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Why every two weeks? They probably work for one week and take the next week to figure out a way to explain why they are behind and not doing the work properly or in a timely manner.
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It's the way the management controls the Developers basically. By showing something every two weeks the management thinks that they know what's going on. This is the way the French work. It's not the way the Germans work.
On the other hand it shows how much their management trusts them. And yes most probably they do spend a lot of time trying to figure out what they will say when asked why something did not happen.