Optimum Budget Allocation Method for Project with Critical Risk by Tomoichi Sato
Optimum Budget Allocation Method for Project with Critical Risk by Tomoichi Sato
A project, irrespective of the field it is in has numerous constraints; the constraints are categorized using three criteria; budget, quality, and time (Bosworth, 1995, p. 46). The constraints of the project affect the outcome, with risks and threats associated with these constraints in the project’s cycle. This can be seen under various coverage of the project, for instance, in the execution phase, certain steps that may result with the project failing and/or decline of the quality standards associated with the approach on a specific project ...