Activity I: An activity on the critical path of a project was scheduled to be completed within 12 weeks, with a budget of $8,000. During a performance review, which took place 7 weeks after the activity was initiated, it was found that 50% of the work had already been completed and that the actual cost was $4,500.
- Calculate the EV of the activity.
- Calculate the CI and SI for the activity.
- Calculate the expected BAC using the original estimate approach.
- Calculate the expected BAC using the revised estimate approach.
- Compare and discuss the results obtained in parts (c) and (d).
Activity II: Identify a new product that is based on an innovation in technology, and draw up a strategic technical plan for its development. Be sure to discuss the risk factors at each stage, and indicate how you would deal with each.