Earned Value Management

QUESTION 1     [15 MARKS]
Conduct a risk analysis on your chosen project, clearly showing the impact and likelihood of specific risks. Be sure to determine the risk acceptance criteria, risk acceptability and what action will be proposed to reduce the risk.
QUESTION 2     [10 MARKS]
Discuss the earned value management (EVM) technique and its role in forecasting and controlling performance of your chosen project.
QUESTION 3      [5 MARKS]
Together with monitoring and control is the process of reporting on progress. Discuss what you would include in the project progress report of your chosen project.
QUESTION 4     [10 MARKS]
During which development stage of the project management life cycle would leadership be likely to acknowledge successes and failures of the project? Justify your answer, and critically discuss how you could manage potential failure and success factors.
QUESTION 5      [5 MARKS]
Present a sample project closure checklist that you would use to close your project effectively.

QUESTION 6

6(a) For Poh Eng’s 5-year limited premium whole life plan, she needs her husband’s and children’s written approvals before she can revoke her insurance nomination of beneficiaries. State the validity of this statement.     (4 marks)
6(b) Poh Eng came to know that the CPF Board has established the Special Needs Savings Scheme (SNSS) for parents of children with special needs. You are required to describe the following:
(i) What is the purpose of the Special Needs Savings Scheme?    (2 marks)
(ii) How can parents increase their accumulation for their child under the SNSS?    (4 marks)
6(c) Upon her Death, Poh Eng wishes to give her assets shown below to the stated beneficiaries. You are to advise her the most effective way of planning her estates:
(i) CPF Account Balance to her sister.    (4 marks)
(ii) Savings and Shares to charity.    (4 marks)
(iii) Insurance Policies’ Proceeds to Julian Lim and Matthew.    (4 marks)
6(d) From the case study, briefly explain what possible actions Poh Eng can take to address the estate planning needs of her mother and children?    (12 marks)