CP3 Start Data Directions For CP3 you will set your CP2 project and document deliverable aside and start fresh Your task is to use this document and the data provided to create a project file using Microsoft Project The data below will establish a project budget and schedule baseline with Budget $4,449,920 00 and a highly desired completion date of 12 19 08 We are trying to create a scenario for a time that is 'out in the future' here We are fast forwarding the project and loading some fictional information to create a scenario for you to analyze using Earned Value and then provide course corrections to the project The project at this future date shows that our project is not performing very well However, you are given the opportunity to make some changes to the project to still complete it on the desired date of 12 19 08 These directions help you set the Gantt to represent the anticipated 50 completion 'date' of 10 1 08 This is the date where the project 'should be' 50 complete You do NOT set the project to 50 complete, you set it to 40 These are two different things and these 2 parameters set up the scenario for you to generate EV data and tell me about how the project is doing Complete (The Reality) The 40 should be set by you by setting the top level task (project name) to 40 This is how 'done' we are saying we actually are with the project at this point in time Scheduled (The Plan) The date (i e point in time) provided for the review fast forwards the project to the 'anticipated' 50 project scheduled date This is the date on the calendar when we 'wanted' to be 50 complete First, change the project start date to Mon 4 14 08 Use the following data to setup your baseline project file Adjust indenting to match WBS coding provided In MSP right mouse click the header row and insert a WBS Column as shown Do not add durations or dates for the Summary Tasks because these will populate for you when you enter the lower task information WBS Task Name Duration Start 1 Theme Park Project 175 days 4 14 2008 12 19 2008 1 1 Site Layout Site Grading 10 days 4 14 2008 4 25 2008 1 2 Footings Foundations 55 days 4 28 2008 7 11 2008 1 3 Masonry 60 days 5 19 2008 8 8 2008 3SS 15 days 1 4 Frames, Columns and Beams 40 days 7 7 2008 8 29 2008 4SS 35 days 1 5 Joists Roof Deck 30 days 9 1 2008 10 10 2008 5 1 6 Slab on Grade 35 days 7 14 2008 8 29 2008 3 1 7 Rough Carpentry 35 days 9 1 2008 10 17 2008 7 qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Finish Predecessors 2 Page 1 CP3 Start Data 1 8 Interior Studs 20 days 9 1 2008 9 26 2008 1 9 Interior Drywall 30 days 10 13 2008 11 21 2008 9,6 1 10 Painting 35 days 10 27 2008 12 12 2008 10FS 20 days 1 11 Elevator 30 days 9 1 2008 10 10 2008 7 1 12 Doors 5 days 10 20 2008 10 24 2008 8 1 13 Custom Theme Painting 15 days 11 3 2008 11 21 2008 11SS 5 days 1 14 Flooring 15 days 11 17 2008 12 5 2008 10FS 5 days 1 15 Finish Carpentry 15 days 11 17 2008 12 5 2008 10FS 5 days 1 16 3 days 12 8 2008 12 10 2008 1 17 Bathroom Compartments Accessories Plumbing 85 days 7 28 2008 11 21 2008 1 17 1 Hangers Supports 40 days 7 28 2008 9 19 2008 1 17 2 Pipes Fittings 40 days 9 22 2008 11 14 2008 19 1 17 3 Test 5 days 11 17 2008 11 21 2008 20 1 18 HVAC 95 days 7 28 2008 12 5 2008 1 18 1 Stacks Vents 30 days 7 28 2008 9 5 2008 1 18 2 Hangers Supports 30 days 9 8 2008 10 17 2008 23 1 18 3 Ductwork Piping 30 days 10 20 2008 11 28 2008 24 1 18 4 Test 5 days 12 1 2008 12 5 2008 25 1 19 Electrical 95 days 7 28 2008 12 5 2008 1 19 1 Boxes 25 days 7 28 2008 8 29 2008 3FS 10 days 1 19 2 Conduit 25 days 9 1 2008 10 3 2008 28 1 19 3 20 days 10 6 2008 10 31 2008 29 1 19 4 Wiring Devices Switches Receptacles Light Fixtures 20 days 11 3 2008 11 28 2008 30 1 19 5 Test 5 days 12 1 2008 12 5 2008 31 1 20 Mechanicals Complete 1 day 12 8 2008 12 8 2008 21,26,32 1 21 Attraction Install and Training 146 days 9 9 2008 12 12 2008 qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx 7 16 3FS 10 days 3FS 10 days Page 2 CP3 Start Data 1 21 1 Ferris Wheel 137 days 9 29 2008 11 21 2008 1 21 1 1 Ferris Wheel to ship 3 days 9 29 2008 10 1 2008 1 21 1 2 Ferris Wheel Legs fan install 6 days 10 2 2008 10 9 2008 1 21 1 3 Ferris Wheel gondola install 6 days 10 10 2008 10 17 2008 37 1 21 1 4 Ferris Wheel MEP install 6 days 10 20 2008 10 27 2008 38 1 21 1 5 Ferris wheel platform design 2 days 10 28 2008 10 29 2008 39 1 21 1 6 Ferris Wheel Platform 6 days 10 30 2008 11 6 2008 40 1 21 1 7 Ferris Wheel Railing 6 days 11 7 2008 11 14 2008 41 1 21 1 8 Ferris wheel turnstile 3 days 11 17 2008 11 19 2008 42 1 21 1 9 Ferris wheel Training 1 day 11 20 2008 11 20 2008 43 1 21 1 10 Ferris Wheel Certification 1 day 11 21 2008 11 21 2008 44 1 21 2 Ropes course install Training 30 days 9 9 2008 10 20 2008 7 1 21 3 Climbing wall install Training 10 days 11 24 2008 12 5 2008 7 1 21 4 Carousel install Training 13 days 11 6 2008 11 24 2008 7 1 21 5 Bowling install Training 40 days 10 17 2008 12 11 2008 7 1 21 6 Go Cart install Training 45 days 10 6 2008 12 5 2008 7 1 21 7 Mini Golf install Training 15 days 11 17 2008 12 5 2008 7 1 21 8 1 day 12 12 2008 12 12 2008 1 22 Attraction install and training complete Furniture Installation 5 days 12 8 2008 12 12 2008 1 23 System and Security Training 3 days 12 15 2008 12 17 2008 52 1 24 Final Walkthrough 1 day 12 18 2008 12 18 2008 1 25 Grand Opening 1 day 12 19 2008 12 19 2008 12,14,15,16,17, 52,53,54 55 36,7 45,46,47,48,49, 50,51 Next enter the Working Resource data below into the project Resource Sheet View Resource Sheet Resource Name Type Initials Max Units Std Rate Customer Architect Work Work C A 400 300 $0 00 hr $125 00 hr qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Accrue At Prorated Prorated Page 3 CP3 Start Data Engineer Electrician Electrician 2 Builder Landscaper Builder 1 Builder 2 Builder 3 Builder 4 Painter Plumber Steamfitter Steamfitter 2 FW Supplier Ride Supplier Work Work Work Work Work Work Work Work Work Work Work Work Work Work Work E E E B L B B B B P P S S F R 500 200 100 600 100 100 100 100 100 300 100 100 100 100 600 $125 00 hr $80 00 hr $300 00 hr $65 00 hr $50 00 hr $85 00 hr $85 00 hr $85 00 hr $85 00 hr $200 00 hr $150 00 hr $125 00 hr $200 00 hr $100 00 hr $100 00 hr Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Now assign the resources to the project tasks as described below WBS Task Name Resources 1 Theme Park Project 1 1 Site Layout Site Grading Architect 1 2 Footings Foundations Builder 1 3 Masonry Builder 1 4 Frames, Columns and Beams Builder 1 5 Joists Roof Deck Builder 1 6 Slab on Grade Builder 1 7 Rough Carpentry Builder 1 8 Interior Studs Builder qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 4 CP3 Start Data 1 9 Interior Drywall Builder 1 10 Painting Painter 1 11 Elevator Builder 1 12 Doors Builder 1 13 Theme Painting Painter 1 14 Flooring Builder 1 1 15 Finish Carpentry Builder 2 1 16 Bathroom Compartments Accessories Builder 1 17 Plumbing 1 17 1 Hangers Supports Plumber 1 17 2 Pipes Fittings Plumber 1 17 3 Test Plumber 1 18 HVAC 1 18 1 Stacks Vents Steamfitter 1 18 2 Hangers Supports Steamfitter 1 18 3 Ductwork Piping Steamfitter qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 5 CP3 Start Data Steamfitter 1 18 4 Test 1 19 Electrical 1 19 1 Boxes Electrician 1 19 2 Conduit Electrician 1 19 3 Wiring Devices Switches Receptacles 1 19 4 Light Fixtures Electrician 1 19 5 Test Electrician 1 20 Mechanicals Complete 1 21 Attraction Install and Training 1 21 1 Ferris Wheel 1 21 1 1 Ferris Wheel to ship FW Supplier 1 21 1 2 Ferris Wheel Legs fan install FW Supplier 1 21 1 3 Ferris Wheel gondola install FW Supplier 1 21 1 4 Ferris Wheel MEP install FW Supplier Electrician qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 6 CP3 Start Data 1 21 1 5 Ferris wheel platform design FW Supplier 1 21 1 6 Ferris Wheel Platform FW Supplier 1 21 1 7 Ferris Wheel Railing FW Supplier 1 21 1 8 Ferris wheel turnstyle FW Supplier 1 21 1 9 Ferris wheel Training FW Supplier 1 21 1 10 Ferris Wheel Certification FW Supplier 1 21 2 Ropes course install Training Ride Supplier 1 21 3 Climbing wall install Training Ride Supplier 1 21 4 Carousel install Training Ride Supplier 1 21 5 Bowling install Training Ride Supplier 1 21 6 Go Cart install Training Ride Supplier 1 21 7 Mini Golf install Training Ride Supplier 1 21 8 Attraction install and training complete 1 22 Furniture Installation Builder 3 1 23 System and Security Training Builder 4 1 24 Final Walkthrough Builder,Customer qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 7 CP3 Start Data 1 25 Grand Opening Customer Now we have to add the material costs for each task In MSP we do this by adding a Prorated Fixed Cost in the Detail Gantt View, Table Cost View WBS Task Name 1 Theme Park Project Fixed Cost $0 00 1 1 Site Layout Site Grading $10,000 00 1 2 Footings Foundations $30,000 00 1 3 Masonry 1 4 Frames, Columns and Beams $150,000 0 0 $85,000 00 1 5 Joists Roof Deck 1 6 Slab on Grade 1 7 Rough Carpentry 1 8 Interior Studs $200,000 0 0 $250,000 0 0 $175,000 0 0 $20,000 00 1 9 Interior Drywall $30,000 00 1 10 Painting $45,000 00 1 11 Elevator $80,000 00 1 12 Doors $25,000 00 1 13 Theme Painting $30,000 00 1 14 Flooring 1 15 Finish Carpentry $150,000 0 0 $125,000 0 0 $15,000 00 1 16 1 17 Bathroom Compartments Accessories Plumbing $0 00 1 17 1 Hangers Supports $30,000 00 1 17 2 Pipes Fittings $40,000 00 qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 8 CP3 Start Data 1 17 3 1 18 Test $2,000 00 HVAC $0 00 1 18 1 Stacks Vents $25,000 00 1 18 2 Hangers Supports $10,000 00 1 18 3 Ductwork Piping $40,000 00 1 18 4 Test 1 19 Electrical $5,000 00 $0 00 1 19 1 Boxes $35,000 00 1 19 2 Conduit $15,000 00 1 19 3 1 19 4 1 19 5 Wiring Devices Switches Receptacles Light Fixtures Test $20,000 00 $40,000 00 $10,000 00 1 20 Mechanicals Complete $0 00 1 21 Attraction Install and Training $0 00 1 21 1 Ferris Wheel $0 00 1 21 1 1 Ferris Wheel to ship $250,000 0 0 $4,000 00 1 21 1 2 Ferris Wheel Legs fan install 1 21 1 3 Ferris Wheel gondola install $3,000 00 1 21 1 4 Ferris Wheel MEP install $5,000 00 1 21 1 5 Ferris wheel platform design $1,000 00 1 21 1 6 Ferris Wheel Platform 1 21 1 7 Ferris Wheel Railing $5,000 00 1 21 1 8 Ferris wheel turnstyle $2,000 00 1 21 1 9 Ferris wheel Training $5,000 00 1 21 1 10 Ferris Wheel Certification $1,000 00 $15,000 00 1 21 2 Ropes course install Training 1 21 3 Climbing wall install Training $180,000 0 0 $80,000 00 1 21 4 Carousel install Training $30,000 00 qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 9 CP3 Start Data 1 21 5 Bowling install Training 1 21 6 Go Cart install Training 1 21 7 Mini Golf install Training 1 21 8 $350,000 0 0 $890,000 0 0 $65,000 00 1 22 Attraction install and training complete Furniture Installation $0 00 1 23 System and Security Training $110,000 0 0 $10,000 00 1 24 Final Walkthrough $15,000 00 1 25 Grand Opening $30,000 00 CRITICAL STEP Next, start tracking the project by setting the project baseline Project Tools Set Baseline Set Baseline Set Baseline OK Next, set the project complete to 40 by adjusting the complete column for the project header task (Theme Park Project) This will adjust all task completions to a complete based on the baseline schedule Next, adjust the Project Current Date to 10 1 08 AND adjust the Project Status Date to 10 1 08 Project Project Information Now we have to adjust a few task fixed costs because we have spent more on materials than we had estimated In MSP we do this by adjusting the Prorated Fixed Cost in the Detail Gantt View, Table Cost View WBS Task Name 1 2 Footings Foundations 1 6 Slab on Grade 1 14 Flooring 1 18 1 Stacks Vents Fixed Cost $100,000 0 0 $300,000 0 0 $200,000 0 0 $50,000 00 We now are 'OUT IN THE FUTURE' on the 10 1 08 day Let's see how the project is doing CRITICAL STEP Because we are behind, we need to move all the incomplete work into the future to get a true look at the estimated completion date Select to Reschedule Incomplete Work to start date after 10 1 08 Project Update Project Select OK qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 10 CP3 Start Data What's the new projected completion date After we look at Earned Value below, we will have to do something about this issue In the Tracking Gantt Earned Value view, use the project file to perform your Earned Value Analysis as described on the Project Tab under Course Home Use the project file and your analysis to complete the Project Status Report which you will be submitting to the CP3 DropBox View Tables More Views Earned Value As mentioned above, the project at this future date shows that our project is not performing very well Analyze the project and report on it Make your changes The good news is you are given the opportunity to make some changes to the project to still complete it on the desired date of 12 19 08 You can do this by analyzing the critical path activities and then making changes to the project to pull the date in Make your changes, for example to resources Analyze the result of these changes to the project dates and the project costs (i e the date should improve and then cost may increase Assume you need to do something proactive to catch up and then explain the impact of those changes Integration into WORD There are two simple formatting tricks to get the MSP data into the WORD document 1) Change the time scale to shrink down the MSP Gantt chart Right click on the timeline to open a screen which lists Top, Middle and Bottom tabs On the Middle tab select Quarters On the Bottom Tab, select Months 2) Print the MSP file For a printer driver select Microsoft Office Document Image Writer (If you have this driver available to you) Save the file somewhere you can find it on your C drive Insert as a picture file (Tif) into your Word Document If this doesn't work you may need to use print screen or some other screen capture tool like SnipIt qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 11 Indoor Theme 1 INDOOR THEME NAME INSITUTION JUNE, 2016 Indoor Theme Executive summary Brief summary item detail Name of the project Indoor theme Duration of the project 192 days Estimated cost $122,300 The project involves building a new indoor theme park project with regards to the building standards provided by the Engineering Standards of USA It is expected that this project would be executed with highly quality materials that would cost the company around $80,000 The 2 Indoor Theme 3 company would also get a 20 of the project cost It's expected to start on June 6 th,2016 and end on February 3rd, 2017 Schedule 1 MSP Gantt chart schedule Score boarding answer project Conclusion Painting of the Interior Procuring Painting personnel Drafting painting costs Structural reviews Light Review arranging lights Pairing seats Dressing room Roof Test Steel installation Pouring concrete excavation Installation of Electricity Filling playing field Surface drainage Site Clearing Project Administration Work Human Resource management Procurement Management Scope Management Cost management Project Communication Plan Initial Planning 1 31 2016 Performance analysis Duration (days) Start 5 10 2016 8 18 2016 11 26 2016 3 6 2017 Indoor Theme 4 Performance analysis is a special discipline involving chronological observations to enhance the performance of a particular project and to also improve the decision making policies (Martilla, 1977) This project involves indoor theming Various aspects have been put in place to ensure the best outcome Its therefore good to test the performance of the whole proceedings based on the above data The cost of the whole project (theming) has been estimated by the project managers to be $122,300 As a result, the performance is expected to match this considerable cost For example, the painting of walls is estimated to be $27,910 00 low quality painting would be highly reject Cost and schedule analysis are widely accepted in many firms as they are measures of the effort made and the success attained (J Beach,2008) one method to measure the cost and schedule analysis is the earned value analysis (EVA) In our case, the house is expected to be well prepared and applied the indicated theme before approval Estimate at completion If I were to talk about forecasting, I would conclude by saying that, it helps us know or predict the future Similarly, in project management forecasting can be used to come up with the possible future performances of a particular project (Christensen, 1992, p 207 224) However, this prediction is made based on the past performance or the criteria applied in this project as well as the objective data This is what provides you with the visibility of whether the future of the project is bright or anything wrong might happen Indoor Theme 5 In a nutshell, things in the real world do not always go as planned Sometimes unavoidable or uncontrollable circumstances may lead to people getting results they never expected Now we are going to assume that the project will continue to perform as it is performing now And now the project is so far a success ESTIMATE AT COMPLEATION BUDGET AT COMPLETION COST PERFOMANCE INDEX This means that if our CPI is a success and is 1, then Estimate at completion budget at completion In this case our estimate at completion would be $122,300 Cost and schedule control plan This project to get back to the track, needs some control plans As said before, one cannot be hundred percent sure that the project would be surely a success As much as the cost performance index is one, this fact cannot guarantee that the end of the project will be a great success, but just gives the project manager some positive hopes that things might go well For this project to be surely a success then some amount of money need to be added This would cover for cases of losses and make sure that the estimate at completion is reached The goal is having a well themed house In this case we are assuming the project is fifty percent complete The remaining fifty percent would be allocated some money in each sector to enhance the possibility of meeting the target Task Name Score boarding and project Conclusion Costs $18,120 00 Painting of walls and interior $30,910 00 Indoor Theme Procuring Painting personnel Drafting painting costs Structural reviews Light Review Arranging lights Pairing seats Dressing room Roof Test 6 $15,395 00 $14,545 00 $10,000 00 $22,500 00 $16,500 00 $10,000 00 $2,000 00 $4,000 00 Revised estimate at completion On adding the above information, the CPI is bound to change and hence a new Estimate At Completion Budget at Completion $184,302 00 Actual Cost $139, 582 00 Planned Value 50 of $184,302 00 92151 Earned Value $100,000 CPI 100000 139582 0 72 Now, ESTIMATE AT COMPLEATION BUDGET AT COMPLETION COST PERFOMANCE INDEX EAC $184,302 00 0 72 $132038 51, hence $132038 51 exceed $9,2151 by $ 39887 51 This means that at the end of the project $39887 will exceed the targeted amount This will result to $224,189 00 Schedule 2 including revised MSP Gantt chart Indoor Theme 7 Duration (days) Start 1 31 2016 8 18 2016 3 6 2017 References Martilla, J A , James, J C (1977) Importance performance analysis The journal of marketing, 77 79 Christensen, D S , Antolini, R C , McKinney, J W (1992) A review of estimate at completion research In Cost estimating and analysis (pp 207 224) Springer New York Indoor Theme 1 INDOOR THEME NAME INSITUTION JUNE, 2016 Indoor Theme Executive summary Brief summary item detail Name of the project Indoor theme Duration of the project 192 days Estimated cost $122,300 The project involves building a new indoor theme park project with regards to the building standards provided by the Engineering Standards of USA It is expected that this project would be executed with highly quality materials that would cost the company around $80,000 The 2 Indoor Theme 3 company would also get a 20 of the project cost It's expected to start on June 6 th,2016 and end on February 3rd, 2017 Schedule 1 MSP Gantt chart schedule Score boarding answer project Conclusion Painting of the Interior Procuring Painting personnel Drafting painting costs Structural reviews Light Review arranging lights Pairing seats Dressing room Roof Test Steel installation Pouring concrete excavation Installation of Electricity Filling playing field Surface drainage Site Clearing Project Administration Work Human Resource management Procurement Management Scope Management Cost management Project Communication Plan Initial Planning 1 31 2016 Performance analysis Duration (days) Start 5 10 2016 8 18 2016 11 26 2016 3 6 2017 Indoor Theme 4 Performance analysis is a special discipline involving chronological observations to enhance the performance of a particular project and to also improve the decision making policies (Martilla, 1977) This project involves indoor theming Various aspects have been put in place to ensure the best outcome Its therefore good to test the performance of the whole proceedings based on the above data The cost of the whole project (theming) has been estimated by the project managers to be $122,300 As a result, the performance is expected to match this considerable cost For example, the painting of walls is estimated to be $27,910 00 low quality painting would be highly reject Cost and schedule analysis are widely accepted in many firms as they are measures of the effort made and the success attained (J Beach,2008) one method to measure the cost and schedule analysis is the earned value analysis (EVA) In our case, the house is expected to be well prepared and applied the indicated theme before approval Estimate at completion If I were to talk about forecasting, I would conclude by saying that, it helps us know or predict the future Similarly, in project management forecasting can be used to come up with the possible future performances of a particular project (Christensen, 1992, p 207 224) However, this prediction is made based on the past performance or the criteria applied in this project as well as the objective data This is what provides you with the visibility of whether the future of the project is bright or anything wrong might happen Indoor Theme 5 In a nutshell, things in the real world do not always go as planned Sometimes unavoidable or uncontrollable circumstances may lead to people getting results they never expected Now we are going to assume that the project will continue to perform as it is performing now And now the project is so far a success ESTIMATE AT COMPLEATION BUDGET AT COMPLETION COST PERFOMANCE INDEX This means that if our CPI is a success and is 1, then Estimate at completion budget at completion In this case our estimate at completion would be $122,300 Cost and schedule control plan This project to get back to the track, needs some control plans As said before, one cannot be hundred percent sure that the project would be surely a success As much as the cost performance index is one, this fact cannot guarantee that the end of the project will be a great success, but just gives the project manager some positive hopes that things might go well For this project to be surely a success then some amount of money need to be added This would cover for cases of losses and make sure that the estimate at completion is reached The goal is having a well themed house In this case we are assuming the project is fifty percent complete The remaining fifty percent would be allocated some money in each sector to enhance the possibility of meeting the target Task Name Score boarding and project Conclusion Costs $18,120 00 Painting of walls and interior $30,910 00 Indoor Theme Procuring Painting personnel Drafting painting costs Structural reviews Light Review Arranging lights Pairing seats Dressing room Roof Test 6 $15,395 00 $14,545 00 $10,000 00 $22,500 00 $16,500 00 $10,000 00 $2,000 00 $4,000 00 Revised estimate at completion On adding the above information, the CPI is bound to change and hence a new Estimate At Completion Budget at Completion $184,302 00 Actual Cost $139, 582 00 Planned Value 50 of $184,302 00 92151 Earned Value $100,000 CPI 100000 139582 0 72 Now, ESTIMATE AT COMPLEATION BUDGET AT COMPLETION COST PERFOMANCE INDEX EAC $184,302 00 0 72 $132038 51, hence $132038 51 exceed $9,2151 by $ 39887 51 This means that at the end of the project $39887 will exceed the targeted amount This will result to $224,189 00 Schedule 2 including revised MSP Gantt chart Indoor Theme 7 Duration (days) Start 1 31 2016 8 18 2016 3 6 2017 References Martilla, J A , James, J C (1977) Importance performance analysis The journal of marketing, 77 79 Christensen, D S , Antolini, R C , McKinney, J W (1992) A review of estimate at completion research In Cost estimating and analysis (pp 207 224) Springer New York Project Status Report on Theme Park Project Executive Summary This paper presents a methodological evaluation on importance and performance measurement In project management, performance metrics are utilized to make an assessment of the health of a project It consists of seven criteria which are safety, time,cost, resources,scope, quality and actions A Project Manager introduces project management to a project when changes in the viability of a project needs to be re assessed Since time is money, this Theme Park project involves resources such as labor and rented capital that will cost more if the project is extended beyond completion date A project is defind as complex, nonroutine, one time effort limited by time, budget, resources, and performance specifications designed to meet specific needs'' (Gray Larson,2008) However, it is important not to lose sight of the initial goals and targets of the projects When the changes accumulate, the forecasted result may not tally with the original proposed investment in the project Hence, a successful project management identifies these components, and tracks and monitors progress so as to stay within time and budget frames already outlined at the commencement of the project s The construction of a project baseline schedule involves the definition of start and finish times for each project activity, using earliest and latest start calculations with or without the presence of limited resources There is a wide range of techniques available for such activity such as PEST and CPM Although, it is generally accepted that in everything uncertainity exists and the project may not go according to plan To know whether a project is behind or ahead of schedule or on time of completion Project Manager has to conduct critical path analysis (CPM) which is based on the interdependence of the project activities WBS 1 Task Name Theme Park Project Duration 175 days Start 4 14 2008 Finish 12 19 2008 Predecessors Project Status Report on Theme Park Project 1 1 1 2 1 3 1 4 1 5 1 6 1 7 1 8 1 9 1 10 1 11 1 12 1 13 1 14 1 15 1 16 1 17 1 17 1 1 17 2 1 17 3 1 18 1 18 1 1 18 2 1 18 3 1 18 4 1 19 1 19 1 1 19 2 1 19 3 1 19 4 1 19 5 1 20 1 21 1 21 1 1 21 1 1 1 21 1 2 1 21 1 3 1 21 1 4 1 21 1 5 1 21 1 6 1 21 1 7 1 21 1 8 1 21 1 9 1 21 1 10 1 21 2 Site Layout Site Grading Footings Foundations Masonry Frames, Columns and Beams Joists Roof Deck Slab on Grade Rough Carpentry Interior Studs Interior Drywall Painting Elevator Doors Custom Theme Painting Flooring Finish Carpentry Bathroom Compartments Accessories Plumbing Hangers Supports Pipes Fittings Test HVAC Stacks Vents Hangers Supports Ductwork Piping Test Electrical Boxes Conduit Wiring Devices Switches Receptacles Light Fixtures Test Mechanicals Complete Attraction Install and Training Ferris Wheel Ferris Wheel to ship Ferris Wheel Legs fan install Ferris Wheel gondola install Ferris Wheel MEP install Ferris wheel platform design Ferris Wheel Platform Ferris Wheel Railing Ferris wheel turnstile Ferris wheel Training Ferris Wheel Certification Ropes course install Training 10 days 55 days 60 days 40 days 30 days 35 days 35 days 20 days 30 days 35 days 30 days 5 days 15 days 15 days 15 days 3 days 4 14 2008 4 28 2008 5 19 2008 7 7 2008 9 1 2008 7 14 2008 9 1 2008 9 1 2008 10 13 2008 10 27 2008 9 1 2008 10 20 2008 11 3 2008 11 17 2008 11 17 2008 12 8 2008 4 25 2008 7 11 2008 8 8 2008 8 29 2008 10 10 2008 8 29 2008 10 17 2008 9 26 2008 11 21 2008 12 12 2008 10 10 2008 10 24 2008 11 21 2008 12 5 2008 12 5 2008 12 10 2008 85 days 40 days 40 days 5 days 95 days 30 days 30 days 30 days 5 days 95 days 25 days 25 days 20 days 7 28 2008 7 28 2008 9 22 2008 11 17 2008 7 28 2008 7 28 2008 9 8 2008 10 20 2008 12 1 2008 7 28 2008 7 28 2008 9 1 2008 10 6 2008 11 21 2008 9 19 2008 11 14 2008 11 21 2008 12 5 2008 9 5 2008 10 17 2008 11 28 2008 12 5 2008 12 5 2008 8 29 2008 10 3 2008 10 31 2008 20 days 5 days 1 day 146 days 137 days 3 days 6 days 6 days 6 days 2 days 6 days 6 days 3 days 1 day 1 day 30 days 11 3 2008 12 1 2008 12 8 2008 9 9 2008 9 29 2008 9 29 2008 10 2 2008 10 10 2008 10 20 2008 10 28 2008 10 30 2008 11 7 2008 11 17 2008 11 20 2008 11 21 2008 9 9 2008 11 28 2008 12 5 2008 12 8 2008 12 12 2008 11 21 2008 10 1 2008 10 9 2008 10 17 2008 10 27 2008 10 29 2008 11 6 2008 11 14 2008 11 19 2008 11 20 2008 11 21 2008 10 20 2008 2 3SS 15 days 4SS 35 days 5 3 7 7 9,6 10FS 20 days 7 8 11SS 5 days 10FS 5 days 10FS 5 days 16 3FS 10 days 19 20 3FS 10 days 23 24 25 3FS 10 days 28 29 30 31 21,26,32 36,7 37 38 39 40 41 42 43 44 7 Project Status Report on Theme Park Project 1 21 3 1 21 4 1 21 5 1 21 6 1 21 7 1 21 8 1 22 1 23 1 24 1 25 Climbing wall install Training Carousel install Training Bowling install Training Go Cart install Training Mini Golf install Training Attraction install and training complete Furniture Installation System and Security Training Final Walkthrough 10 days 13 days 40 days 45 days 15 days 1 day 11 24 2008 11 6 2008 10 17 2008 10 6 2008 11 17 2008 12 12 2008 12 5 2008 11 24 2008 12 11 2008 12 5 2008 12 5 2008 12 12 2008 5 days 3 days 1 day 12 8 2008 12 15 2008 12 18 2008 12 12 2008 12 17 2008 12 18 2008 Grand Opening 1 day 12 19 2008 12 19 2008 7 7 7 7 7 45,46,47,48,49,50 ,51 52 12,14,15,16,17,52 ,53,54 55 Schedule 1 an MSP Grant Chart The Grant chart was created by Henry Gantt in 1910s It is a structure that breaks a large project into smaller manageable sections that shows the project manager to see the specific activities of work completed Project Status Report on Theme Park Project 30 Dec 30 Dec 30 Dec 30 Dec 30 Dec 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec 1 Jan Duration Task Duration Start Performance Analysis of Theme Park Project The Theme Park Project duration was175 days Starting date 14 4 08 and at the future completion date 12 19 08 The data analysis shows that the project is not performing very well The CPI is leass that one and the budget is overrun The Gantt chart and Expected Value Project Status Report on Theme Park Project shows how healthy the project is by computing the CPI From the scenario we can extract the following BAC $4,449,920 00 In this case, actual cost is the sum of fixed costs Actual Cost $3,911,000 00 Earned Value Analysis in project cost management Project Cost Management involves monitoring project performance based on indices pertaining to project cost and schedule The cost performance index (CPI) by conducting Project Tracking with Earned Value Analysis (EVA) The Earned Value Analysis is part of the control cost It quantifies the PV and EV The EVA formula consists of cost performance index (CPI) Represents the amount of work being completed on a project for every unit of cost spent CPI is computed by Earned Value Actual Cost A value of above 1 means that the project is doing well against the budget A value below one indicates the actual cost exceeds budgeted cost Theme Park Project budget scheduled is $4,449,920 00 It is planned that the project spends 50 of the approved budget However, after the start of the project The completion work is incomplete which means the project is not doing well EV Earned value AC Actual Cost CPI EV AC BAC Budget at Completion Actual completion 50 EV Actual Completion ( ) BAC 50 $4,449,920 $2,224,960 EV $2,224,960 Project Status Report on Theme Park Project Earned value variance Cost Performance Index (CPI) EV AC $4,449,920 3,911,000 1 13 The EV assigns a value to the work completed at any point in time However, the Cost Performance Index is 1 which indicate the Theme Park Project is a success and the actual costs for the work performed to date is below the budgeted costs Clearly, in this scenario the situation is not worsening The cost performance project is greater than one This means the budget is successful but it is not a guarantee the end product of the project would be a great success It only gives the project manageer a positive insight into the true progress of the project In addition, the CPI 1 means for every $1 spent, the project is producing only $1 13 cents in work Performance analysis Note the project completion was scheduled to 10 1 08 It is planned that the spend 40 of the approved budget The performance analysis is calculated utilizing earned value data to analyze the project cost and schedule performance The project value is estimated at $4,449,920 00 and the performance is expected to match the cost Estimate at completion including a forward looking estimate of the project completion date and the final project costs Cost and Schedule providing a corrective action plan to bring the project back in line with your project baseline Revised estimate at completion including the corrective actions from the control plan along with the resulting cost and schedule impact Schedule 2 including revised MSP Gantt chart schedule (required) that reflects the impact of your corrective actions

Question

CP3 Start Data Directions For CP3 you will set your CP2 project and document deliverable aside and start fresh  Your task is to use this document and the data provided to create a project file using Microsoft Project  The data below will establish a project budget and schedule baseline with Budget   $4,449,920 00 and a highly desired completion date of 12 19 08  We are trying to create a scenario for a time that is 'out in the future' here  We are fast forwarding the project and loading some fictional information to create a scenario for you to analyze using Earned Value and then provide course corrections to the project  The project at this future date shows that our project is not performing very well  However, you are given the opportunity to make some changes to the project to still complete it on the desired date of 12 19 08  These directions help you set the Gantt to represent the anticipated 50  completion 'date' of 10 1 08  This is the date where the project 'should be' 50  complete  You do NOT set the project to 50  complete, you set it to 40   These are two different things and these 2 parameters set up the scenario for you to generate EV data and tell me about how the project is doing    Complete (The Reality) The 40  should be set by you by setting the top level task (project name) to 40   This is how 'done' we are saying we actually are with the project at this point in time    Scheduled (The Plan) The date (i e  point in time) provided for the review fast forwards the project to the 'anticipated' 50  project scheduled date  This is the date on the calendar when we 'wanted' to be 50  complete  First, change the project start date to Mon 4 14 08  Use the following data to setup your baseline project file  Adjust indenting to match WBS coding provided  In MSP right mouse click the header row and insert a WBS Column as shown  Do not add durations or dates for the Summary Tasks because these will populate for you when you enter the lower task information  WBS Task Name Duration Start 1 Theme Park Project 175 days 4 14 2008 12 19 2008 1 1 Site Layout   Site Grading 10 days 4 14 2008 4 25 2008 1 2 Footings   Foundations 55 days 4 28 2008 7 11 2008 1 3 Masonry 60 days 5 19 2008 8 8 2008 3SS 15 days 1 4 Frames, Columns and Beams 40 days 7 7 2008 8 29 2008 4SS 35 days 1 5 Joists   Roof Deck 30 days 9 1 2008 10 10 2008 5 1 6 Slab on Grade 35 days 7 14 2008 8 29 2008 3 1 7 Rough Carpentry 35 days 9 1 2008 10 17 2008 7 qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Finish Predecessors 2 Page 1 CP3 Start Data 1 8 Interior Studs 20 days 9 1 2008 9 26 2008 1 9 Interior Drywall 30 days 10 13 2008 11 21 2008 9,6 1 10 Painting 35 days 10 27 2008 12 12 2008 10FS 20 days 1 11 Elevator 30 days 9 1 2008 10 10 2008 7 1 12 Doors 5 days 10 20 2008 10 24 2008 8 1 13 Custom Theme Painting 15 days 11 3 2008 11 21 2008 11SS 5 days 1 14 Flooring 15 days 11 17 2008 12 5 2008 10FS 5 days 1 15 Finish Carpentry 15 days 11 17 2008 12 5 2008 10FS 5 days 1 16 3 days 12 8 2008 12 10 2008 1 17 Bathroom Compartments Accessories Plumbing 85 days 7 28 2008 11 21 2008 1 17 1 Hangers   Supports 40 days 7 28 2008 9 19 2008 1 17 2 Pipes   Fittings 40 days 9 22 2008 11 14 2008 19 1 17 3 Test 5 days 11 17 2008 11 21 2008 20 1 18 HVAC 95 days 7 28 2008 12 5 2008 1 18 1 Stacks   Vents 30 days 7 28 2008 9 5 2008 1 18 2 Hangers   Supports 30 days 9 8 2008 10 17 2008 23 1 18 3 Ductwork   Piping 30 days 10 20 2008 11 28 2008 24 1 18 4 Test 5 days 12 1 2008 12 5 2008 25 1 19 Electrical 95 days 7 28 2008 12 5 2008 1 19 1 Boxes 25 days 7 28 2008 8 29 2008 3FS 10 days 1 19 2 Conduit 25 days 9 1 2008 10 3 2008 28 1 19 3 20 days 10 6 2008 10 31 2008 29 1 19 4 Wiring Devices Switches Receptacles Light Fixtures 20 days 11 3 2008 11 28 2008 30 1 19 5 Test 5 days 12 1 2008 12 5 2008 31 1 20 Mechanicals Complete 1 day 12 8 2008 12 8 2008 21,26,32 1 21 Attraction Install and Training 146 days 9 9 2008 12 12 2008 qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx 7 16 3FS 10 days 3FS 10 days Page 2 CP3 Start Data 1 21 1 Ferris Wheel 137 days 9 29 2008 11 21 2008 1 21 1 1 Ferris Wheel to ship 3 days 9 29 2008 10 1 2008 1 21 1 2 Ferris Wheel Legs   fan install 6 days 10 2 2008 10 9 2008 1 21 1 3 Ferris Wheel gondola install 6 days 10 10 2008 10 17 2008 37 1 21 1 4 Ferris Wheel MEP install 6 days 10 20 2008 10 27 2008 38 1 21 1 5 Ferris wheel platform design 2 days 10 28 2008 10 29 2008 39 1 21 1 6 Ferris Wheel Platform 6 days 10 30 2008 11 6 2008 40 1 21 1 7 Ferris Wheel Railing 6 days 11 7 2008 11 14 2008 41 1 21 1 8 Ferris wheel turnstile 3 days 11 17 2008 11 19 2008 42 1 21 1 9 Ferris wheel Training 1 day 11 20 2008 11 20 2008 43 1 21 1 10 Ferris Wheel Certification 1 day 11 21 2008 11 21 2008 44 1 21 2 Ropes course install   Training 30 days 9 9 2008 10 20 2008 7 1 21 3 Climbing wall install   Training 10 days 11 24 2008 12 5 2008 7 1 21 4 Carousel install   Training 13 days 11 6 2008 11 24 2008 7 1 21 5 Bowling install   Training 40 days 10 17 2008 12 11 2008 7 1 21 6 Go Cart install   Training 45 days 10 6 2008 12 5 2008 7 1 21 7 Mini Golf install   Training 15 days 11 17 2008 12 5 2008 7 1 21 8 1 day 12 12 2008 12 12 2008 1 22 Attraction install and training complete Furniture Installation 5 days 12 8 2008 12 12 2008 1 23 System and Security Training 3 days 12 15 2008 12 17 2008 52 1 24 Final Walkthrough 1 day 12 18 2008 12 18 2008 1 25 Grand Opening 1 day 12 19 2008 12 19 2008 12,14,15,16,17, 52,53,54 55 36,7 45,46,47,48,49, 50,51 Next enter the Working Resource data below into the project Resource Sheet  View    Resource Sheet   Resource Name Type Initials Max Units Std  Rate Customer Architect Work Work C A 400  300  $0 00 hr $125 00 hr qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Accrue At Prorated Prorated Page 3 CP3 Start Data Engineer Electrician Electrician 2 Builder Landscaper Builder 1 Builder 2 Builder 3 Builder 4 Painter Plumber Steamfitter Steamfitter 2 FW Supplier Ride Supplier Work Work Work Work Work Work Work Work Work Work Work Work Work Work Work E E E B L B B B B P P S S F R 500  200  100  600  100  100  100  100  100  300  100  100  100  100  600  $125 00 hr $80 00 hr $300 00 hr $65 00 hr $50 00 hr $85 00 hr $85 00 hr $85 00 hr $85 00 hr $200 00 hr $150 00 hr $125 00 hr $200 00 hr $100 00 hr $100 00 hr Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Prorated Now assign the resources to the project tasks as described below  WBS Task Name Resources 1 Theme Park Project 1 1 Site Layout   Site Grading Architect 1 2 Footings   Foundations Builder 1 3 Masonry Builder 1 4 Frames, Columns and Beams Builder 1 5 Joists   Roof Deck Builder 1 6 Slab on Grade Builder 1 7 Rough Carpentry Builder 1 8 Interior Studs Builder qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 4 CP3 Start Data 1 9 Interior Drywall Builder 1 10 Painting Painter 1 11 Elevator Builder 1 12 Doors Builder 1 13 Theme Painting Painter 1 14 Flooring Builder 1 1 15 Finish Carpentry Builder 2 1 16 Bathroom Compartments Accessories Builder 1 17 Plumbing 1 17 1 Hangers   Supports Plumber 1 17 2 Pipes   Fittings Plumber 1 17 3 Test Plumber 1 18 HVAC 1 18 1 Stacks   Vents Steamfitter 1 18 2 Hangers   Supports Steamfitter 1 18 3 Ductwork   Piping Steamfitter qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 5 CP3 Start Data Steamfitter 1 18 4 Test 1 19 Electrical 1 19 1 Boxes Electrician 1 19 2 Conduit Electrician 1 19 3 Wiring Devices Switches Receptacles 1 19 4 Light Fixtures Electrician 1 19 5 Test Electrician 1 20 Mechanicals Complete 1 21 Attraction Install and Training 1 21 1 Ferris Wheel 1 21 1 1 Ferris Wheel to ship FW Supplier 1 21 1 2 Ferris Wheel Legs   fan install FW Supplier 1 21 1 3 Ferris Wheel gondola install FW Supplier 1 21 1 4 Ferris Wheel MEP install FW Supplier Electrician qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 6 CP3 Start Data 1 21 1 5 Ferris wheel platform design FW Supplier 1 21 1 6 Ferris Wheel Platform FW Supplier 1 21 1 7 Ferris Wheel Railing FW Supplier 1 21 1 8 Ferris wheel turnstyle FW Supplier 1 21 1 9 Ferris wheel Training FW Supplier 1 21 1 10 Ferris Wheel Certification FW Supplier 1 21 2 Ropes course install   Training Ride Supplier 1 21 3 Climbing wall install   Training Ride Supplier 1 21 4 Carousel install   Training Ride Supplier 1 21 5 Bowling install   Training Ride Supplier 1 21 6 Go Cart install   Training Ride Supplier 1 21 7 Mini Golf install   Training Ride Supplier 1 21 8 Attraction install and training complete 1 22 Furniture Installation Builder 3 1 23 System and Security Training Builder 4 1 24 Final Walkthrough Builder,Customer qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 7 CP3 Start Data 1 25 Grand Opening Customer Now we have to add the material costs for each task  In MSP we do this by adding a Prorated Fixed Cost in the Detail Gantt View, Table Cost View  WBS Task Name 1 Theme Park Project Fixed Cost $0 00 1 1 Site Layout   Site Grading $10,000 00 1 2 Footings   Foundations $30,000 00 1 3 Masonry 1 4 Frames, Columns and Beams $150,000 0 0 $85,000 00 1 5 Joists   Roof Deck 1 6 Slab on Grade 1 7 Rough Carpentry 1 8 Interior Studs $200,000 0 0 $250,000 0 0 $175,000 0 0 $20,000 00 1 9 Interior Drywall $30,000 00 1 10 Painting $45,000 00 1 11 Elevator $80,000 00 1 12 Doors $25,000 00 1 13 Theme Painting $30,000 00 1 14 Flooring 1 15 Finish Carpentry $150,000 0 0 $125,000 0 0 $15,000 00 1 16 1 17 Bathroom Compartments Accessories Plumbing $0 00 1 17 1 Hangers   Supports $30,000 00 1 17 2 Pipes   Fittings $40,000 00 qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 8 CP3 Start Data 1 17 3 1 18 Test $2,000 00 HVAC $0 00 1 18 1 Stacks   Vents $25,000 00 1 18 2 Hangers   Supports $10,000 00 1 18 3 Ductwork   Piping $40,000 00 1 18 4 Test 1 19 Electrical $5,000 00 $0 00 1 19 1 Boxes $35,000 00 1 19 2 Conduit $15,000 00 1 19 3 1 19 4 1 19 5 Wiring Devices Switches Receptacles Light Fixtures Test $20,000 00 $40,000 00 $10,000 00 1 20 Mechanicals Complete $0 00 1 21 Attraction Install and Training $0 00 1 21 1 Ferris Wheel $0 00 1 21 1 1 Ferris Wheel to ship $250,000 0 0 $4,000 00 1 21 1 2 Ferris Wheel Legs   fan install 1 21 1 3 Ferris Wheel gondola install $3,000 00 1 21 1 4 Ferris Wheel MEP install $5,000 00 1 21 1 5 Ferris wheel platform design $1,000 00 1 21 1 6 Ferris Wheel Platform 1 21 1 7 Ferris Wheel Railing $5,000 00 1 21 1 8 Ferris wheel turnstyle $2,000 00 1 21 1 9 Ferris wheel Training $5,000 00 1 21 1 10 Ferris Wheel Certification $1,000 00 $15,000 00 1 21 2 Ropes course install   Training 1 21 3 Climbing wall install   Training $180,000 0 0 $80,000 00 1 21 4 Carousel install   Training $30,000 00 qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 9 CP3 Start Data 1 21 5 Bowling install   Training 1 21 6 Go Cart install   Training 1 21 7 Mini Golf install   Training 1 21 8 $350,000 0 0 $890,000 0 0 $65,000 00 1 22 Attraction install and training complete Furniture Installation $0 00 1 23 System and Security Training $110,000 0 0 $10,000 00 1 24 Final Walkthrough $15,000 00 1 25 Grand Opening $30,000 00 CRITICAL STEP    Next, start tracking the project by setting the project baseline  Project   Tools    Set Baseline    Set Baseline    Set Baseline    OK  Next, set the project   complete to 40  by adjusting the   complete column for the project header task (Theme Park Project)  This will adjust all task completions to a   complete based on the baseline schedule  Next, adjust the Project Current Date to 10 1 08 AND adjust the Project Status Date to 10 1 08  Project    Project Information  Now we have to adjust a few task fixed costs because we have spent more on materials than we had estimated  In MSP we do this by adjusting the Prorated Fixed Cost in the Detail Gantt View, Table    Cost View  WBS Task Name 1 2 Footings   Foundations 1 6 Slab on Grade 1 14 Flooring 1 18 1 Stacks   Vents Fixed Cost $100,000 0 0 $300,000 0 0 $200,000 0 0 $50,000 00 We now are 'OUT IN THE FUTURE' on the 10 1 08 day  Let's see how the project is doing  CRITICAL STEP    Because we are behind, we need to move all the incomplete work into the future to get a true look at the estimated completion date  Select to Reschedule Incomplete Work to start date after  10 1 08  Project    Update Project   Select    OK qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 10 CP3 Start Data What's the new projected completion date  After we look at Earned Value below, we will have to do something about this issue  In the Tracking Gantt   Earned Value view, use the project file to perform your Earned Value Analysis as described on the Project Tab under Course Home  Use the project file and your analysis to complete the Project Status Report which you will be submitting to the CP3 DropBox  View    Tables    More Views    Earned Value As mentioned above, the project at this future date shows that our project is not performing very well  Analyze the project and report on it  Make your changes The good news is you are given the opportunity to make some changes to the project to still complete it on the desired date of 12 19 08  You can do this by analyzing the critical path activities and then making changes to the project to pull the date in  Make your changes, for example to resources  Analyze the result of these changes to the project dates and the project costs (i e  the date should improve and then cost may increase  Assume you need to do something proactive to catch up and then explain the impact of those changes  Integration into WORD There are two simple formatting tricks to get the MSP data into the WORD document  1) Change the time scale to shrink down the MSP Gantt chart  Right click on the timeline to open a screen which lists Top, Middle and Bottom tabs  On the Middle tab select Quarters  On the Bottom Tab, select Months  2) Print the MSP file  For a printer driver select Microsoft Office Document Image Writer (If you have this driver available to you)  Save the file somewhere you can find it on your C drive  Insert as a picture file (Tif) into your Word Document  If this doesn't work you may need to use print screen or some other screen capture tool like SnipIt  qattachments 37b6d648317ba74de7a2fc3e935f249caf18a3fa docx Page 11 Indoor Theme 1 INDOOR THEME NAME INSITUTION JUNE, 2016 Indoor Theme Executive summary  Brief summary  item detail Name of the project Indoor theme Duration of the project 192 days Estimated cost $122,300 The project involves building a new indoor theme park project with regards to the building standards provided by the Engineering Standards of USA  It is expected that this project would be executed with highly quality materials that would cost the company around $80,000  The 2 Indoor Theme 3 company would also get a 20  of the project cost  It's expected to start on June 6 th,2016 and end on February 3rd, 2017  Schedule 1 MSP Gantt chart schedule Score boarding answer project Conclusion Painting of the Interior Procuring Painting personnel Drafting painting costs Structural reviews Light Review arranging lights Pairing seats Dressing room Roof Test Steel installation Pouring concrete excavation Installation of Electricity Filling playing field Surface drainage Site Clearing Project Administration Work Human Resource management Procurement Management Scope Management Cost management Project Communication Plan Initial Planning 1 31 2016 Performance analysis  Duration (days) Start 5 10 2016 8 18 2016 11 26 2016 3 6 2017 Indoor Theme 4 Performance analysis is a special discipline involving chronological observations to enhance the performance of a particular project and to also improve the decision making policies (Martilla, 1977)  This project involves indoor theming  Various aspects have been put in place to ensure the best outcome  Its therefore good to test the performance of the whole proceedings based on the above data  The cost of the whole project (theming) has been estimated by the project managers to be $122,300  As a result, the performance is expected to match this considerable cost  For example, the painting of walls is estimated to be $27,910 00  low quality painting would be highly reject  Cost and schedule analysis are widely accepted in many firms as they are measures of the effort made and the success attained (J  Beach,2008) one method to measure the cost and schedule analysis is the earned value analysis (EVA)  In our case, the house is expected to be well prepared and applied the indicated theme before approval  Estimate at completion  If I were to talk about forecasting, I would conclude by saying that, it helps us know or predict the future  Similarly, in project management forecasting can be used to come up with the possible future performances of a particular project (Christensen, 1992, p 207 224)  However, this prediction is made based on the past performance or the criteria applied in this project as well as the objective data  This is what provides you with the visibility of whether the future of the project is bright or anything wrong might happen  Indoor Theme 5 In a nutshell, things in the real world do not always go as planned  Sometimes unavoidable or uncontrollable circumstances may lead to people getting results they never expected  Now we are going to assume that the project will continue to perform as it is performing now  And now the project is so far a success  ESTIMATE AT COMPLEATION BUDGET AT COMPLETION   COST PERFOMANCE INDEX This means that if our CPI is a success and is   1, then Estimate at completion   budget at completion  In this case our estimate at completion would be $122,300  Cost and schedule control plan  This project to get back to the track, needs some control plans  As said before, one cannot be hundred percent sure that the project would be surely a success  As much as the cost performance index is one, this fact cannot guarantee that the end of the project will be a great success, but just gives the project manager some positive hopes that things might go well  For this project to be surely a success then some amount of money need to be added  This would cover for cases of losses and make sure that the estimate at completion is reached  The goal is having a well themed house  In this case we are assuming the project is fifty percent complete  The remaining fifty percent would be allocated some money in each sector to enhance the possibility of meeting the target  Task Name Score boarding and project Conclusion Costs $18,120 00 Painting of walls and interior $30,910 00 Indoor Theme Procuring Painting personnel Drafting painting costs Structural reviews Light Review Arranging lights Pairing seats Dressing room Roof Test 6 $15,395 00 $14,545 00 $10,000 00 $22,500 00 $16,500 00 $10,000 00 $2,000 00 $4,000 00 Revised estimate at completion  On adding the above information, the CPI is bound to change and hence a new Estimate At Completion  Budget at Completion   $184,302 00 Actual Cost  $139, 582 00 Planned Value  50  of $184,302 00  92151 Earned Value  $100,000 CPI  100000 139582  0 72 Now, ESTIMATE AT COMPLEATION BUDGET AT COMPLETION   COST PERFOMANCE INDEX EAC  $184,302 00 0 72   $132038 51, hence $132038 51 exceed $9,2151 by $ 39887 51  This means that at the end of the project $39887 will exceed the targeted amount  This will result to  $224,189 00 Schedule 2 including revised MSP Gantt chart Indoor Theme 7 Duration (days) Start 1 31 2016 8 18 2016 3 6 2017 References  Martilla, J  A ,   James, J  C  (1977)  Importance performance analysis  The journal of marketing, 77 79  Christensen, D  S , Antolini, R  C ,   McKinney, J  W  (1992)  A review of estimate at completion research  In Cost estimating and analysis (pp  207 224)  Springer New York  Indoor Theme 1 INDOOR THEME NAME INSITUTION JUNE, 2016 Indoor Theme Executive summary  Brief summary  item detail Name of the project Indoor theme Duration of the project 192 days Estimated cost $122,300 The project involves building a new indoor theme park project with regards to the building standards provided by the Engineering Standards of USA  It is expected that this project would be executed with highly quality materials that would cost the company around $80,000  The 2 Indoor Theme 3 company would also get a 20  of the project cost  It's expected to start on June 6 th,2016 and end on February 3rd, 2017  Schedule 1 MSP Gantt chart schedule Score boarding answer project Conclusion Painting of the Interior Procuring Painting personnel Drafting painting costs Structural reviews Light Review arranging lights Pairing seats Dressing room Roof Test Steel installation Pouring concrete excavation Installation of Electricity Filling playing field Surface drainage Site Clearing Project Administration Work Human Resource management Procurement Management Scope Management Cost management Project Communication Plan Initial Planning 1 31 2016 Performance analysis  Duration (days) Start 5 10 2016 8 18 2016 11 26 2016 3 6 2017 Indoor Theme 4 Performance analysis is a special discipline involving chronological observations to enhance the performance of a particular project and to also improve the decision making policies (Martilla, 1977)  This project involves indoor theming  Various aspects have been put in place to ensure the best outcome  Its therefore good to test the performance of the whole proceedings based on the above data  The cost of the whole project (theming) has been estimated by the project managers to be $122,300  As a result, the performance is expected to match this considerable cost  For example, the painting of walls is estimated to be $27,910 00  low quality painting would be highly reject  Cost and schedule analysis are widely accepted in many firms as they are measures of the effort made and the success attained (J  Beach,2008) one method to measure the cost and schedule analysis is the earned value analysis (EVA)  In our case, the house is expected to be well prepared and applied the indicated theme before approval  Estimate at completion  If I were to talk about forecasting, I would conclude by saying that, it helps us know or predict the future  Similarly, in project management forecasting can be used to come up with the possible future performances of a particular project (Christensen, 1992, p 207 224)  However, this prediction is made based on the past performance or the criteria applied in this project as well as the objective data  This is what provides you with the visibility of whether the future of the project is bright or anything wrong might happen  Indoor Theme 5 In a nutshell, things in the real world do not always go as planned  Sometimes unavoidable or uncontrollable circumstances may lead to people getting results they never expected  Now we are going to assume that the project will continue to perform as it is performing now  And now the project is so far a success  ESTIMATE AT COMPLEATION BUDGET AT COMPLETION   COST PERFOMANCE INDEX This means that if our CPI is a success and is   1, then Estimate at completion   budget at completion  In this case our estimate at completion would be $122,300  Cost and schedule control plan  This project to get back to the track, needs some control plans  As said before, one cannot be hundred percent sure that the project would be surely a success  As much as the cost performance index is one, this fact cannot guarantee that the end of the project will be a great success, but just gives the project manager some positive hopes that things might go well  For this project to be surely a success then some amount of money need to be added  This would cover for cases of losses and make sure that the estimate at completion is reached  The goal is having a well themed house  In this case we are assuming the project is fifty percent complete  The remaining fifty percent would be allocated some money in each sector to enhance the possibility of meeting the target  Task Name Score boarding and project Conclusion Costs $18,120 00 Painting of walls and interior $30,910 00 Indoor Theme Procuring Painting personnel Drafting painting costs Structural reviews Light Review Arranging lights Pairing seats Dressing room Roof Test 6 $15,395 00 $14,545 00 $10,000 00 $22,500 00 $16,500 00 $10,000 00 $2,000 00 $4,000 00 Revised estimate at completion  On adding the above information, the CPI is bound to change and hence a new Estimate At Completion  Budget at Completion   $184,302 00 Actual Cost  $139, 582 00 Planned Value  50  of $184,302 00  92151 Earned Value  $100,000 CPI  100000 139582  0 72 Now, ESTIMATE AT COMPLEATION BUDGET AT COMPLETION   COST PERFOMANCE INDEX EAC  $184,302 00 0 72   $132038 51, hence $132038 51 exceed $9,2151 by $ 39887 51  This means that at the end of the project $39887 will exceed the targeted amount  This will result to  $224,189 00 Schedule 2 including revised MSP Gantt chart Indoor Theme 7 Duration (days) Start 1 31 2016 8 18 2016 3 6 2017 References  Martilla, J  A ,   James, J  C  (1977)  Importance performance analysis  The journal of marketing, 77 79  Christensen, D  S , Antolini, R  C ,   McKinney, J  W  (1992)  A review of estimate at completion research  In Cost estimating and analysis (pp  207 224)  Springer New York  Project Status Report on Theme Park Project Executive Summary This paper presents a methodological evaluation on importance and performance measurement  In project management, performance metrics are utilized to make an assessment of the health of a project  It consists of seven criteria which are  safety, time,cost, resources,scope, quality and actions  A Project Manager introduces project management to a project when changes in the viability of a project needs to be re assessed  Since time is money, this Theme Park project involves resources such as labor and rented capital that will cost more if the project is extended beyond completion date  A project is defind as   complex, nonroutine, one time effort limited by time, budget, resources, and performance specifications designed to meet specific needs'' (Gray   Larson,2008)  However, it is important not to lose sight of the initial goals and targets of the projects  When the changes accumulate, the forecasted result may not tally with the original proposed investment in the project  Hence, a successful project management identifies these components, and tracks and monitors progress so as to stay within time and budget frames already outlined at the commencement of the project  s The construction of a project baseline schedule involves the definition of start and finish times for each project activity, using earliest and latest start calculations with or without the presence of limited resources  There is a wide range of techniques available for such activity such as PEST and CPM  Although, it is generally accepted that in everything uncertainity exists and the project may not go according to plan  To know whether a project is behind or ahead of schedule or on time of completion  Project Manager has to conduct critical path analysis (CPM) which is based on the interdependence of the project activities  WBS 1 Task Name Theme Park Project Duration 175 days Start 4 14 2008 Finish 12 19 2008 Predecessors Project Status Report on Theme Park Project 1 1 1 2 1 3 1 4 1 5 1 6 1 7 1 8 1 9 1 10 1 11 1 12 1 13 1 14 1 15 1 16 1 17 1 17 1 1 17 2 1 17 3 1 18 1 18 1 1 18 2 1 18 3 1 18 4 1 19 1 19 1 1 19 2 1 19 3 1 19 4 1 19 5 1 20 1 21 1 21 1 1 21 1 1 1 21 1 2 1 21 1 3 1 21 1 4 1 21 1 5 1 21 1 6 1 21 1 7 1 21 1 8 1 21 1 9 1 21 1 10 1 21 2 Site Layout   Site Grading Footings   Foundations Masonry Frames, Columns and Beams Joists   Roof Deck Slab on Grade Rough Carpentry Interior Studs Interior Drywall Painting Elevator Doors Custom Theme Painting Flooring Finish Carpentry Bathroom Compartments Accessories Plumbing Hangers   Supports Pipes   Fittings Test HVAC Stacks   Vents Hangers   Supports Ductwork   Piping Test Electrical Boxes Conduit Wiring Devices Switches Receptacles Light Fixtures Test Mechanicals Complete Attraction Install and Training Ferris Wheel Ferris Wheel to ship Ferris Wheel Legs   fan install Ferris Wheel gondola install Ferris Wheel MEP install Ferris wheel platform design Ferris Wheel Platform Ferris Wheel Railing Ferris wheel turnstile Ferris wheel Training Ferris Wheel Certification Ropes course install   Training 10 days 55 days 60 days 40 days 30 days 35 days 35 days 20 days 30 days 35 days 30 days 5 days 15 days 15 days 15 days 3 days 4 14 2008 4 28 2008 5 19 2008 7 7 2008 9 1 2008 7 14 2008 9 1 2008 9 1 2008 10 13 2008 10 27 2008 9 1 2008 10 20 2008 11 3 2008 11 17 2008 11 17 2008 12 8 2008 4 25 2008 7 11 2008 8 8 2008 8 29 2008 10 10 2008 8 29 2008 10 17 2008 9 26 2008 11 21 2008 12 12 2008 10 10 2008 10 24 2008 11 21 2008 12 5 2008 12 5 2008 12 10 2008 85 days 40 days 40 days 5 days 95 days 30 days 30 days 30 days 5 days 95 days 25 days 25 days 20 days 7 28 2008 7 28 2008 9 22 2008 11 17 2008 7 28 2008 7 28 2008 9 8 2008 10 20 2008 12 1 2008 7 28 2008 7 28 2008 9 1 2008 10 6 2008 11 21 2008 9 19 2008 11 14 2008 11 21 2008 12 5 2008 9 5 2008 10 17 2008 11 28 2008 12 5 2008 12 5 2008 8 29 2008 10 3 2008 10 31 2008 20 days 5 days 1 day 146 days 137 days 3 days 6 days 6 days 6 days 2 days 6 days 6 days 3 days 1 day 1 day 30 days 11 3 2008 12 1 2008 12 8 2008 9 9 2008 9 29 2008 9 29 2008 10 2 2008 10 10 2008 10 20 2008 10 28 2008 10 30 2008 11 7 2008 11 17 2008 11 20 2008 11 21 2008 9 9 2008 11 28 2008 12 5 2008 12 8 2008 12 12 2008 11 21 2008 10 1 2008 10 9 2008 10 17 2008 10 27 2008 10 29 2008 11 6 2008 11 14 2008 11 19 2008 11 20 2008 11 21 2008 10 20 2008 2 3SS 15 days 4SS 35 days 5 3 7 7 9,6 10FS 20 days 7 8 11SS 5 days 10FS 5 days 10FS 5 days 16 3FS 10 days 19 20 3FS 10 days 23 24 25 3FS 10 days 28 29 30 31 21,26,32 36,7 37 38 39 40 41 42 43 44 7 Project Status Report on Theme Park Project 1 21 3 1 21 4 1 21 5 1 21 6 1 21 7 1 21 8 1 22 1 23 1 24 1 25 Climbing wall install   Training Carousel install   Training Bowling install   Training Go Cart install   Training Mini Golf install   Training Attraction install and training complete Furniture Installation System and Security Training Final Walkthrough 10 days 13 days 40 days 45 days 15 days 1 day 11 24 2008 11 6 2008 10 17 2008 10 6 2008 11 17 2008 12 12 2008 12 5 2008 11 24 2008 12 11 2008 12 5 2008 12 5 2008 12 12 2008 5 days 3 days 1 day 12 8 2008 12 15 2008 12 18 2008 12 12 2008 12 17 2008 12 18 2008 Grand Opening 1 day 12 19 2008 12 19 2008 7 7 7 7 7 45,46,47,48,49,50 ,51 52 12,14,15,16,17,52 ,53,54 55 Schedule 1 an MSP Grant Chart The Grant chart was created by Henry Gantt in 1910s  It is a structure that breaks a large project into smaller manageable sections that shows the project manager to see the specific activities of work completed  Project Status Report on Theme Park Project 30 Dec 30 Dec 30 Dec 30 Dec 30 Dec 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec 1 Jan Duration Task Duration Start Performance Analysis of Theme Park Project The Theme Park Project duration was175 days  Starting date 14 4 08 and at the future completion date 12 19 08  The data analysis shows that the project is not performing very well  The CPI is leass that one and the budget is overrun  The Gantt chart and Expected Value Project Status Report on Theme Park Project shows how healthy the project is by computing the CPI  From the scenario we can extract the following  BAC   $4,449,920 00 In this case, actual cost is the sum of fixed costs  Actual Cost   $3,911,000 00 Earned Value Analysis in project cost management Project Cost Management involves monitoring project performance based on indices pertaining to project cost and schedule  The cost performance index (CPI) by conducting Project Tracking with Earned Value Analysis (EVA) The Earned Value Analysis is part of the control cost  It quantifies the PV and EV  The EVA formula consists of cost performance index (CPI)  Represents the amount of work being completed on a project for every unit of cost spent  CPI is computed by Earned Value Actual Cost  A value of above 1 means that the project is doing well against the budget  A value below one indicates the actual cost exceeds budgeted cost  Theme Park Project budget scheduled is $4,449,920 00  It is planned that the project spends 50  of the approved budget  However, after the start of the project  The completion work is incomplete which means the project is not doing well  EV   Earned value AC  Actual Cost CPI EV AC BAC  Budget at Completion Actual completion   50  EV   Actual Completion ( )   BAC 50    $4,449,920   $2,224,960 EV   $2,224,960 Project Status Report on Theme Park Project Earned value variance  Cost Performance Index (CPI)   EV AC $4,449,920 3,911,000  1 13 The EV assigns a value to the work completed at any point in time  However, the Cost Performance Index is 1 which indicate the Theme Park Project is a success and the actual costs for the work performed to date is below the budgeted costs  Clearly, in this scenario the situation is not worsening  The cost performance project is greater than one   This means the budget is successful but it is not a guarantee the end product of the project would be a great success  It only gives the project manageer a positive insight into the true progress of the project  In addition, the CPI   1 means for every $1 spent, the project is producing only $1 13 cents in work  Performance analysis Note the project completion was scheduled to 10 1 08  It is planned that the spend 40  of the approved budget  The performance analysis is calculated utilizing earned value data to analyze the project cost and schedule performance  The project value is estimated at $4,449,920 00 and the performance is expected to match the cost  Estimate at completion including a forward looking estimate of the project completion date and the final project costs Cost and Schedule providing a corrective action plan to bring the project back in line with your project baseline Revised estimate at completion including the corrective actions from the control plan along with the resulting cost and schedule impact  Schedule 2 including revised MSP Gantt chart schedule (required) that reflects the impact of your corrective actions

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CP3 Start Data Directions For CP3 you will set your CP2 project and document deliverable aside and start fresh. Your task is to use this

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