Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

After week 5 in the project your project accountant provided you with the latest financial data for the four construction packages you are managing (see

image text in transcribedimage text in transcribed

After week 5 in the project your project accountant provided you with the latest financial data for the four construction packages you are managing (see Table 2). Each of the four projects are pipe laying operations of the same time and cost magnitude and very similar site conditions i.e. 8 weeks scheduled time and $84,000 budgeted costs. However, each of these projects has a different foreman with different levels of experience and management ability. Table 2 Project Financial Data From the above-mentioned project's financial information: a) Draw the cost curve for Project A? Include BCWS, BCWP and ACWP details and fully label the curve? b) What are the Schedule Variance (SV) and Cost Variance (CV) for the four projects at week 5? Describe the status of each of the four projects A, B, C, and D detailed above? c) In detail, describe what may have caused each of these situations in the four work packages? Explore the advantages and disadvantages of each situation and outline some deeper management considerations that may have contributed? d) Identify the under performing projects and suggest some management strategies to regain control of the schedule and/or cost situation? After week 5 in the project your project accountant provided you with the latest financial data for the four construction packages you are managing (see Table 2). Each of the four projects are pipe laying operations of the same time and cost magnitude and very similar site conditions i.e. 8 weeks scheduled time and $84,000 budgeted costs. However, each of these projects has a different foreman with different levels of experience and management ability. Table 2 Project Financial Data From the above-mentioned project's financial information: a) Draw the cost curve for Project A? Include BCWS, BCWP and ACWP details and fully label the curve? b) What are the Schedule Variance (SV) and Cost Variance (CV) for the four projects at week 5? Describe the status of each of the four projects A, B, C, and D detailed above? c) In detail, describe what may have caused each of these situations in the four work packages? Explore the advantages and disadvantages of each situation and outline some deeper management considerations that may have contributed? d) Identify the under performing projects and suggest some management strategies to regain control of the schedule and/or cost situation

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

Broadcasting Finance In Transition

Authors: Jay G. Blumler, T. J. Nossiter

1st Edition

ISBN: 0195050894, 978-0195050899

More Books

Students also viewed these Finance questions

Question

Thums - up 9 1 8 .

Answered: 1 week ago

Question

Write short notes on Interviews.

Answered: 1 week ago