Reference no: EM13842670
Now that you have a solid understanding of how Earned Value Management is conducted and how to use the EVM Tool, understand that many organizations do not use such tools but rely on the basic principles you have learned in this course. As such, you now have the opportunity to display your understanding of EVM principles using just the basic formulae. You may use any tools we have utilized in this course (Excel, MPP, EVM tool) or you may calculate the assignment longhand.
Project Background:
Note: The following problem is taken from a standardized, globally-used EVM assessment and reflects the basics of EVM. To maintain their competitive position in the robotics market, the RAMBOTICS Corporation needs to develop a new generation robot. They have initiated a project to achieve this goal. The project will commence in six months. The project is comprised of the tasks in Table 1: Original Task List and Budgeted Effort. Predecessors, task duration, and the number of personnel required to achieve the task in that duration are also provided.
Part 1: Requirements
Construct a Gantt Bar Chart for the project and determine Budget At Completion (BAC) for the project. Assume that RAMBOTICS Corporation has access to unlimited resources; that personnel cost are blended costs at $10,000 per month per person, and that there are no project costs other than personnel costs. A task cannot commence until all its predecessors have been completed.
Table 1: Original Task List and Budgeted Effort
|
ID
|
Job Description
|
Immediate Predecessors
|
Planned duration (Months)
|
Staff (Number)
|
|
A
|
Electrical Design
|
Start
|
4
|
6
|
|
B
|
Assemble Boards
|
A
|
4
|
3
|
|
C
|
Test Boards
|
B
|
2
|
2
|
|
D
|
Software Design
|
Start
|
4
|
1
|
|
E
|
Programming
|
D
|
2
|
2
|
|
F
|
Software Testing
|
E
|
2
|
2
|
|
G
|
Robot Body Deign
|
A
|
4
|
2
|
|
H
|
Robot Construction
|
G
|
2
|
2
|
|
I
|
Final Assembly
|
C, F, H
|
2
|
2
|
Part 2: Earned Value Calculations
After eight months, project progress is determined as detailed in Table 2. Predecessors remain the same.
Table 2: Progress at the End of Month Eight
|
ID
|
Job Description
|
Efforts (Person Months)
|
Outstanding Duration (Months)
|
Staff Number
|
|
A
|
Electrical Design
|
30
|
0
|
0
|
|
B
|
Assemble Boards
|
9
|
1
|
3
|
|
C
|
Test Boards
|
0
|
2
|
2
|
|
D
|
Software Design
|
4
|
0
|
0
|
|
E
|
Programming
|
8
|
1
|
2
|
|
F
|
Software Testing
|
0
|
4
|
2
|
|
G
|
Robot Body Design
|
6
|
1
|
2
|
|
H
|
Robot Construction
|
0
|
2
|
2
|
|
I
|
Final Assembly
|
0
|
2
|
2
|
Part 2: Earned Value Calculations
Using the information in Table 2: Progress at the End of Month Eight and the original details, update your Gantt Chart showing the remaining work, and estimate the PV (BCWS), AC (ACWP), and EV (BCWP) for each task at the end of month eight.
For the project:
- What is the Cost Variance (CV)?
- What is the Schedule Variance (SV)?
- What is the Cost Performance Index (CPI)?
- What is the Schedule Performance Index (SPI)?
- What is the Estimate at Completion (EAC)?
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