**NPTEL Project Management Week 3 Assignment Answers:-** In this post, we have provided the answers to the NPTEL Project Management Week 3

## NPTEL Project Management Week 3 Assignment Answers 2022

Answer:- On the off chance that two methodologies have the same expected benefit, select the one with the smaller standard deviation.

Q2. Which of the following is a schematic model of alternatives available to the decision maker along with possible consequences and alternatives?

Answer:- Decision making model

Answer:- Probabilities for all branches leaving a chance node must sum to 1.0

Q4. A _________ is a decision support tool that uses a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility.

Answer:- Decision tree

Answer:- Risk

Q6. The objective of using decision trees is to

Answer:- To specify sequence of conditions to be tested and actions to be taken

Q7. How the decision tree reaches its decision?

Answer:- Sequence of test

Answer:- Neutral.

Q9. Strategy A has an expected value of 10 and a standard deviation of 3. Strategy B has an expected value of 10 and a standard deviation of 5. Strategy C has an expected value of 15 and a standard deviation of 10. Which one of the following statements is true?

Answer:- A risk averse decision maker will always prefer A to B, but may prefer C to A.