1) You are the project manager for the new product design project; you're doing an Earned Value Management analysis and have determined that the earned value is $20,000 and the actual cost is $18,000. The planned value is $19,000. What is the cost variance, and what does this number tell us? How would you determine the relative magnitude of the variance and how bad/good it really is?

2) What are the 4 stages of Tuckman's model of team performance? In your own words explain why some teams can get stuck in the storming stage?

3) There are different ways to tailor your approach to any given project.

Give an example of a specific project that should use a waterfall approach and explain your reasoning.

Give an example of a specific project that should use an agile approach and explain your reasoning.

4) Referring to the quiz case study: there's conflict between Monica and Zee around the budget. Resources, labour, and parts are all more expensive than budgeted. Given what you know about Monica and Zee, what strategy would you use to manage this conflict?