When Completing the Forward Pass, the Project Duration Is Determined

question 61

Essay

When completing the forward pass, the project duration is determined.A project duration of 90 days doesn't mean that if the project were to start today it would be complete in 90 days.Explain.

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Definitions:

Random Number Intervals

Ranges used in simulations that represent probabilities of different outcomes occurring.

Probability Distributions

Representations or functions that describe the likelihood of different outcomes or values within a range for a random variable.

Analytical Models

Mathematical representations that describe real-world processes, systems, or problems to facilitate decision-making and problem-solving.

Monte Carlo

A computational algorithm that relies on repeated random sampling to obtain numerical results, often used in physical and mathematical problems.