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Question 2 - Earned Value Analysis Please note there are very few, possibly only one, area in our course where your professor and our textbook authors are in dis-agreement. That difference of opinion relates to determining earned value for a task if you have to report on it part of the way through its planned execution time frame. As opposed to our text book authors, your instructor wants you to limit the amount of planned value you apply in the calculation of earned value on any individual task in a period to the amount that was to be completed up to the date upon which the calculation is being made. The authors recommend using the full planned value which artificially lowers your amount of earned value for a partially completed task in the period upon which it is being reported. In the following question, complete the earned value calculations in the manner recommended by your instructor. The following labor hours data has been collected for a nanotechnology project for periods 1 through 6. Compute the SV, CV, SPI, and CPI for each period up to period 6. Plot the EV and the AC in Excel showing Labor hours on the y axis and Time Periods on the x axis. Plot the SPI, CPI, and PCIB in Excel showing each index value on the same primary y axis and the Time Periods on the x-axis. Is the project on time at the end of period 6? Is the project on budget at the end of period 6? What is the calculated length of the project? Which activities are on the critical path? Which activity is most sensitive? 2 5 2 4 1 3 7 2 6 2 4 6 4 ES ID EF LS DUR LF Schedule Information Baseline Budget Needs - Labor Hours (00) Planned Value up to the end of the Time period below Activity / Work Package Duration Earliest Start Latest Finish 3 4 5 6 7 7 8 9 10 11 12 13 14 2 10 2 1 2 3 8 5 10 16 5 10 3 5 2 2 6 5 4 4 2 4 0 2. 2 2 4 7 11 Slack Total Planned Value 1 0 20 10 3 24 3 30 0 25 3 16 0 20 0 10 Total PV by period 10 Cummulative PV by period 10 10 7 11 7 11 11 13 2 2 4 2 1 4 5 4 4 5 5 6 4 6 7 5 5 23 7 14 5 4 10 20 31 51 16 90 9 99 6 131 5 140 5 145 74 106 120 125 135 Status Report: Ending Period 1 Task EV CV SV % Complete 50 AC 500 1 PV 1000 1000 Cumulative totals 500 Status Report: Ending Period 2 Task EV CV SV % Complete 90 AC 1500 1500 PV 2000 1 Cumulative totals 2000 Status Report: Ending Period 3 EV AC PV CV SV Task 1 % Complete 100 2000 1500 2000 2 90 0 5 200 3 4 Cumulative totals 30 500 2200 Status Report: Ending Period 4 Task PV CV SV % Complete 100 100 EV 2000 1 2000 AC 1500 1000 800 2 3 20 4 60 1500 Cumulative totals 4800 Status Report: Ending Period 5 Task CV SV EV 2000 PV 2000 1 % Complete 100 100 30 65 25 AC 1500 2000 800 2 3 4 1500 5 Cumulative totals 400 6200 Status Report: Ending Period 6 Task PV CV SV % Complete 100 EV 2000 1 2000 2 100 AC 1500 2000 2100 1800 600 3 80 85 4 50 5 Cumulative totals 8000 SPI PCIB Period 1 2 3 4 5 6 PCIB = EV/BAC for each period. (Percent Complete Index). For more details, see Larson. HINT FOR QUESTION 2: Let me give you a little clue for some unexpected data in this problem. In period 3, task 2 is showing that 90% of the value has been earned, despite the fact that $0 in actual costs have been accumulated...Why? Well that could be a case where the WBS was not accurate and when you got to site the task was almost already totally complete. Or it could mean that one of the other trades in the project did some of your scope of work (Hey that is great! Yes, that sometimes happens). Or maybe it is even an example of an invoice simply not having shown up yet and our accounting practices not allowing us to declare costs as having been applied yet. The bottom line is we are unsure as project managers without investigating. But rest assured the executives may ask, so you better know how to speak to unexpected data when it presents itself... Question 2 - Earned Value Analysis Please note there are very few, possibly only one, area in our course where your professor and our textbook authors are in dis-agreement. That difference of opinion relates to determining earned value for a task if you have to report on it part of the way through its planned execution time frame. As opposed to our text book authors, your instructor wants you to limit the amount of planned value you apply in the calculation of earned value on any individual task in a period to the amount that was to be completed up to the date upon which the calculation is being made. The authors recommend using the full planned value which artificially lowers your amount of earned value for a partially completed task in the period upon which it is being reported. In the following question, complete the earned value calculations in the manner recommended by your instructor. The following labor hours data has been collected for a nanotechnology project for periods 1 through 6. Compute the SV, CV, SPI, and CPI for each period up to period 6. Plot the EV and the AC in Excel showing Labor hours on the y axis and Time Periods on the x axis. Plot the SPI, CPI, and PCIB in Excel showing each index value on the same primary y axis and the Time Periods on the x-axis. Is the project on time at the end of period 6? Is the project on budget at the end of period 6? What is the calculated length of the project? Which activities are on the critical path? Which activity is most sensitive? 2 5 2 4 1 3 7 2 6 2 4 6 4 ES ID EF LS DUR LF Schedule Information Baseline Budget Needs - Labor Hours (00) Planned Value up to the end of the Time period below Activity / Work Package Duration Earliest Start Latest Finish 3 4 5 6 7 7 8 9 10 11 12 13 14 2 10 2 1 2 3 8 5 10 16 5 10 3 5 2 2 6 5 4 4 2 4 0 2. 2 2 4 7 11 Slack Total Planned Value 1 0 20 10 3 24 3 30 0 25 3 16 0 20 0 10 Total PV by period 10 Cummulative PV by period 10 10 7 11 7 11 11 13 2 2 4 2 1 4 5 4 4 5 5 6 4 6 7 5 5 23 7 14 5 4 10 20 31 51 16 90 9 99 6 131 5 140 5 145 74 106 120 125 135 Status Report: Ending Period 1 Task EV CV SV % Complete 50 AC 500 1 PV 1000 1000 Cumulative totals 500 Status Report: Ending Period 2 Task EV CV SV % Complete 90 AC 1500 1500 PV 2000 1 Cumulative totals 2000 Status Report: Ending Period 3 EV AC PV CV SV Task 1 % Complete 100 2000 1500 2000 2 90 0 5 200 3 4 Cumulative totals 30 500 2200 Status Report: Ending Period 4 Task PV CV SV % Complete 100 100 EV 2000 1 2000 AC 1500 1000 800 2 3 20 4 60 1500 Cumulative totals 4800 Status Report: Ending Period 5 Task CV SV EV 2000 PV 2000 1 % Complete 100 100 30 65 25 AC 1500 2000 800 2 3 4 1500 5 Cumulative totals 400 6200 Status Report: Ending Period 6 Task PV CV SV % Complete 100 EV 2000 1 2000 2 100 AC 1500 2000 2100 1800 600 3 80 85 4 50 5 Cumulative totals 8000 SPI PCIB Period 1 2 3 4 5 6 PCIB = EV/BAC for each period. (Percent Complete Index). For more details, see Larson. HINT FOR QUESTION 2: Let me give you a little clue for some unexpected data in this problem. In period 3, task 2 is showing that 90% of the value has been earned, despite the fact that $0 in actual costs have been accumulated...Why? Well that could be a case where the WBS was not accurate and when you got to site the task was almost already totally complete. Or it could mean that one of the other trades in the project did some of your scope of work (Hey that is great! Yes, that sometimes happens). Or maybe it is even an example of an invoice simply not having shown up yet and our accounting practices not allowing us to declare costs as having been applied yet. The bottom line is we are unsure as project managers without investigating. But rest assured the executives may ask, so you better know how to speak to unexpected data when it presents itself