1) You are the project manager on a software project that is planning out various approaches to technical work. There is a 25% chance that a component you are going to license will difficult to integrate and cost you ETB 55,000 in rework. There is also a 40% chance that thee component will save ETB 35,000 in time that would have been used to build the component from scratch. What is the Expected Monetary Value ( EMV) for these two possibilities?

2) You are managing a project with a total budget of ETB 100,000. According to the schedule, your team should have completed 40% of the work by now. But at the latest status meeting the team reported that only 25% of the work has actually been completed. the team has spent ETB 50,000 so far on the project. How would you BEST describe this project in terms of cost and schedule variance? what would you do to solve the problem?