Q1) you are a project for a major telecommunication network with a NPV 10,000,000US. You are heavily dependent on third party for your project and your contract office inform you that there is a chance of 30% that the vendor will go out of business at the end of the quarter. if that occurs, your project will incur a US 3,000,000 cost overrun due to rework. Theres also 30 percent chance that a new legislation will pass that will decrease government oversight of your team's work. If this legislation passes, you estimate that your project will save US 1,600,000 in time delays. Lastly, your technical lead indicates that there is 20% chance that a new software package will be available by month end that could save US 1,800,0000  in testing time. If available, the software will cost US500,000 to procure, install and train. What is the total EMV of these three risk events?

 

Answer is US 160,000

 

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Q2) 2 teams members are currently documenting and verifying the product, while other team members are updating records, performing an audit, and archiving lessons learned. What activity are the team members engaged in?

 

My answer is close procurement coz performing an audit and verifying products occur there. Am I right?

 

Would you please clarify thes to me? thanks,