What are the spending and schedule variances for the project

Assignment Help Applied Statistics

Reference no: EM132492344

PMAN635 Quantitative Methods in Project Management - University of Maryland Global Campus

Problem 1.A project in its 26^th week has an actual cost of $250,000. It was scheduled to have completed $325,000 worth of work at that point in the project. For the work performed to date, the budgeted value is $300,000. The project has a total budget of $1,500,000. What are the cost and schedule variances for the project? What are the SPI and CPI? Assuming that both schedule and cost variances will affect the remaining work, what is the EAC?

a. CV =

b. SV =

c. SPI =

d. CPI =

e. EAC =

Problem 2. A project has just completed its 87^thtask of a total of 150 tasks in its project plan. The project has a total budget of $1,500,000. It was scheduled to have spent $500,000 at this point in the plan, but has actually spent only $400,000. The project manager estimates that the value of the work actually finished is $300,000.

What are the spending and schedule variances for the project? What are the SPI and CPI? What is the EAC, assuming the remaining work will be completed as budgeted? Is this likely?

a. CV =

b. SV =

c. SPI =

d. CPI =

e. EAC =

Problem 3. The following project is at the end of its 6^th week. Find the cost and schedule variances. Also find the CPI and SPI. Then find the critical ratio of the project using earned value calculations. Finally, calculate the EAC for the project by at least two different methods.

Activity	Predecessor	Duration (wks)	Budget at Completion ($)	Actual Cost ($)	%Complete
a	-	2	300	400	100
b	a	3	200	250	100
c	b	3	300	300	100
d	b	5	600	200	30
e	c,d	4	400	-	0

a. CV =

b. SV =

c. CPI =

d. SPI=

e. CR=

f. EAC=

Problem 4. Answer the questions for the following case:

Stoneworth Paving Company specializes in highway paving jobs for state of Virginia. When the State first awarded Stoneworth the contract, they stipulated a 1% penalty for each week Stoneworth was late on a completion date. Preston Flintrock, the project coordinator for Stoneworth, began to notice that the last two jobs were three weeks late, and the paving job that was due to be completed in the next two weeks was behind schedule. When Preston went in the field to investigate, he found the job to be understaffed, supplier delays, and a high work rejection/repaving needed. As a result, Preston decided to establish a better system of project control and present it to the boss.

a. If you were Preston, what characteristics would you look for in a new control system? Explain.

b. Will a new control system be adequate for the problem? Explain.

Reference no: EM132492344

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