1. The Audit Report, six elements are listed that should be included in every audit report. For each element, explain why its inclusion is important.

2. The following information concerns progress at day 40 of an Internet marketing project. Determine if the project is in control based on time and cost to date. If not, what is the cost overage or underage ?

Activity	Duration	Budget	Actual Cost	% Complete
1-2	10	300	250	100.00
2-3	8	400	450	100.00
2-4	12	350	380	100.00
4-3	0	0	0
3-5	18	405	400	70.00
5-6	16	450	-------	0.00

3. A Project has just completed the 87^th item in its action plan. It was scheduled to have spent $168,000 at this point in the plan but has actually spent only $156,000. The foreman estimates that the value of the work actually finished is about $162, 000. What are the spending and schedule variances for the project? What are the SPI and CPI?

4. What elements of the termination process maybe responsible for making a project unsuccessful ?