You are the project manager for a new high-rise office building. You are working on estimating the exterior landscaping for the new development. The landscaping requires the use of a special landscape stone. Based on recent experience, the most likely pri

You are the project manager for a new high-rise office building. You are working on estimating the exterior landscaping for the new development. The landscaping requires the use of a special landscape stone. Based on recent experience, the most likely pri

You are the project manager for a new high-rise
office building. You are working on estimating the exterior landscaping for the
new development. The landscaping requires the use of a special landscape stone.
Based on recent experience, the most likely price for the material is
$120.00/ton. However, the price for this stone is volatile, and the price
fluctuates over time based on market conditions and material availability. The
most optimistic price estimate is $100.00/ton, and the most pessimistic estimate
is $200.00/ton.What is the expected price of the material? You are the project manager for a new high-rise
office building. You are working on estimating the exterior landscaping for the
new development. The landscaping requires the use of a special landscape stone.
Based on recent experience, the most likely price for the material is
$120.00/ton. However, the price for this stone is volatile, and the price
fluctuates over time based on market conditions and material availability. The
most optimistic price estimate is $100.00/ton, and the most pessimistic estimate
is $200.00/ton.What is the expected price of the material?

(b) In addition to price fluctuations, you are also
uncertain of how much of the material will be required for the project. Scope
changes and site conditions will affect the amount of material actually needed.
The most likely amount required is 36 tons. However, as little as 32
tons or as much as 44 tons might be required.What is the expected amount
of the material needed for the project? Round to two decimal places.

(c) Using the estimates from (a) & (b) what is
the expected cost for the material over the life of the project using the
COMPLEX method?

Price: £ 45

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