Question 23 2 pts What is the difference between issues and risks? Issues are factors that are I Risks are in the project In Earned Value Management what does an EAC (Estimate at Completion) above and to the right of the BAC (Budget at Completion mean for the project? An EAC point above and to the right of the BAC point means the project is projected to cost consume and take expenditure than planned 1. Given the three types of cost estimates below, what are their levels of accuracy? Example: -25% to +75% Rough Order of Magnitude - Budgetary- Definitive- Define what the critical path is in a project. Why are project managers trying to determine this when they are creating network diagrams? (4 marks) It is the sequence of the project network activities which add up to the longest overall duration. This determines the shortest time possible to complete the project. This provides the project Let's assume that that a project has 2 tasks, Task A and Task B with the estimates shown below. What is the PERT value for Task A and Task B? Name of the Optimistic Task Estimate Pessimistic Estimate Most Likely Estimate PERT Value 4 Task A 3 5 TaskB 6 12 6