Earned value management is a systematic approach, Project Management

Assignment Help:

Question:

(a) Earned Value Management is a systematic approach to the integration and measurement of cost, schedule, and technical accomplishments in a project. List the benefits associated with this method.

(b) PK Motors Ltd embarked on a pilot project to produce 2000 units of a new model vehicle. The total cost of production is estimated at $27m and the project should be completed in 30 weeks. The rate of project progress is expected to be uniform and linear. At the end of week 18, the actual cost of work performed (ACWP) amounted to $17.1m and the number of cars produced was 600 units. As a project manager, you are requested to report the project status. Your answer should focus on the following:

(i) A graphical presentation of the project status
(ii) Cost Variance (CV)
(iii) Schedule Variance (SV)
(iv) Cost Performance Index (CPI)
(v) Schedule Performance Index (SPI)
(vi) Estimate To Complete (ETC)
(vii) Estimate At Completion (EAC)
(viii) Estimated time to complete

Consider the results of the Earned Value Analysis and briefly state whether the project is ahead or behind schedule and whether it is over or under budget.


Related Discussions:- Earned value management is a systematic approach

Feedback mechanism - element of total quality management, The customer fee...

The customer feedback and employee feedback mechanisms are the essential requirements to create customer oriented quality culture. These feedback mechanisms perspectives an ac

Fixed position based layout, Fixed Position Based Layout As the term its...

Fixed Position Based Layout As the term itself implies, fixed layout involves the movement of men and machines to the product which remains stationary. In this type of layout th

Principle of parity of authority and responsibility, What is the principle ...

What is the principle of parity of authority and responsibility? The principle of parity of authority and responsibility states which in delegating; managers should match the r

Project management value measurement process, Project Management Value Meas...

Project Management Value Measurement Process Value management is a process which will have to be used throughout the project.  The  different  tools  and  techniques are availa

Help on project from henley, The Integrated Management Project is a demandi...

The Integrated Management Project is a demanding piece of work requiring initiative, energy and application. It is our desire to support you and help you in this process as much as

Explain the procedure of modi method, Q1.  Explain the procedure of MODI me...

Q1.  Explain the procedure of MODI method of finding solution through optimality test. Q2.  a. Explain the steps in Hungarian method. b. Solve the following assignment proble

Action planning, In the previous learning unit, you examined your values, a...

In the previous learning unit, you examined your values, aspirations, strengths and competency gaps to identify three goals towards which you will strive in this programme and in y

Caselet, what are the objective of the project alignment session program?

what are the objective of the project alignment session program?

NETWORK DIAGRAMS, AHOW TO FIND THE VARIANCE OF AN ACTIVITY AND THE THE PROB...

AHOW TO FIND THE VARIANCE OF AN ACTIVITY AND THE THE PROBABILTY THAT A WORK WILL BE FINISHED IN A GIVEN NUMBER OF DAYSsk question #Minimum 100 words accepted#

Disadvantages of product layout - heavy capital expenditure, Disadvantages ...

Disadvantages of Product Layout - Heavy capital Expenditure This layout requires heavy capital investment in machines and equipment and for providing specialized facilities to

Write Your Message!

Captcha
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