25: a) The scheduled work activities for a project, together with the correspondingduration and budgeted amount estimated at the start of the project, are shown in thetable below. In a weekly progress meeting at the end of the 42nd day of the project,the contractor reports that the paving has been placed and is ready for application ofthe sealer. The contractor also explains that new compacting methods have helpedreduce the project costs by $3.000 below the total budgeted cost for constructionthrough placement of the paving. Determine the following using Earned ValueAhead of scheduleBehind schedulea. The status of the project in terms of schedule:Under budgetOver budgetb. The status of the project in terms of cost:OriginalBudgetDurationWork Item(working days)Mobilize to site$2,000Demolish old parking lot3.$15,500Excavation and sitework$12,500New underground utilitiesCompacted sub-baseConcrete walkways and planters12$23,0004.$9,50010$18,500Paving6.$22,500Pavement sealer$6,500Striping$4,000LightingLandscaping$7,500$5,500Final Clean-up, De-mobilize$2,000Total51$129,000323

Here, To understand whether the project is ahead of schedule or behind the schedule, we would…

Answered: Ahead of schedule Behind schedule a.…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Teloxy Engineering (A) Teloxy Engineering has received a onetime contract to design and build 10 000 units of a new product. During the proposal process, management felt that the new product could be designed and manufactured at a low cost. Some members felt that it would be more economical to purchase the product for R200 each in the marketplace, with an extra R20 per unit handling of the 10 000 units. The Management team set up a meeting with the manufacturing team to see if they can manufacture the component at a cheaper price than buying it from the outside. The manufacturing team informs them that it can produce a maximum of 10,000 units, just enough to fulfil the contract. The setup cost will be R100 000 and the raw material cost is R120 per component. Since Teloxy has never manufactured this product before, manufacturing expects the following defects: % defective 10 20 30 40 Probability of occurrence (%) 10 20 30 25 15 All defective units must be removed and repaired at a cost…
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Ahead of schedule Behind schedule a. The status of the project in terms of schedule: Under budget Over budget b. The status of the project in terms of cost: