The following eight activities constitute an overall bar chart portrayal of a 4-month project.Two months after the start of the project. Activities A, C, D are completed, E is 50% completeand B is 25% complete. The total cost that has been spent is $10,500. For this project, usingearned value concepts, determine the schedule and cost variance. Is the project ahead or behindschedule? Over or under budget?ActivityABVAHEсDFCost$2,000$8,000$2,000$5,000$1,000$15,000Month 1Month 2Month 3Month 4

A project management methodology called earned value management (EVM) combines scope, expenses, and…

Answered: The following eight activities…

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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Similar questions

Develop a CPM diagram for the activities/relationships listed below (assumedurations are in months). For each activity calculate the Early Start, Late Start, EarlyFinish, Late Finish, Total Float, and Free Float. Clearly identify the critical path forthe project (hint: a highlighter would be a good tool to use) How do you solve this? I don't understand how it's done.
there are four project baselines. Scope baseline Schedule baseline Cost baseline Performance measurement baseline Pick one of the baselines above, explain it, and tell us how it is applied to monitor and control a project. If possible, use the Getta Byte Project to provide examples.
The following six activities constitute an overall bar chart portrayal of 4-month project. Two months after the start of construction, Activities A, C, D half of E, and one-fourth of B were completed, for a cost of $10,500. Evaluate the status of the project. Using earned value concepts, determine the schedule variance and the cost variance. State if the project is over or under budget and if it is ahead of or behind schedule.
You are developing a performance progress report for a project you are managing. The following time-phased budget was developed earlier in the planning stage and is being used as the standard against which the project performance is measured. Work Packages A B C Total W1 4 4 W2 8 8 W3 2 W4 5 5 W5 9 19 W6 6 6 You are analyzing the project performance at the end of Week 5. Activity "C" is 80% complete and its actual cost is 15. What is the schedule variance of this activity? Use two decimal places in your calculations.
Below is a project listed in a table with: activity, predecessor, and duration. Activity A B с D E F G H Predecessor none A A с B B D, E, F G Fill in the chart below by filling in: early start (ES), early finish (EF), ☐late start (LS), A late finish (LF), duration (D), and float (F). Then, answer the questions based on the chart. Hint: You can use the Word tools to fill in the chart, or you can draw the chart by hand, then photograph or scan your graph to submit it. 1. Fill in the chart below. B Duration (weeks) C 5 3 8 13 7 9 10 7 - D E F G H
The optimistic duration for a project is 10 weeks. The worst case estimate is 22 weeks, and the most likely duration is 13 weeks. Using 2 sigma estimates and PERT, what is the range of the duration estimate? 12 to 16 weeks 13 to 17 weeks 10 to 18 weeks 11 to 19 weeks
From the following data, calculate BAC, BCWS, BCWP, ACWP, EV, CV and SV when the Status Checking Date is May 5, 2017. Is the project over or under budget? By what percentage? Is the project behind or ahead of schedule? By what percentage? Project Status Status Checking Date 5/5/2017 Actual Effort Estimated Actual Completion Estimated Work Effort by Status Checking Date Completion Date Tasks Date (mm/dd/yy) (mm/dd/yy) (Person Days) (Person Days) 10 2/5/2017 2/5/2017 15 20 3/15/2017 3/25/2017 20 25 4/25/2017 4. 25 25 5/5/2017 4/1/2017 15 10 5/25/2017 10 5 6/10/2017 7 5 6/15/2017 HTML Editor 2. 3. 5.
Earned value analysis is the project management tool that is used to measure project progress. You are a project manager in company XYZ that responsible to handling the packaging machine project with the total cost budgeting is RM100,000. There are including RM24,000 (Design), RM60,000 (build) and RM16,000 (install & test). The information regarding on the project progress development in weeks 8 as shown in Table 2 below: No Type Cumulative Budgeted Cost (CBC) 2 Cumulative Actual Cost (CAC) Cumulative Earned Value (CEV) 1 3 TOTAL RM i. ii. iii. iv. 64,000 68,000 54,000 100,000 Percentage 64.0 Cost performance Index (CPI) [hint: CEV/CAC] Cost variance (VC) [hint: CEV-CAC] 68.0 54.0 a) Based on question 2(a), calculate and elaborate the various of indicators of cost performance for this project based on the respective below: 100.0 Forecasted cost of completion (FCAC) with action taken [hint: TBC/CPI] Forecasted cost of completion (FCAC) without any action taken [hint: CAC + [TBC-CEV]
Assume that you have been selected and hired by the FAO to manage this FAOFunded Aquaponics Project described in the article (above). Using expressed and impliedinformation in the article, craft/develop some projectdocuments and plans to help in the overall management of the Aquaponics Project, withspecific focus on the components and questions/statements listed below.Create a partial project schedule using a Gantt Chart (with a minimum of 10 tasks).Craft a high-level Procurement Management Plan for the project.
please help, project management 1) Given the following information for a one-year project, answer the following questions. Recall that PV is the planned value, EV is the earned value, AC is the actual cost, and BAC is the budget at completion. PV=$22,000 EV=$20,000 AC=$25,000 BAC=$120,000 a) What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project? Show your calculations. b) How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget? Explain. c) Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned? Explain. d) Use the SPI to estimate how long it will take to finish this project. e) Sketch the earned value chart for this project. 2) Write a one-page summary explaining how is project cost management different when using an Agile approach? Make sure to document any cited references.
please help, project management 1) Given the following information for a one-year project, answer the following questions. Recall that PV is the planned value, EV is the earned value, AC is the actual cost, and BAC is the budget at completion. PV=$22,000 EV=$20,000 AC=$25,000 BAC=$120,000 a) What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project? Show your calculations. b) How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget? Explain. c) Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned? Explain. d) Use the SPI to estimate how long it will take to finish this project. e) Sketch the earned value chart for this project. 2) Write a one-page summary explaining how is project cost management different when using an Agile approach?
You are the project manager of the softwaration project in the table below. You would like to find the minimum-cost schedule for your project. There is a $500-per-week penalty for each week the prop delayed beyond week 25. In addition, your project team determined that indirect project costs are $2,000 per week. 9 Normal Activity Immediate Predecessor(s) Time (weeks) 1 A B C D E F G H 1 a. What would be your target completion week? The target completion week is week A A, B B D E. F G C.F (Enter your response as an integer.) b. How much would you save in total project costs with your schedule? Total Savings S (Enter your response as an integer) 79832N 10 12 8 Normal Cost (S) 3,000 3,000 10,000 3,000 4,000 2,000 3,000 5,000 2,000 Crash Time (weeks) 1 58829136 Crash Cost ($) 3,000 6,000 12,000 9,000 5,000 5,000 9,000 7,000 8,000

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