This is the first page of the assignment

Note: In the third question, understand the short forms as:

BCWS (PV) - Budget Cost of Work Scheduled (Planned Value)

ACWP (AC) - Actual Cost of Work Performed (Actual Cost)

BCWP (EV) - Budget Cost of Work Performed (Earned Value)

So, please do not mistake for something else during answering.

3. Briefly Explain the following EVM (Earned Value Management) techniques. a. BCWS (PV), ACWP (AC) and BCWP (EV). b. Why should a project manager understand EVM. (20 points) 4. The table below shows the estimate for a project in which you have been assigned the project manager (PM). The previous PM was in the process of developing the cost estimate when she was promoted and asked to lead a more complex project. You were asked to take over and you jumped at it the opportunity to lead your first project. Your next deliverable as the new PM is to complete the cost estimate below. When completing the cost estimate you're expected to make some reasonable assumptions since you don't have all the facts. (20 points) a. What is your cost of testing? Note you can make any assumption but clearly state the assumption. (10 points) b. What is the total amount estimated for the flexible account? (10 points) Level Item Unit/Hrs Unit Total Calculate % of Item Cost cost allocated to each level item 1 PM PM 240 80 19.200.00 Project teams 480 70 33,600.00 members 2 Hardware Equipment T1 200 Equipment T2 4 3 Software Development 50 4 Testing 5 Flexible account/buffer (Allocated to traveling, training, Team skill development, administration , and meeting 6 Total Project Cost 198,750.00( Back Scope and Cost Assignment v_... v This is an individual assignment and any form of collaboration on this assignment will be considered as plagiarism. If you have any question, please ask me by email. DZL submission must be before the due time. Play back the class lecture on Scope and Cost before you answer these questions. Answer'all the questions. Note that your paper must be tuned in before the due time. The system will not allow you to submit late, and 1 only accept submission by d2l. No late submission! 1. Why is it important to clearly dene project scope in Traditional project management? (20 points) 2. Base on the class lecture on cost explain the following along with example (40 points) a. Tangible Cost b. Direct Cost c. Indirect Cost (1. Sunk Cost 3. Briey Explain the following EVM (Earned Value Management) techniques. a. BCWS (PV), ACWP (AC) and BCWP (EV). b. Why should a project manager understand EVM. (20 points)