Explain what is the cost variance and schedule variance

Assignment Help Project Management

Reference no: EM1343244

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 = $23,000; EV = $20,000; AC = $25,000; BAC - $120,000

Explain what is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?

How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget?

Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?

Use the schedule performance index (SPI) to estimate how long it will take to finish this project.

Reference no: EM1343244

Questions Cloud

Mitigation for the risk listed at the project level : Make a risk register but need help with the risk description: the expected outcome, and mitigation for the risk listed at the project level.

Winsome manufacturing project scope : Create a description of the project's scope only as it relates to the sales and marketing activities and explain the deliverables the team will produce, what type of information it will contain, and the level of detail expected.

Explanation of performance improvement project : Show a performance improvement project you have been involved in or had knowledge of. What process was used to identify the need for an improvement and what steps were taken to work through the process to achieve the improvement?

Project management certification without experience : Is a Project Management Certification Without Experience Sufficient and project team, would you even consider hiring that person to manage an IT project

Explain what is the cost variance and schedule variance : Explain what is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project and how is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget?

It project managers and traditional project managers : What is the difference between IT project managers and traditional project managers if there are so many similarities in project management discipline

Emotional intelligence - importance for project managers : Self-awareness refers to a person's capacity for being aware of how they are feeling and managing emotions refers to a person's capacities to ensure that feelings do not interfere with getting things accomplished.

Description of risk management : Write a paper regarding a project, either real or fictitious, where one is able to discuss how risks were identified, ranked, and monitored.

Determine the critical path and project duration in days : Determine the critical path and project duration in days and given that each resource is assigned 100% to each task, identify the resource constraints.

User Account

All Pages