Question 1: Cost Estimation and Project Budgets (35 Marks)1.1 Cost Estimation Techniques (15 Marks) Define and critically analyze three cost estimation techniques used in project cost management. Explain their advantages and disadvantages. Use examples to illustrate their application. 1.2 Project Budget Compilation (20 Marks) Using the following project data: Direct Costs: R500,000 Indirect Costs: R150,000 Contingency Allowance: 10% of total costs Prepare a detailed project budget. Explain the purpose of including contingency allowances and their impact on project risk management. --- Question 2: Financial Analysis and Project Viability (35 Marks)2.1 Key Project Performance Ratios (15 Marks) Using the following financial data, calculate and interpret: Current Ratio Debt-to-Equity Ratio Return on Investment (ROI) Data: Total Current Assets: R800,000 Total Current Liabilities: R400,000 Total Debt: R1,200,000 Total Equity: R2,000,000 Net Income: R300,000 Total Investment: R1,500,000 Discuss the implications of each ratio for project stakeholders. ---2.2 Earned Value Management (20 Marks) You are managing a project with the following details: Planned Value (PV): R1,000,000 Earned Value (EV): R800,000 Actual Cost (AC): R900,0001. Calculate the following: Cost Performance Index (CPI) Schedule Performance Index (SPI) Cost Variance (CV) Schedule Variance (SV)2. Interpret the results and advise on corrective actions for improving project performance.