A project is scheduled to complete in six months duration. There are two activities inthe project. The actual cost of Activity 1 is SAR 300,000 and that of Activity 2 isSAR 200,000. The planned value of these activities is SAR 280,000 and 150,000respectively. On reviewing, the current project status is Activity 1 is 100% completedand Activity 2 is only 75% completed.(i) Perform the earned value calculations of the above project scenario and fill thegiven table.(ii) What do you infer about the project schedule and cost based on your calculations?Earned ValuePlanned ValueActual CostCost VarianceActivityScheduled VarianceCost performance IndexSchedule performance IndexMonth 1

Answered: A project is scheduled to complete in…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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A project is scheduled to complete in six months duration. There are two activities in the project. The actual cost of Activity 1 is SAR 300,000 and that of Activity 2 is SAR 200,000. The planned value of these activities is SAR 280,000 and 150,000 respectively. On reviewing, the current project status is Activity 1 is 100% completed and Activity 2 is only 75% completed. (i) Perform the earned value calculations of the above project scenario and fill the given table. Activity Month 1 Earned Value Planned Value Actual Cost Cost Variance Scheduled Variance Cost performance Index Schedule performance Index (ii) What do you infer about the project schedule and cost based on your calculations?
By using Bar chart planning method, find the following: - Total duration for the project activities shown below - The project completion date (assume the start date is 1/3/2012 Activity A CDEFGHI J Duration 85 2846 7 45 6 (days) Following Activity C,D EFGHIJJ * If the project shown above had a delay of (4 days after (13working days), what would its new delivery date be? B B
8 EARNED VALUE ANALYSIS The following project is reported to be at the end of its 8 week. Find the cost and schedule variances. Also find the CPI, SPI, CSI, ETC and EAC for the project. Find the condition of the project at the this reporting period. PV AC Budget ($) Duration Actual Cost % D-8 Activity Predecessor (s) (week) ($) Complete 300 400 A 3 100 A3 В 4 200 180 100 B:4 C 7 250 300 90 A 8 600 400 50 400 200 В 40 150 180 F В 4 100 G C 4 100 200 40 500 H D, E 2 300 F, G 3 J H, I 1 100 ㅇ CO 프 (-)
N5 Explain some of the basic principles of cost management, such as profits, life cycle costs, tangible and intangible costs and benefits, direct and indirect costs, and reserves. Why is defining activities a process of project time management instead of project scope management?
The Advanced Tech Company has a project to design an integrated information databasefor a major bank. Data for the project are given in Table Q2 below. Indirect project costsamount to $300 per day. The company will incur a $150 per day penalty for each day theproject lasts beyond day 14.(a)What is the shortest time duration and cost for this project?B)What is the total cost and time of the minimum-cost schedule?
Earned Value Analysis of the project supported by cost Performance Index and Schedule Performance Index readings. Comment on the progress of each activity and overall health of the project. Activity BCWS ACWP 1- Percentage Completion 80% Rs. 30,000 Rs. 25,000 2- Percentage Completion 40% Rs. 60,000 Rs. 80,000 3- Percentage Completion 100% Rs. 80,000 Rs. 78,000 Cumulative Rs. 170,000 Rs. 183,000
The following information has been computed from aproject:Expected total project time = T = 62 weeksProject variance (s2p ) = 81What is the probability that the project will be completed18 weeks before its expected completion date?
You are the project manager of the software installationproject in Table 7.12. You would like to find the minimum-costschedule for your project. There is a $1,000-per-week penaltyfor each week the project is delayed beyond week 25. In addi-tion, your project team determined that indirect project costsare $2,500 per week.a. What would be your target completion week?b. How much would you save in total project costs with yourschedule?
The FWO has just made the winning bid of 54 million Rs. to construct a new Building. Company has assigned you to this project to help ensure that it stays on schedule. The contract includes the following provisions: A penalty of 300,0000 Rs. if Project has not completed construction by the deadline 47 weeks. To provide additional incentive for speedy construction, a bonus of 150,0000 Rs. will be paid to if the building is completed within 40 weeks. Activity Activity Description Immediate Predecessors Estimated Duration (Weeks) Crew size Norm. Min. A Excavate - 2 5 2 B Lay the foundation A 4 3 2 C Put up the rough wall B 10 6 3 D Put up the roof C 6 6 3 E Exterior plumbing C 4 3 2 F Interior plumbing E 5 3 2 G Exterior siding D 7 5 3 H Exterior painting E, G 9 3 2 I Electrical work C 7 3 1 J Put up the wallboard F, I 8 4 2 K…
Roger Ginde is developing a program in supply chain management certification for managers. Ginde has listed a number of activities that must be completed before a training program of this nature could be conducted. The activities, immediate predecessors, and times appear in the accompanying table: Activity Immediate Predecessor(s) A BCDEFG с This exercise contains only parts b, c, and d. b) The critical activities for the leadership training program development project are c) The project length for the leadership training program development project = d) Slack time for each of the activities is: days. Activity A B C ס ח ד 0 F B A, D C E, F G Slack Time Time (days) 4 6 1 103510
Project B is the development of a facility in a remote area, of about GHS 5 million in value, of approximately 18 months’ planned duration. It is 30 per cent completed. Earned Value analysis shows that the project is not achieving its planned cost or progress targets. The project is also not achieving quality requirements. Some of the specialized components used for this project are only obtainable from overseas suppliers and are difficult to transport over the rough terrain near the project site. There has been a delay on ordering these components. The transportation of these components, which must be booked several months ahead, has not been arranged, and there is also difficulty with obtaining tradespeople with the requisite set of skills to install them. There are also several other risks associated with this project, including a quite basic business case, rudimentary project charter, poor definition of expected project outcomes, exchange rate risks and the potential for…
(c) Illustrate with suitable examples, the COCOMO I and II model of project management.

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