## NPTEL Project Management Week 3 Assignment Answers 2024

1. Question 1 to 4 is based on the information given below:

A steel factory’s management is considering three courses of action: To arrange for subcontracting (S1), to begin overtime production (S2), and to construct new facilities (S3). The correct choice depends largely upon the future demand, which may be low, medium, or high. By consensus, management ranks the respective probabilities as 0.10, 0.50 and 0.40. A cost analysis reveals the effect upon the profits (in Crores). This is shown in the table below (all data is in Rs. Crores):

What is the Expected Monetary Value (EMV) or the Expected Payoff of the course of action S1 (Rs.)?

- 75
- 68
- 46
- None of These

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2. What is the Expected Monetary Value (EMV) of the course of action S2 (Rs.)?

- 75
- 68
- 46
- None of These

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3. What is the Expected Monetary Value (EMV) of the course of action S3 (Rs.)?

- 75
- 68
- 46
- None of These

Answer :-

4. Based on the values of the EMV, the decision at node 0 will be to:

- Subcontracting S1
- Begin Overtime S2
- Construct New Facilities S3
- Both (A) and (B)

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5. A multifactor evaluation process is preferred to the analytic hierarchy process when

- there is high confidence in determining factor weights without pairwise comparisons.
- there is low confidence in determining factor weights without pairwise comparisons.
- one desires a lesser level of computational analysis.
- one desires a greater level of computational analysis.

Answer :-

6. Question 6 to 9 is based on the information given below:

Mr. Anirban wants to purchase a new personal computer. He is looking for cost, user-friendliness, and software availability as his objectives to conclude which computer he should purchase. The pairwise comparison matrix for these objectives is as follows:

Three computers are being considered for purchase. The performance of each computer with regard to each objective is indicated by the following pairwise comparison matrices.

For cost (low cost is good, high cost is bad!):

For user-friendliness:

For software availability:

What is the average value of the Consistency Vector (λ)?

- 3.033
- 3.025
- 0.012
- 0.021

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7. The consistency ratio (CR) is **_______** .

- CI/(RI-1)
- RI/CI
- (λ-n)/{RI*(n-1)}
- None of these

Answer :-

8. What is the value of CR of the given problem?

- 0.58
- 0.0123
- 0.0213
- 47.044

Answer :-

9. In a decision tree, what does a leaf node represent?

- A decision point
- An end result or outcome
- A dataset
- A branching point

Answer :-

10. Mr. Banerjee is willing to pay $1 for a lottery ticket that has an expected value of zero. This proves that Mr. Banerjee

- is risk averse.
- has a certainty-equivalent coefficient that is equal to one.
- is risk neutral.
- none of the above is correct.

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