Review for Exam 2 (100 points)
Define and discuss the following concepts:
Stages of team development
Roles & responsibilities tools & techniques
Four stages of risk management
Sources of risk
Differences between quantitative & qualitative risk assessment
Risk mitigation responses
Risk control & documentation
Be able to discuss any of the above issues as they pertain to the Spanish Navy Case (Chapter 7)
Be able to:
Integrate a performance measurement with “Earned Value” concepts using the “IDEA” model. This will be 50 points out of the 100 points total.
Step One: I- IDENTIFY the problem and set priorities
Calculate totals for key constructs: BAC, PV(to date), AC, EV
Step Two: D- DEEPEN understanding and gather relevant information
Answer Question 1: How are we doing?
Step Three: E- ENUMERATE options and anticipate consequences
Answer Question 2: How bad is it going to get?
Step Four: A- ASSESS the situation and make a preliminary decision
Calculate CV’s & SV’s for each task and interpret
Closed book, closed notes. You need to know the formulas as discussed in class, notes and book for: Cost Variance (CV); Schedule Variance (SV); Cost Performance Indice (CPI); Schedule Performance Indice (SPI); Estimate at Completion (EAC); and Variance at Completion (VAC).
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