1. What is the importance of collecting lessons learned from your project? When should it be done ?

2. Why formally closing a project and collecting lessons learned is considered a best practice in project management?

3.

cost M1 M2 M3 M4 M5 task1 $ 10,000.00 task2 $ 20,000.00 task3 S 5,000.00 task4 S 3,000.00 task5 S 8,000.00 task6 S 4,000.00 task7 $ 30,000.00 Your project reached the end of month 2 and you have completed Tasks 1,3,4 and 6. You started task 7 but you haven't finished it. Your actual cost is $ 35,000.00. Considering the given project information, and using a 50/50 ratio for unfinished tasks, calculate: 1) EV, 2) PV, 3) CPI, 4) EAC, 5) Using EVA, what is your project situation