always takes some safety time while he is estimating for a certain project and how in some situation this also falls short. The paper reviews the views of the author asking whether he believes in this is not and how would he be able to justify his point based on the professional and personal experiences that he has encountered in his life. It tries to bring out how the work can be delayed because of unanticipated actions that cannot be included in the timelines while estimation is done. The paper has been written in Microsoft Office and is of 250 words.
Present value information is given below so what was Salem's expected net present value for this project
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