Project Duration=Planning on spending per monthProject Budget (BAC)Percent complete per monthPerformance Analysis% CompletePlanned Value (PV)Actual Cost (AC)Earned Value (EV)Schedule Variance (SV)Schedule Performance Index (SPI)Cost Variance (CV)Cost Performance Index (CPI)Estimate at Completion (EAC)Estimate to Complete (ETC)Variance at Completion (VAC)5 months$300,000.00$1,500,000.00Month 120%20% of work completed15% of work completedSpent additional $110,000Month 2Instructions: Utilizing the EVM cheat sheet provided by the instructor, complete the calculations iformulas and functions to attain your answers. Please do not simply plug in numbers. This exerciability to use Excel. Finally, answer the questions below to explain your answers.Question 1: What do your SV numbers tell you about the project schedule and how?Answer 1:Question 2: What do your SPI numbers tell you about the project schedule and how?Answer 2:

Find the Calculations methods below: Cost Variance (CV) = Earned Value − Actual CostSchedule…

Answered: Project Duration Planning on spending…

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...

See similar textbooks

Similar questions

[Project Management] Because a housing project is running late, the developer will need to complete and deliver the houses as quickly as possible. You and your management team are responsible for mitigating the situation by including a time-cost trade-off analysis into the project. You will need to include the following: Normal crash Activity Prior Days cost, RM Days cost, RM A 7,000 7,000 B A 8,000 9 8,000 B 14 6,000 12 11,000 D B 18 5,000 11 8,500 E C,D 12 8,000 12 8,000 E 20 6,000 16 12,000 E 7,000 7,000 E 11 11,000 7 15,000 G, H 10 15,000 21,000 7 I, F 6 9,000 6 9,000 Construct a network diagram (PDM), including activity early start, late start, early finish, late finish and float.
8 EARNED VALUE ANALYSIS The following project is reported to be at the end of its 8 week. Find the cost and schedule variances. Also find the CPI, SPI, CSI, ETC and EAC for the project. Find the condition of the project at the this reporting period. PV AC Budget ($) Duration Actual Cost % D-8 Activity Predecessor (s) (week) ($) Complete 300 400 A 3 100 A3 В 4 200 180 100 B:4 C 7 250 300 90 A 8 600 400 50 400 200 В 40 150 180 F В 4 100 G C 4 100 200 40 500 H D, E 2 300 F, G 3 J H, I 1 100 ㅇ CO 프 (-)
N5 Explain some of the basic principles of cost management, such as profits, life cycle costs, tangible and intangible costs and benefits, direct and indirect costs, and reserves. Why is defining activities a process of project time management instead of project scope management?
Unlike management reserves, contingency reserves are not likely to be spent and are not part of the project's budget baseline, but they can be included in the total project budget. Question 29 options: True False
Q3.When we start a project how we know this project or program is feasible for our future? Explain with help of diagram
Practice Question EVM: A simple project consists of five tasks and is scheduled to take 13 weeks to complete. The actual status of the project at the end of week 9 is given in the following table: Project Plan Task | Duration Start (weeks) Actual status Actual current cost complete S350 S225 $475 $300 End Budget Percent week week $300 100% 100% $250 $450 $600 $500 B 2 100% 75% 75% C 4 4 7. 9. 13 D 3 6 8 $300 a) For each activity, compute the ACWP, BCWP, BCWS and add the columns to get the projected total. Record your answers in the table below. Task ACWP BCWP BCWS E b) Calculate: CV,SV,CPI, and SPI:
Why is earned value management (EVM) not utilized more frequently? Describe how it may be used to manage expenses and gauge project effectiveness. What are some broad guidelines for judging the quality of figures for cost variation, schedule variance, cost performance index, and schedule performance index?
By using Bar chart planning method, find the following: - Total duration for the project activities shown below - The project completion date (assume the start date is 1/3/2012 Activity A CDEFGHI J Duration 85 2846 7 45 6 (days) Following Activity C,D EFGHIJJ * If the project shown above had a delay of (4 days after (13working days), what would its new delivery date be? B B
Q1. Using a suitable example each, describe what the following project planning process activities involve: a. Establish project objective; b. Define scope; c. Create a Work Breakdown Structure (WBS); d. Estimate activity durations; e. Sequencing activities.
Program/Project Management PMO - Project Governance Summary and overview.
Embattled Mango might have proposed rescue plan ready by the end of October -Low-cost airline Mango's first meetings as part of its business rescue process took place on Wednesday, with employee representatives and creditors being briefed on the steps ahead. Among other things, employees expect to be paid their outstanding salaries for last month. The voluntary business rescue process was approved as from 28 July, and the goal is to have a proposed rescue plan by the end of October. Rescue practitioner Sipho Sono of Opis Advisory said one meeting was with the airline's creditors and the other with unions and representatives of non-unionised employees. He said he was satisfied with the process so far. "The next steps will be setting up several meetings with the various committees established. More details will be provided as the business rescue process unfolds," said Sono. Jordan Butler, chair of the Mango Pilots' Association (MPA), said the aim is to have a proposed rescue plan by 29…
Why is earned value management (EVM) underutilised? Explain how it may be used to track spending and project success. What are some general rules for assessing cost variation, schedule variance, cost performance index, and schedule performance index figures?

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS