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When a project is under way, how can value management be utilized to estimate proposed changes?
While potential changes to a project have been acknowledged, value management can be utilized to assess the business advantage that implementing them would generate and to compare this advantage with the costs of making the change. Therefore, value management can supplement conventional approaches to the change control.
Suppose that a particular large hotel has 790 rooms. Furthermore, suppose that the hotel's marketing group's forecast is normally distributed with a mean demand of 730 rooms and a
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