You are a senior project manager working for RETAMART, a retail shopping network that sells various consumer products. As part of the expansion plan approved by the board of directors, you are a project manager for a new plant. Due to transportation problems, the project has experienced delays; the Schedule Performance Index (SPI) is at 0.6 and the Cost Performance Index (CPI) is at 0.7. However, you expect some improvements over the next few weeks, which may increase the SPI to 1.1 and the CPI to 0.9. Which of the following statements is true if your anticipated changes materialize?

You are aware that cost and schedule risks are prevalent in your project. You want to compare the planned project performance with its actual performance during the Monitor Risks process. What should you perform to provide this information?

Funding requirements for a project are usually in incremental amounts that are not continuous. These increments appear as a step function in the graph depicting Cash flow, Cost baseline and Funding. Any gap at the end of the project between the funds allocated and the cost baseline represents:

Lucy is currently preparing a high-level cost estimate for her project in the initiation phase. With the limited detail available to her, what would you expect the range of her estimate to be, and what would you call such an estimate?