Individual Exercise

Consider the purchase of a house. Develop a profitability model to compare alternative houses. Include depreciation, expenses, repairs, insurance, initial costs, and so on.

Next, devise a scoring model to evaluate the alternative purchases. How should you weight the various factors, and how do you decide?

Last, how would a risk analysis be used to make a decision? What factors would require distributions, and how might these be obtained? Which data are subjective and which objective? Which are qualitative and which are quantitative?

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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