What is the cost variance-schedule variance

Assignment Help Project Management
Reference no: EM132267426

EVA Problem

You are building a 4-sided fence. Each side is of equal length and you estimate that each side will contain the same material and labour costs as well as take the same amount of time to complete. You estimate that the project will take 4 days to complete and your budget, including a contingency reserve, is Rs. 4,000. At the end of 3 days, you are asked to prepare an Earned Value calculation in order to determine how the project is progressing. You determine that as of the end of day 3, total costs incurred are Rs. 3,500 and 70% of the project is completed. What is the Cost Variance, the Schedule Variance, the CPI and SPI, EAC, VAC and ETC?

Reference no: EM132267426

Questions Cloud

What are ways to document issues : What are ways to document issues when working on a project so they could be used in the future?
Managing the project schedule : Why is it important for managing the project schedule? How would you use this technique to assess a project plan.
Which of the fundamental areas does the topic touch on : Which of these fundamental areas does this topic touch on? Choose 2 areas. How does the topic relate to the areas chosen? Explain. (1 paragraph)
What risks or challenges might health care manager encounter : Review the Terminal Course Objectives, accessed by clicking on the "Course Information" tab at the top of your screen, scrolling down to the "Course Objectives"
What is the cost variance-schedule variance : What is the Cost Variance, the Schedule Variance, the CPI and SPI, EAC, VAC and ETC?
Discuss recommendations for carts of colorado : Discuss the options and your recommendations for Carts of Colorado, and California Pizza Kitchen (business-level strategy).
Risk management plan : How effective will the risk management plan be if developed by the project manager in seclusion?
Benefit from the agile methodology : What other type of projects do you think could benefit from the AGILE methodology? What types of projects do you think could benefit from the traditional
Key steps in developing a project schedule : What is are the key steps in developing a project schedule? Why is project plan important in a project?

Reviews

Write a Review

Project Management Questions & Answers

  What is the average temperature over this period

If the temperature C(t) in an aquarium changes over a 2-hour period, what is the average temperature over this period?

  Describe your perspective as qualitative doctoral researcher

Describe whether your perspective as a qualitative doctoral researcher more closely aligns with either Yin or Stake’s worldview.

  Explain steps to minimize challenges in future research

Explain Steps to minimize challenges in future research. Suggested future research based on your research results, challenges, and implications.

  The main purpose of aggregate operations planning

The main purpose of aggregate operations planning is to specify the optimal combination of which of the following?

  Goal definition and performance indicators in soft projects

Create a Project Charter, Requirements Traceability Matrix & Work Break Down Structure with Activities - Apply scope change management processes

  Encounter in a major it project

What are three different types of resource constraints one might encounter in a major IT project?

  Contribution margin per unit explained in this

contribution margin per unit explained in this solutionralph and emmas is considering a project with total sales of

  Investigate a Project Management scenario

EPM 5600 - Principles of Project Management Minor Case Study Assignment - You are required to investigate a Project Management scenario

  What percentage of the time is the counter person idle

Students arrive at the student services counter at an average of one every 15 minutes. Each request takes on average 12 minutes to be processed.

  What approaches should the project manager

What approaches should the project manager take when he must share bad news with the project team and other stakeholders?

  What did you learn about encouraging change

Include a reflection on the project. What did you learn about encouraging change? What lessons have you learned from the assignment?

  Describe a project in which you are currently involved

Explain a project in which you are currently involved planning a vacation, building an addition to your house

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd