Given the Assumptions in PERT, the Probability That a Project

question 141

True/False

Given the assumptions in PERT, the probability that a project will be completed in less time than required by the activities on the critical path is approximately 50%.

---

Definitions:

Strategic Plan

A document that outlines an organization's long-term goals and the strategies it will use to achieve them.

Competitive Strategy

A long-term plan formulated by a company to gain a competitive advantage over its rivals in the industry.

Operating Budget

A comprehensive forecast that outlines expected revenue from sales and all anticipated expenses over a specific time frame, typically one year.

Sales Budget

An estimate of the amount of revenue that will be generated from sales during a specific period.