Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Is Wil over, on, or below cost and sched-ule? Is Wil using earned value?2. How can Wil set up a scheduling variance? farmer who

1. Is Wil over, on, or below cost and sched-ule? Is Wil using earned value?2. How can Wil set up a scheduling variance?

image text in transcribed
farmer who is attending a project manage- ment class in the spring, his off season. When the class topic came to earned value, he was perplexed. Isn't he using EV? Each summer Wil hires crews to shear fields of Christmas trees for the coming holiday sea- son. Shearing entails having a worker use a large machete to shear the branches of the tree into a nice, cone-shaped tree. Wil describes his business as follows: A. I count the number of Douglas Fir Christ- mas trees in the field (24,000). B. Next, I agree on a contract lump sum for shearing with a crew boss for the whole field ($30,000). C. When partial payment for work completed arrives (5 days later), I count or estimate the actual number sheared (6,000 trees). I take the actual as a percent of the total to be sheared and multiply the percent com- plete by total contract amount for the par- tial payment [(6,000/$30,000 = 25%), (.25 x $30,000 = $7500)]

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Great Boss Great Management

Authors: S. M. H. Gibson

1st Edition

9798842893430

More Books

Students also viewed these General Management questions

Question

What is Accounting?

Answered: 1 week ago

Question

Define organisation chart

Answered: 1 week ago

Question

What are the advantages of planning ?

Answered: 1 week ago

Question

Explain the factors that determine the degree of decentralisation

Answered: 1 week ago

Question

What Is acidity?

Answered: 1 week ago