Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume we're halfway through a year-long project that has a total budget of 300000 AED. The amount budgeted through this six-month mark is 205000 AED

Assume we're halfway through a year-long project that has a total budget of 300000 AED. The amount budgeted through this six-month mark is 205000 AED and a total of 190000 AED spent. Calculate the following:

a) Budget at Completion (BAC)

b) Planned Value (PV)

c) Actual Cost (AC)

d) Earned Value (EV)

e) Cost Variance (CV)

f) Schedule Variance (SV)

g) Schedule Performance Index (SPI)

h) Cost Performance Index (CPI)

i) Estimated at Completion (EAC)

j) Estimated Time to compete

The project manager must determine how well his project team has performed. Is he ahead of schedule or behind schedule, and is the project team over or under budget? Answer the following:

k) The project is considered behind the schedule, is ahead of schedule, or is as per schedule.

Because SV isAnswer negative or positive andAnswerSPI<1 spi>1 SPI=1 , the project isAnswerbehind the schedule ahead of schedule as per schedule

l) The project is considered over-budgeted, is under-budgeted, or is as budgeted.

Because CV isAnswer negative or positive andAnswerCPI<1 cpi>1 CPI=1 , the project isAnswerover-budgeted under-budgeted as budgeted

Please answer all parts of the question.

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_2

Step: 3

blur-text-image_3

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

Construction Project Management A Complete Introduction

Authors: Alison Dykstra

2nd Edition

0982703430, 978-0982703434

More Books

Students also viewed these General Management questions

Question

What background experience do you have?

Answered: 1 week ago

Question

Examine various types of executive compensation plans.

Answered: 1 week ago

Question

1. What is the meaning and definition of banks ?

Answered: 1 week ago

Question

2. What is the meaning and definition of Banking?

Answered: 1 week ago

Question

3.What are the Importance / Role of Bank in Business?

Answered: 1 week ago