Reference no: EM131385164

Earned Value Management Journal Guidelines

Assignment: On April 8, one week before the first internal project review is scheduled to take place, Spencer Tracey and Margaret Porter are reviewing the presentation that Spencer intends to make to their vice president.  Spencer is the project manager and Margaret is the contract manager. The project they are working on has the potential to generate 10 billion dollars over the next 7 years but only if the first year of the project is successfully completed on time (December 31) and within budget ($110 million).  

At this point in April, the project is reporting out its status on the first 25% of the work. Spencer feels optimistic about the outcome. He plans to report that the project is on track financially and is still tracking to plan. All tasks for January and February were completed on time; however, a few tasks in March began to slip. These tasks were caught early enough to implement a corrective action to ensure they finished on time. During the 2nd and 3rd weeks of March, overtime was added to bring the past due tasks back in line with the schedule baseline.

Based off this analysis, Spencer believes he will finish the project under budget at about $100 million dollars and on time. Margaret congratulates Spencer on his success so far and asks if she can review the numbers more closely. Spencer agrees and provides her with the following data:

Work Unit	Completion Date	$M Budget	Planned Percent Complete	Actual Percent Complete	$M Actual Costs
A	Jan 31	4	100	100	5
B	Feb 28	6	100	100	8
C	Mar 31	10	100	80	12
D	Jun 30	30	0	0
E	Aug 31	26	0	0
F	Oct 31	20	0	0
G	Nov 30	2	0	0
H	Dec 31	2	0	0

Margaret decides to add another column, which she calls the earned value (EV) analysis.  

Complete Margaret's EV chart and answer the questions above based on the earned value analysis of the project. Fill in the missing data in the empty spaces.

Work Unit	Completion Date	$M Budget	Planned Percent Complete	Actual Percent Complete	$M Actual Costs	EV
A	Jan 31	4	100	100	5
B	Feb 28	6	100	100	8
C	Mar 31	10	100	80	12
To Date	April 8		------	-------
D	Jun 30	30	0	0	-------	-------
E	Aug 31	26	0	0	-------	-------
F	Oct 31	20	0	0	-------	-------
G	Nov 30	2	0	0	-------	-------
H	Dec 31	2	0	0	-------	-------

Complete the following earned value calculations to determine the overall status of the project and projected outcome:  

Cost Variance (CV)

Schedule Variance (SV)

Cost Performance Index (CPI) 

Schedule Performance Index (SPI)

Estimate at Completion (EAC)

Estimate to Complete (ETC)

Variance at Completion (VAC)   

If you were Margaret, what would be your analysis of Spencer's plan, current status, and probable outcome of the project? Is the project on schedule and on budget?

Network Diagram Journal Activity

Now that you have created the work breakdown structure and received approval to begin scheduling the office move, your manager, Steve Spaniels, would like to review a network diagram and present it to the CEO.

You have worked with your project team to estimate the durations of each of the work packages in the WBS. The following is your current plan:

Work Package	Duration (days)	Predecessors
1) Initial planning	20
2) Kick-off meeting	1
3) Decide on furniture	25
4) Office preparation	20
5) Actual move	5
6) Build out of new facility	45
7) Install of furniture/servers/equipment	10
8) Set up utilities	30
9) Pack-out existing office	10
10) Install new company signs	15
11) Closeout activities	5

Assignment:

Please review the Network Diagraming. Create a project network diagram by first identifying the task predecessors (above).  Once you have completed the network diagram:

1) Calculate the forward pass and backward pass.

2) Calculate activity slack and project float.

3) Identify critical path.

Attachment:- Assignment.rar