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The Complete Idiot's Guide to Project Management, 5th Edition by G. Michael Campbell PMP, G. Michael Campbell, Sunny Baker

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Weighing the Risk

After getting information on the labor requirements and activity durations from various sources, you need to use your judgment to determine the duration you’ll actually assign to the schedule. Each of these durations has a risk associated with it. It’s often useful to come up with a best-case schedule and a worst-case schedule based on these risks. For example, the project manager for Project Alpha may estimate it will take the team one month to design and build the various reports the company will require after the new CRM software is implemented. However, if the project manager only has one person with the skills to complete the design, there is risk. What if the developer gets sick? Or is involved in an automobile accident ...

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