Project: Construction of a new office building in Parramatta Scope: Construction of a 10-story office building with a total floor area of 20,000 square meters Schedule: The project is expected to take 18 months to complete, with a planned start date of January 1st 2024 and a planned end date of June 30th 2025. Budget: The total budget for the project is $60 million. Assumptions: The project will be divided into 6 phases, each taking 3 months to complete. Tasks 1: The project manager will use earned value management (EVM) to track the project's progress. Question 1.1: Use EVM to track the project's progress and calculate the following metrics (table 1): ? Planned value (PV) ? Earned value (EV) - calculate based on the % completion ? Actual cost (AC) - make reasonable assumption of the actual cost yourself ? Schedule variance (SV) ? Cost variance (CV) ? Schedule performance index (SPI) ? Cost performance index (CPI) Question 1.2: Analyse the EVM data to identify Task 2 There are some challenges of above project at the initial stage: The site is in a densely populated area and is prone to traffic congestion, which may impact the delivery of materials and equipment. The project timeline is tight, with a deadline of 18 months from the start of construction to completion. The project budget is limited and cost overruns must be avoided. Question 2.1: please advise the procurement method could be used for delivering this project with clarification Question 2.2: please select a tender process of selecting a contractor for this project (include steps) Task 3 As an assistant project manager specializing in risk management, you are consulted about whether to invest $150 million to build a new commercial building or to instead invest only $80 million to upgrade the existing building. The market demand for the building is uncertain. Based on a recent market study, there are (*)%, (*)%, and (*)% probabilities of a strong, medium, and weak market demand, respectively, for the building. A strong demand leads to $250 million revenue with the new building but $120 million for the upgraded building due to its limited capacity. A medium demand brings $180 million revenue with the new building but only $70 million for the upgraded building. Further, a weak demand only brings $60 million and $120 million revenue with the new building and the upgraded building, respectively. * Each student chooses a percentage of probabilities yourself of the three market demands Use the decision tree analysis technique to help make the decision.