Problem: Project Process
Activity 1: An activity on the critical path of a project was scheduled to be completed, 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.
a. Calculate the EV of the activity.
b. Calculate the CI and SI for the activity.
c. Calculate the expected BAC using the original estimate approach.
d. Calculate the expected BAC using the revised estimate approach.
e. Compare and discuss the results obtained in parts (c) and (d).
Activity 2: 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.
Textbook: Project Management by Shtub, 3rd Edition. ISBN: 9780134478661.
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.