IT PROJECT MANAGEMENT ASSIGN2 - QUESTION 2

Earned Value analysis is an important tool to measure the performance of a project. It is a program management technique that uses "work in progress" to indicate what will happen to the work in future. It compares the actual work performed against a baseline plan. In this way, the analysis helps in setting a standard for performance evaluation and controls the time and cost constraints. It also helps in identifying the critical activities which maybe noted down and taken care of during further progress of the project 2.1 How can the project managers keep track of the possible areas that are prone to risk? 2.2 Explain a strategic assessment, technical assessment, cost-benefit analysis and risk evaluation in the process of project evaluation. 2.3 Explain how to break the total project works and some major parts of the works into smaller and manageable item. Relate your answer to project phases, costs, work package, activities, activity ID, and Work Breakdown Structure