PMAN 650 Earned Value Management Assignment

Assignment Help Project Management

Reference no: EM132632218

All of you have had at least an introduction to earned value management in the project management fundamentals course. Many of you may have had the opportunity to use earned value management in your professional careers. In practice, most EVM analysis results are generated by scheduling software or other applications. As a project manager, you musthave a good handle on the concepts and be able to verify the accuracy of EVM analysis results.

In this assignment, you will have an opportunity to brush up and expand upon your EVM knowledge and skills by applying EVM concepts to a practical problem.

THIS ASSIGNMENT REQUIRES A MANUAL ANALYSIS - DO NOT USE MICROSOFT PROJECT.

Problem Background
Your project consists of seven activities with planned start and finishes dates shown in the chart below:

Activity budgets and earned value (EV) accrual rules from you project cost management plan are as follows:

Assumptions
1. Assume a five-day workweekwith no holidays occurring during the workweek.
2. For all activities (except activities 3 and 4), assume the expenditure rate is constant over the duration of the activity, i.e., the amount planned to be spent each week is the same. See the conceptual profile below.
3. For activity 3, the planned expenditure profile is shown below:
4. For activity 4, the planned expenditure profile is shown below:
The project sponsor wants you (the PM) to present a project cost and schedule performance assessment using data through the end of week 8:

For activity 1, three equally-valued gates have been established and all gates are complete as of the end of week 8.
For activity 3, five milestones have been established with the following values: (1) milestone 1 - 10%; milestone - 20%; milestone 3 - 15%; milestone 4 -20%; milestone 5 - 35%. Four of the milestones are complete as of the end of week 8.
For activity 4, four equally values gates (milestones) have been established. As of the end of week 8, none of the gates have been reached but the activity owner estimates 30% of the work required to reach the first gate has been accomplished.

1. Earned Value Measures

a. Calculate earned value measures for each activity and for the cumulative project as of the end of week 8; fill in the table below:

2. Earned Value Performance Measures

a. Calculate earned value performance parameters for each activity and for the cumulative project as of the end of week 8; fill in the table below:

b. Is the project ahead of schedule, on schedule, or behind schedule? What EVM information are you using to make this assessment and why?
c. Is the project over budget, under budget, or on budget? What EVM information are you using to make this assessment and why?

3. Earned Value Forecasts
a. What is the value of the "Cumulative CPI" Estimate-at-Completion (EAC)?
b. Using the "Mathematical" or "Overrun to Date" Estimate-at Completion, what is the value of the Estimate-to-Complete (ETC)?
c. Using the "Cumulative CPI times SPI" Estimate-At-Completion, how much more or less money (other than the current budgeted amount) will you need to finish the project?
d. How much would the Cost Performance Index (CPI) have to change in order to complete the project within the original budget?

Attachment:- Earned Value Management.rar

Reference no: EM132632218

Questions Cloud

Total opportunity cost of the staycation : You are considering to take a 2 days staycation to Lantau Island during the weekend. You have already bought a round trip ferry ticket

Describe risk factors of vicarious and secondary trauma : Describe risk factors of vicarious and secondary trauma. Explain how you might encourage support if someone experienced vicarious or secondary trauma.

Define a trial balance : Part 1: Define a trial balance. Identify three errors that would not be detected by a trial balance. Identify these qualitative characteristics

Calculate the short-run market equilibrium : Consider a market where 100 firms are in operation in the short run. Each firm's cost function is TC= 450 + 2q2 . The market demand function is QD= 1200-5p.

PMAN 650 Earned Value Management Assignment : PMAN 650 Earned Value Management Assignment Help and Solution - Calculate earned value measures for each activity and for the cumulative project

How will the changes impact your perspective on literature : Construct an open-ended question (see How to Ask an Open-ended Question handout) to ask your peers about the literature you read in the class.

Calculate the yield to maturity on this bond : The Salem Company bond currently sells for $705.19, has a coupon interest rate of 11%. Calculate the yield to maturity on this bond

Inverse relationship between the price of a product : The Law of Demand describes an inverse relationship between the price of a product and the amount of that product consumers

Why you chose the particular approach as the most useful : Determine which critical approach you find most useful for examining the conflicts and meaning in literature. Explain why you chose this particular approach as.

User Account

All Pages