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Optimistic and Pessimistic Durations

QUESTION

Dear Mr Risk,

I have populated my schedule with optimistic and pessimistic durations that sit around the durations assigned in our proposed baseline. We have run our analysis package and produced a very nice ‘normal curve’ with various percentages showing at the 5% and 95 percentile and various completion dates.

Should we be doing something with the costs assigned to the schedule as it seems sensible that cost, or budget, would be proportional to the various resultant schedules; the short ones, the on-time one and the very delayed ones?

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