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Illustrates the Project Evaluation and Review Techniques?
PERT (Project Evaluation and Review Techniques):
The technique of PERT helps provide better time evaluation for a project, by accounting for the uncertainty while predicting task durations. When a demonstration, the project manager could evaluate the worse, best and most possible duration of time for every activity and then find out an ‘average’ completion time. It can be undertaken by assigning possibilities to the three estimates and computing an ‘expected value’. The average time of every activity would in that case be used to configure the elapsed time of that project.
Reduction in Costs : An efficient quality control system reduces the cost of production of the product due to reduction in wastage of raw materials, semi finished and finished good
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Project risk profile owners Project risk profile owners must make sure that they deal with each and every risk of the project. The responsibilities of the project risk owners
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