Name: PMAN 635 9041 Final Exam Please do any ten of the following questions. If you do all twelve, I will credit you for the best ten. Each question you do will be worth ten percent of your final exam grade. Where a question has multiple parts, each part is equal. Please include your specific answer in this document and submit it through your assignments folder. Include your name in the space above and as a part of the file name for all files you submit. Files (XLS, PDF, MPP, etc) showing your work should also be submitted through your assignments folder and include your name both within the file and as a part of the file name. 1. You are estimating costs for installing undersea cable in the Persian Gulf (aka the Arabian Gulf). You have the following information concerning installation costs: The material cost per kilometer for cable is $100,000. You are installing 100 kilometers of cable. The cost per kilometer for installation depends on the sea conditions (sea state). Sea State Cost/kilometer I $25,000 II $75,000 a. What would be the estimated cost of the project if you knew with certainty that, during the time you were installing the cable, you would encounter sea state I 25% of the time and sea state II 75% of the time? b. Run a Crystal Ball calculation of the total estimated cost of the project, assuming the probability of sea state 1 is normally distributed with a mean of 25% and a standard deviation of 5%. Only sea states I and II are possible. Post your result, including your cost forecast. c. What is your mean expected cost? d. What estimated cost provides you 95% assurance that your actual cost will be less than that amount? 2. Solve problem 23 at the end of chapter 6 of Mantel (be sure to read the entire problem). Note that your choice is only between activities d and c. Problem 23 page (238) "23. Given the project shown in Figure 5-10 of Chapter 5, assume that a facility used by activities c and d is scarce. Figure 5-10 To which activity would you assign the facility first, given the following rules: a. Minimum slack: b. Most followers: c. Most critical followers: d. Shortest task first: e. As late as possible: 3. A project is in its 50th week and has an actual cost of $300,000 for the work performed to date. The budgeted cost of that work is $400,000. It expected to have completed $500,000 worth of work by this time. The budget for the entire project is $1,000,000. What is the: a. b. c. d. CV SV CPI EAC (provide two possible values. Show the formulas you use in calculating each) 4. You have prepared an initial estimate of $2,000,000 to develop a software application for your organization. However, after you think about it a while, you vaguely remember from an old course you took at UMUC that estimates aren't the same as reality. So, you do a bit more analysis and come up with the following table. How much reserve should you add to your initial estimate in order to have a 90% chance of success? Activity Labor Commercial SW and Licenses Most Likely $1,000,000 $500,000 Optimistic $800,000 $450,000 Pessimistic $1,500,000 $550,000 Subcontracts $500,000 $450,000 $600,000 The estimates include all applicable burdens. All activities have assumed a triangular distribution. You may use any method you require, but show your work in an attachment. 5. You are preparing a project to lay fiber optic cable. The first task is to mobilize the team. You estimate this will take one week and cost $3000. The second task is to lay the cable. This will take three weeks and will cost $45,000. The total length of the cable is 15 miles. The last task, which will take one week, is to terminate and test the cable. You budget $5000 for this. At the end of the first week, you have completed mobilization, but it cost a total of $4500. At the end of the third week, you have completed five miles of cable at a total cost of $28,000 (installation only). It takes you a total of 10 weeks to complete the entire project, for a total cost of $65,000. a. At the end of week 1: i. What is your SPI? ii. What is your CPI? iii. What is your EAC? b. At the end of week 3: i. What is your SPI? ii. What is your CPI? iii. What is your EAC? c. At the end of the project: i. What is your SPI? ii. What is your CPI? iii. What is your EAC? 6. Identify which of the following statements is true and which is false: a. The primary purpose of project evaluation is to give feedback to senior management for decision and control purposes. b. The original criteria for selecting and funding a project are largely irrelevant for project evaluation. c. The timing of an audit depends on the purpose of the audit. d. It is best for the project manager and the project team to make the termination decision. 7. Your project is to provide facilities for the 2016 Olympics. You are on a cost reimbursable contract. Your project is considered (pick one): a. b. c. d. Time constrained Schedule constrained Budget constrained Performance constrained 8. A task has a normal duration of 9 days and a crash duration (the minimum duration) of 7 days. Its normal cost (total for 9 days) is $6000 and its crash cost is $10,000 (total for 7 days). What is the crash cost per day? a. $14000 b. c. d. e. $7000 $5000 $2000 $1000 9. Identify which of the following statements is true and which is false: a. The shortest time to complete a network is equal to the duration of the longest path through the network. b. The actual project duration will be known with certainty when the project is completed. c. The difference between EST and LFT is called slack. d. The start to finish linkage is normally used in situations where it is desirable for two or more activities to finish at the same time. 10. A task is expected to take 20 hours of labor at $25 per hour (direct cost). The required material cost is $500. The organization adds a fee of 30% to all direct labor costs to account for overhead. It does not add any fee on top of material costs. The total task cost is: a. b. c. d. e. $500 $1,150 $1,250 $1,300 $1,500 11. Using MSP, develop the project plan described in the attached file \"FINAL QUESTION 11\". Calculate and enter TE for task durations when developing your plan. a. Submit your resulting MSP file. b. What is the expected duration? c. What is the expected cost? 12. Throughout the course, Professor Hall presented a number of Web Seminars on project management. Based on these seminars, I have concluded: a. b. c. d. Professor Hall should be on TV. Professor Hall should be on TV and in the movies. When I grow up, I would like to be just like Professor Hall. All of the above. PROJECT FINAL Phase A A B B B C C D D RESOURCE PM ADMIN ENGR TECH PROC EQUIP CONTR Task A-1 A-2 B-1 B-2 B-3 C-1 C-2 D-1 D-2 $ $ $ $ $ $ $ Predecessor A-1 A-2 B-1 B-2 B-3 C-1 C-2 D-1 COST 100.00 PER HOUR 50.00 PER HOUR 80.00 PER HOUR 60.00 PER HOUR 70.00 PER HOUR 100,000.00 PER USE 3,000.00 PER DAY NOTE: NO OVERTIME AUTHORIZED DURATION ESTIMATES (WEEKS) Optimistic Most Likely Pessimistic 3 4 5 4 5 7 2 3 5 1 2 3 4 5 7 3 5 9 1 1 1 1 2 3 0.5 0.5 1 TYPE WORK WORK WORK WORK WORK MATERIAL WORK TE PM 100% 50% 50% 50% 50% 50% 50% 50% 100% ADMIN 25% RESOURCE ASSIGNMENTS ENGR TECH PROC 100% 25% 25% 25% 100% 100% 25% 25% 100% 100% 100% 100% 100% EQUIP CONTR 1 LOT 100% Session 11 Individual Assignment -11 Problem 1. A project in its 26th week and was scheduled to have completed work with a budgeted cost of $30 $325,000. For the work performed to date, the budgeted value is $350,000. The project has a total budget variances for the project? What are the SPI and CPI? Assuming that both schedule and cost variances wil PV= 300,000 AC= 325,000 EV= 350,000 BAC= 500,000 Actual Cost = $325,000 Budget cost of work performed = $500,000 Budget cost of work scheduled = $300,000 Schedule variance (SV) = BCWP - BCWS $350,000 The value of SV is negative meaning that the project is behind the schedule Cost variance (CV) = BCWP - ACWP $350,000 CV is positive meaning that you are under budget Schedule performance index (SPI) =BCWP / BCWS $350,000 SPI is greater than 1 meaning that the project is ahead the schedule Cost performance index CPI) = BCWP / ACWP $350,000 EAC $464,286 = AC +(500-350) / 1,076923 Problem 2. A project has just completed its 87th item in the project plan. It was scheduled to have spent $30 spent only $200,000. The project manager estimates that the value of the work actually finished is nearly $2 variances for the project? What are the SPI and CPI? What is the Crit Actual Cost = $200,000 Budget cost of work performed = $250,000 Budget cost of work scheduled = $300,000 Schedule variance (SV) = BCWP - BCWS $250,000 The value of SV is negative meaning that the project is behind the schedule Cost variance (CV) = BCWP - ACWP $250,000 CV is positive meaning that you are under budget Schedule performance index (SPI) =BCWP / BCWS $250,000 SPI is less than 1 meaning that the project is behind the schedule Cost performance index CPI) = BCWP / ACWP $250,000 CPI is more than 1 meaning earnings are more than the spending. This shows you are under budget. The progress is Critical ratio= CPI x SPI 1.25 Problem 3. The following project is at the end of its 6th week. Find the cost and schedule variances. Also find the CP using earned value calculations. Finally, calculate the EAC for the project by at least tw Activity Predecessor a b c d e Totals a a b, c Budget at Duration Actual Completion (wks) Cost ($) ($) 2 600 400 3 150 180 2 250 300 5 500 400 4 400 200 16 1900 Actual cost of work performed = 1480 Budgeted cost of work performed = 1280 1480 %Complete Earned Value 100 100 100 40 20 600 150 250 200 80 360 At 6th week, activity d will have gone for 4 weeks of 5 weeks and activity e 2 weeks of 4 weeks. 4 /5 100 = 80% 2/4 100 = 50% Budgeted cost of work scheduled = 1600 Schedule variance (SV) = BCWP - BCWS -320 1280 The project is behind the schedule Cost variance (CV) = BCWP - ACW -200 CV is negative meaning you are over budget. Schedule Performance Index (SPI) = BCWP/BCWS 0.8 Project is behind the schedule Cost Performance Index (CPI) = BCWP/ACWP 0.8648648649 The spent amount is more than the planned amount meaning that less progress than it is supposed to be. Critical ratio (CR) = (BCWP/BCWS) (BCWP/ACWP) Budget at completion (BAC) = 0.6918918919 1900 Project cost Estimated to completion (ETC) = (BAC - BCWP)/CPI Projected cost estimated at completion (EAC) = ETC + ACWP 420 1900 Problem 4. Solve the following Case: Stoneworth Paving Company specializes in highway paving jobs for state of Virginia. When the State first awarded stipulated a 1% penalty for each week Stoneworth was late on a completion date. Preston Flintrock, the project coord notice that the last two jobs were three weeks late, and the paving job that was due to be completed in the next two When Preston went in the field to investigate, he found the job to be understaffed, supplier delays, and a high work r result, Preston decided to establish a better system of project control and present it to the b a. b. If you were Preston, what characteristics would you look for in a new control system? Explain Will a new control system be adequate for the problem? Explain a A. Preston needs a control system such as tracking the progress that will help identify and report on supplier lim and quality. If the project is to be speeded up to catch up with the schedule, a control system that leans towa projects is required. Additionally, it is critical to keep monitoring necessary measur Implementing monitor and control leads to successful completion of a project. This helps project managers mak keeping track of each phase of the project. b Although new control system is necessary, it will not solve the entire problem because other factors such as we system will only minimize the chances of the project being late. with a budgeted cost of $300,000. The work it has completed actually cost e project has a total budget of $500,000. What are the cost and schedule dule and cost variances will affect the remaining work, what is the EAC? - $300,000 = $50,000 - $325,000 = $25,000 / $300,000 = 1.1666666667 / $325,000 = 1.0769230769 scheduled to have spent $300,000 at this point in the plan, but has actually actually finished is nearly $250,000. What are the spending and schedule and CPI? What is the Critical Ratio? - $300,000 = ($50,000) - $200,000 = $50,000 / $300,000 = 0.8333333333 / $200,000 = 1.25 e under budget. The progress is more than anticipated. * 0.8333333333 = 1.0416666667 le variances. Also find the CPI and SPI. Then find the critical ratio of the project C for the project by at least two different methods. When the State first awarded Stoneworth the contract, they on Flintrock, the project coordinator for Stoneworth, began to be completed in the next two weeks was behind schedule. plier delays, and a high work rejection/repaving needed. As a control and present it to the boss. ol system? Explain ntify and report on supplier limitations and dates, employment, control system that leans towards high-pressure, time-critical p monitoring necessary measures. his helps project managers make better decisions since they are the project. cause other factors such as weather can affect the project. The f the project being late. 1. You are estimating costs for installing undersea cable in the Persian Gulf (aka the Arabian Gulf). You have th a. What would be the estimated cost of the project if you knew with certainty that, during th Installation Cost The material cost per kilometer for cable is $100,000. Sea State Cost/kilometer I II P Cost(P*COST/KM) $25,000 The cost per kilometer 0.25 for installation $6,250 depends on the sea conditions (sea state). $75,000 0.75 $56,250 Sum $62,500 Material Cost/kilometre Total cost per Kilometre Total Cost(100KMs) b. I II $25,000 $75,000 100,000 $162,500 $16,250,000 Run a Crystal Ball calculation of the total estimated cost of the project, assuming the proba Sea State Cost/kilometer b $ P1 P2 0.25 0.75 Sum(installation costs) Total Costs P3 0.2 0.8 Cost1 0.3 0.7 $6,250 $56,250 $62,500 $162,500 Cost2 $5,000 $60,000 $65,000 $165,000 What is your mean expected cost? c Mean Expected Cost d. d $162,500 What estimated cost provides you 95% assurance that your actual cost will be less than tha $165,000 2. Solve problem 23 at the end of chapter 6 of Mantel (be sure to read the entire problem). Note that your ch 2 a. Minimum slack: b. Most followers: c. Most critical followers: d.Shortest task first e. As late as possible: Activity d d c c c 3. A project is in its 50th week and has an actual cost of $300,000 for the work performed to date. The budge Actual cost 3 $ 300,000 Budgeted Cost $ 400,000 Expected Complete$ 500,000 Total budget $ 1,000,000 1. What is the: a) CV b)SV c) CPI d) E Formulae a. CV CPI=EV/PV b. SV SPI=EV/AC c. CPI EAC=BAC/CPI d. EAC (provide two possible values. Show the formulas you use in calculating ea d. EAC$(provide100,000 two possible values. Show the formulas you use in calculating each) Favourable $ 200,000 Under budget 1.33 800,000 600,000 1 $ 2 $ 4.You have prepared an initial estimate of $2,000,000 to develop a software application for your organization. Answer Activity Labor 4 Most Likely Optimistic Pessimistic $1,000,000 $800,000 $1,500,000 Commercial SW and Licenses $500,000 $450,000 $550,000 Subcontracts $500,000 $450,000 $600,000 $2,000,000 $2,116,667 $1,700,000 $2,650,000 Totals Average reserve 94% $1,905,000.0 (90%*2000000) $95,000.0 5. You are preparing a project to lay fiber optic cable. The first task is to mobilize the team. You estimate th Answer 5 Task Period Team mobilizati Lay cable Testing cables BAC Cost(budgeted)Miles 1 $ 3,000 3 $ 45,000 1 $ 5,000 $ 53,000 weeks to complet total cost $ VAC $ Formulae CPI=EV/PV SPI=EV/AC EAC=BAC/CPI Whereby EV=earned value PV=planned value AC=Actual cost a. period 15 1 3 10 65,000 12,000 BAC=budget at completion EAC=estimate at completion CPI=Cost price index At the end of week 1: SPI=Schedule performanc i. ii. iii. What is your0.6666666667 SPI? What is your0.6666666667 CPI? What is your $EAC? 4,500 b. At the end of week 3: c. i. ii. iii. At the end of the project: i. ii. iii.What is your EAC What is yourbudget SPI? 1.833333333 What is your CPI? 1.015384615 is your EAC? $ What 18,000 $ 33,000 What is your 1 SPI? What is your 0.815384615 CPI? $ 38,000 budget 6. Identify which of the following statements is true and which is false: a. The primary purpose of project evaluation is to give feedback to senior b. The original criteria for selecting and funding a project are largely irrele c. The timing of an audit depends on the purpose of the audit. d. It is best for the project manager and the project team to make the ter 6 7. Your project is to provide facilities for the 2016 Olympics. You are on a cost reimbursable contract. Y c. 8 Budget constrained 4000 Incremental cost 2 days reduced Crash cost per $ 2,000 D Formula (10000-60000) (9-7) a. The shortest time to complete a network is equal to the duration of th b. The actual project duration will be known with certainty when the proj c. The difference between EST and LFT is called slack. d. The start to finish linkage is normally used in situations where it is desi 9 10. A task is expected to take 20 hours of labor at $25 per hour (direct cost). The required material cost is $5 10 Labo$ material cost $ Overhead cpst $ TOTAL $ 11 500 500 150 1,150 b Total cost=labor cost+material cost + Ov Using MSP, develop the project plan described in the attached file \"FINAL QUESTION 11\". a. Submit your resulting MSP file. b. What is the expected duration? c. What is the expected cost? Phase Task Predecessor DURATION ESTIMATES (WEEKS) Optimistic(a) Most Likely(m) Pessimistic(b) TE PM A A B B B C C D D A-1 A-2 B-1 B-2 B-3 C-1 C-2 D-1 D-2 RESOURCE PM $ ADMIN $ ENGR $ TECH $ PROC $ EQUIP CONTR A-1 A-2 B-1 B-2 B-3 C-1 C-2 D-1 COST 100.00 PER HOUR 50.00 PER HOUR 80.00 PER HOUR 60.00 PER HOUR 70.00 PER HOUR ### PER USE ### PER DAY 3 4 2 1 4 3 1 1 0.5 TYPE WORK WORK WORK WORK WORK MATERIAL WORK 4 5 3 2 5 5 1 2 0.5 5 7 5 3 7 9 1 3 1 Weeks 4 5.1666666667 3.1666666667 2 5.1666666667 5.3333333333 1 2 0.5833333333 100% 50% 50% 50% 50% 50% 50% 50% 100% hours Cost 16.5 2772 $ 277,200 1.1458333333 192.5 $ 9,625 14.583333333 2450 $ 196,000 6.3333333333 1064 $ 63,840 10.333333333 1736 $ 121,520 0 $ 100,000 5.3333333333 896 $ 2,688,000 Total cost $ 3,456,185 12. Throughout the course, Professor Hall presented a number of Web Seminars on project management. Based on D a. Professor Hall should be on TV. b. Professor Hall should be on TV and in the movies. c. When I grow up, I would like to be just like Professor Hall. All of theA above Answer d. All of the above. Arabian Gulf). You have the following information concerning installation costs: th certainty that, during the time you were installing the cable, you would encounter sea state I 25% of the time and sea state II 75% of t roject, assuming the probability of sea state 1 is normally distributed with a mean of 25% and a standard deviation of 5%. Only sea state Cost3 $7,500 $52,500 $60,000 $160,000 al cost will be less than that amount? blem). Note that your choice is only between activities d and c. med to date. The budgeted cost of that work is $400,000. It expected to have completed $500,000 worth of work by this t Whereby EV=earned value PV=planned value AC=Actual cost as you use in calculating each) BAC=budget at completion EAC=estimate at completion CPI=Cost price index SPI=Schedule performance index SV=EV-PV CV=EV-AC for your organization. However, after you think about it a while, you vaguely remember from an old course you took at e team. You estimate this will take one week and cost $3000. The second task is to lay the cable. This will take three wee Performance Actual Cost Miles $ 4,500 $ 28,000 SPI=Schedule performance index variance $ 1,500 Adverse 5 budget/mil $ 3,000 total budg $ 15,000 Actual $ per Mile budget $ 18,000 $ 32,500 53,000 VAC $ 15,000 1.226415 s to give feedback to senior management for decision and control purposes. g a project are largely irrelevant for project evaluation. ose of the audit. oject team to make the termination decision. Response 1 0 1 0 reimbursable contract. Your project is considered (pick one): Response equal to the duration of the longest path through the network. 1 ith certainty when the project is completed. 1 0 n situations where it is desirable for two or more activities to finish at the same time. 0 uired material cost is $500. The organization adds a fee of 30% to all direct labor costs to account for overhead. It does or cost+material cost + Overhead cost INAL QUESTION 11\". Calculate and enter TE for task durations when developing your plan. ADMIN RESOURCE ASSIGNMENTS ENGR TECH PROC EQUIP CONTR PM Weeks ENG weeks 25% 100% 25% 25% 25% 100% 100% 25% 100% 100% 100% 1 LOT 100% 100% 25% formula te=(a+4m+b)/6 t management. Based on these seminars, I have concluded: 100% 4 2.583333 1.583333 1 2.583333 2.666667 0.5 1 0.583333 0 5.166667 0.791667 0.5 1.291667 5.333333 1 0.5 0 e and sea state II 75% of the time? tion of 5%. Only sea states I and II are possible. Post your result, including your cost forecast. worth of work by this time. The budget for the entire project is $1,000,000. What is the: old course you took at UMUC that estimates aren't the same as reality. So, you do a bit more analysis and come up with This will take three weeks and will cost $45,000. The total length of the cable is 15 miles. The last task, which will take on t for overhead. It does not add any fee on top of material costs. The total task cost is: nalysis and come up with the following table. How much reserve should you add to your initial estimate in order to have st task, which will take one week, is to terminate and test the cable. You budget $5000 for this. At the end of the first we estimate in order to have a 90% chance of success? At the end of the first week, you have completed mobilization, but it cost a total of $4500. At the end of the third week, y he end of the third week, you have completed five miles of cable at a total cost of $28,000 (installation only). It takes you lation only). It takes you a total of 10 weeks to complete the entire project, for a total cost of $65,000. 1. You are estimating costs for installing undersea cable in the Persian Gulf (aka the Arabian Gulf). You have th a. What would be the estimated cost of the project if you knew with certainty that, during th Installation Cost The material cost per kilometer for cable is $100,000. Sea State Cost/kilometer I II P Cost(P*COST/KM) $25,000 The cost per kilometer 0.25 for installation $6,250 depends on the sea conditions (sea state). $75,000 0.75 $56,250 Sum $62,500 Material Cost/kilometre Total cost per Kilometre Total Cost(100KMs) b. I II $25,000 $75,000 100,000 $162,500 $16,250,000 Run a Crystal Ball calculation of the total estimated cost of the project, assuming the proba Sea State Cost/kilometer b $ P1 P2 0.25 0.75 Sum(installation costs) Total Costs P3 0.2 0.8 Cost1 0.3 0.7 $6,250 $56,250 $62,500 $162,500 Cost2 $5,000 $60,000 $65,000 $165,000 What is your mean expected cost? c Mean Expected Cost d. d $162,500 What estimated cost provides you 95% assurance that your actual cost will be less than tha $165,000 2. Solve problem 23 at the end of chapter 6 of Mantel (be sure to read the entire problem). Note that your ch 2 a. Minimum slack: b. Most followers: c. Most critical followers: d.Shortest task first e. As late as possible: Activity d d c c c 3. A project is in its 50th week and has an actual cost of $300,000 for the work performed to date. The budge Actual cost 3 $ 300,000 Budgeted Cost $ 400,000 Expected Complete$ 500,000 Total budget $ 1,000,000 1. What is the: a) CV b)SV c) CPI d) E Formulae a. CV CPI=EV/PV b. SV SPI=EV/AC c. CPI EAC=BAC/CPI d. EAC (provide two possible values. Show the formulas you use in calculating ea d. EAC$(provide100,000 two possible values. Show the formulas you use in calculating each) Favourable $ 200,000 Under budget 1.33 800,000 600,000 1 $ 2 $ 4.You have prepared an initial estimate of $2,000,000 to develop a software application for your organization. Answer Activity Labor 4 Most Likely Optimistic Pessimistic $1,000,000 $800,000 $1,500,000 Commercial SW and Licenses $500,000 $450,000 $550,000 Subcontracts $500,000 $450,000 $600,000 $2,000,000 $2,116,667 $1,700,000 $2,650,000 Totals Average reserve 94% $1,905,000.0 (90%*2000000) $95,000.0 5. You are preparing a project to lay fiber optic cable. The first task is to mobilize the team. You estimate th Answer 5 Task Period Team mobilizati Lay cable Testing cables BAC Cost(budgeted)Miles 1 $ 3,000 3 $ 45,000 1 $ 5,000 $ 53,000 weeks to complet total cost $ VAC $ Formulae CPI=EV/PV SPI=EV/AC EAC=BAC/CPI Whereby EV=earned value PV=planned value AC=Actual cost a. period 15 1 3 10 65,000 12,000 BAC=budget at completion EAC=estimate at completion CPI=Cost price index At the end of week 1: SPI=Schedule performanc i. ii. iii. What is your0.6666666667 SPI? What is your0.6666666667 CPI? What is your $EAC? 4,500 b. At the end of week 3: c. i. ii. iii. At the end of the project: i. ii. iii.What is your EAC What is yourbudget SPI? 1.833333333 What is your CPI? 1.015384615 is your EAC? $ What 18,000 $ 33,000 What is your 1 SPI? What is your 0.815384615 CPI? $ 38,000 budget 6. Identify which of the following statements is true and which is false: a. The primary purpose of project evaluation is to give feedback to senior b. The original criteria for selecting and funding a project are largely irrele c. The timing of an audit depends on the purpose of the audit. d. It is best for the project manager and the project team to make the ter 6 7. Your project is to provide facilities for the 2016 Olympics. You are on a cost reimbursable contract. Y c. 8 Budget constrained 4000 Incremental cost 2 days reduced Crash cost per day $ 2,000 D Formula (10000-60000) (9-7) Crash cost per day=crash a. The shortest time to complete a network is equal to the duration of th b. The actual project duration will be known with certainty when the proj c. The difference between EST and LFT is called slack. d. The start to finish linkage is normally used in situations where it is desi 9 10. A task is expected to take 20 hours of labor at $25 per hour (direct cost). The required material cost is $5 10 Labo$ material cost $ Overhead cpst $ TOTAL $ 11 500 500 150 1,150 b Total cost=labor cost+material cost + Ov Using MSP, develop the project plan described in the attached file \"FINAL QUESTION 11\". a. Submit your resulting MSP file. b. What is the expected duration? c. What is the expected cost? Phase Task Predecessor DURATION ESTIMATES (WEEKS) Optimistic(a) Most Likely(m) Pessimistic(b) TE PM A A B B B C C D D A-1 A-2 B-1 B-2 B-3 C-1 C-2 D-1 D-2 RESOURCE PM $ ADMIN $ ENGR $ TECH $ PROC $ EQUIP CONTR A-1 A-2 B-1 B-2 B-3 C-1 C-2 D-1 COST 100.00 PER HOUR 50.00 PER HOUR 80.00 PER HOUR 60.00 PER HOUR 70.00 PER HOUR ### PER USE ### PER DAY 3 4 2 1 4 3 1 1 0.5 TYPE WORK WORK WORK WORK WORK MATERIAL WORK 4 5 3 2 5 5 1 2 0.5 5 7 5 3 7 9 1 3 1 Weeks 4 5.1666666667 3.1666666667 2 5.1666666667 5.3333333333 1 2 0.5833333333 100% 50% 50% 50% 50% 50% 50% 50% 100% hours Cost 16.5 2772 $ 277,200 1.1458333333 192.5 $ 9,625 14.583333333 2450 $ 196,000 6.3333333333 1064 $ 63,840 10.333333333 1736 $ 121,520 0 $ 100,000 5.3333333333 896 $ 2,688,000 Total cost $ 3,456,185 12. Throughout the course, Professor Hall presented a number of Web Seminars on project management. Based on D a. Professor Hall should be on TV. b. Professor Hall should be on TV and in the movies. c. When I grow up, I would like to be just like Professor Hall. All of theA above Answer d. All of the above. Arabian Gulf). You have the following information concerning installation costs: th certainty that, during the time you were installing the cable, you would encounter sea state I 25% of the time and sea state II 75% of t roject, assuming the probability of sea state 1 is normally distributed with a mean of 25% and a standard deviation of 5%. Only sea state Cost3 $7,500 $52,500 $60,000 $160,000 al cost will be less than that amount? blem). Note that your choice is only between activities d and c. med to date. The budgeted cost of that work is $400,000. It expected to have completed $500,000 worth of work by this t Whereby EV=earned value PV=planned value AC=Actual cost as you use in calculating each) BAC=budget at completion EAC=estimate at completion CPI=Cost price index SPI=Schedule performance index SV=EV-PV CV=EV-AC for your organization. However, after you think about it a while, you vaguely remember from an old course you took at e team. You estimate this will take one week and cost $3000. The second task is to lay the cable. This will take three wee Performance Actual Cost Miles $ 4,500 $ 28,000 SPI=Schedule performance index variance $ 1,500 Adverse 5 budget/mil $ 3,000 total budg $ 15,000 Actual $ per Mile budget $ 18,000 $ 32,500 53,000 VAC $ 15,000 1.226415 s to give feedback to senior management for decision and control purposes. g a project are largely irrelevant for project evaluation. ose of the audit. oject team to make the termination decision. Response 1 0 1 0 reimbursable contract. Your project is considered (pick one): Crash cost per day=crash incremental cost/increment in days Response equal to the duration of the longest path through the network. 1 ith certainty when the project is completed. 1 0 n situations where it is desirable for two or more activities to finish at the same time. 0 uired material cost is $500. The organization adds a fee of 30% to all direct labor costs to account for overhead. It does or cost+material cost + Overhead cost INAL QUESTION 11\". Calculate and enter TE for task durations when developing your plan. ADMIN RESOURCE ASSIGNMENTS ENGR TECH PROC EQUIP CONTR PM Weeks ENG weeks 25% 100% 25% 25% 25% 100% 100% 25% 100% 100% 100% 1 LOT 100% 100% 25% formula te=(a+4m+b)/6 t management. Based on these seminars, I have concluded: 100% 4 2.583333 1.583333 1 2.583333 2.666667 0.5 1 0.583333 0 5.166667 0.791667 0.5 1.291667 5.333333 1 0.5 0 e and sea state II 75% of the time? tion of 5%. Only sea states I and II are possible. Post your result, including your cost forecast. worth of work by this time. The budget for the entire project is $1,000,000. What is the: old course you took at UMUC that estimates aren't the same as reality. So, you do a bit more analysis and come up with This will take three weeks and will cost $45,000. The total length of the cable is 15 miles. The last task, which will take on t for overhead. It does not add any fee on top of material costs. The total task cost is: nalysis and come up with the following table. How much reserve should you add to your initial estimate in order to have st task, which will take one week, is to terminate and test the cable. You budget $5000 for this. At the end of the first we estimate in order to have a 90% chance of success? At the end of the first week, you have completed mobilization, but it cost a total of $4500. At the end of the third week, y he end of the third week, you have completed five miles of cable at a total cost of $28,000 (installation only). It takes you lation only). It takes you a total of 10 weeks to complete the entire project, for a total cost of $65,000. Session 11 Individual Assignment -11 Problem 1. A project in its 26th week and was scheduled to have completed work with a budgeted cost of $30 $325,000. For the work performed to date, the budgeted value is $350,000. The project has a total budget variances for the project? What are the SPI and CPI? Assuming that both schedule and cost variances wil PV= 300,000 AC= 325,000 EV= 350,000 BAC= 500,000 Actual Cost = $325,000 Budget cost of work performed = $500,000 Budget cost of work scheduled = $300,000 Schedule variance (SV) = BCWP - BCWS $350,000 The value of SV is negative meaning that the project is behind the schedule Cost variance (CV) = BCWP - ACWP $350,000 CV is positive meaning that you are under budget Schedule performance index (SPI) =BCWP / BCWS $350,000 SPI is greater than 1 meaning that the project is ahead the schedule Cost performance index CPI) = BCWP / ACWP $350,000 EAC $464,286 = AC +(500-350) / 1,076923 Problem 2. A project has just completed its 87th item in the project plan. It was scheduled to have spent $30 spent only $200,000. The project manager estimates that the value of the work actually finished is nearly $2 variances for the project? What are the SPI and CPI? What is the Crit Actual Cost = $200,000 Budget cost of work performed = $250,000 Budget cost of work scheduled = $300,000 Schedule variance (SV) = BCWP - BCWS $250,000 The value of SV is negative meaning that the project is behind the schedule Cost variance (CV) = BCWP - ACWP $250,000 CV is positive meaning that you are under budget Schedule performance index (SPI) =BCWP / BCWS $250,000 SPI is less than 1 meaning that the project is behind the schedule Cost performance index CPI) = BCWP / ACWP $250,000 CPI is more than 1 meaning earnings are more than the spending. This shows you are under budget. The progress is Critical ratio= CPI x SPI 1.25 Problem 3. The following project is at the end of its 6th week. Find the cost and schedule variances. Also find the CP using earned value calculations. Finally, calculate the EAC for the project by at least tw Activity Predecessor a b c d e Totals a a b, c Budget at Duration Actual Completion (wks) Cost ($) ($) 2 600 400 3 150 180 2 250 300 5 500 400 4 400 200 16 1900 Actual cost of work performed = 1480 Budgeted cost of work performed = 1280 1480 %Complete Earned Value 100 100 100 40 20 600 150 250 200 80 360 At 6th week, activity d will have gone for 4 weeks of 5 weeks and activity e 2 weeks of 4 weeks. 4 /5 100 = 80% 2/4 100 = 50% Budgeted cost of work scheduled = 1600 Schedule variance (SV) = BCWP - BCWS -320 1280 The project is behind the schedule Cost variance (CV) = BCWP - ACW -200 CV is negative meaning you are over budget. Schedule Performance Index (SPI) = BCWP/BCWS 0.8 Project is behind the schedule Cost Performance Index (CPI) = BCWP/ACWP 0.8648648649 The spent amount is more than the planned amount meaning that less progress than it is supposed to be. Critical ratio (CR) = (BCWP/BCWS) (BCWP/ACWP) Budget at completion (BAC) = 0.6918918919 1900 Project cost Estimated to completion (ETC) = (BAC - BCWP)/CPI Projected cost estimated at completion (EAC) = ETC + ACWP 420 1900 Problem 4. Solve the following Case: Stoneworth Paving Company specializes in highway paving jobs for state of Virginia. When the State first awarded stipulated a 1% penalty for each week Stoneworth was late on a completion date. Preston Flintrock, the project coord notice that the last two jobs were three weeks late, and the paving job that was due to be completed in the next two When Preston went in the field to investigate, he found the job to be understaffed, supplier delays, and a high work r result, Preston decided to establish a better system of project control and present it to the b a. b. If you were Preston, what characteristics would you look for in a new control system? Explain Will a new control system be adequate for the problem? Explain a A. Preston needs a control system such as tracking the progress that will help identify and report on supplier lim and quality. If the project is to be speeded up to catch up with the schedule, a control system that leans towa projects is required. Additionally, it is critical to keep monitoring necessary measur Implementing monitor and control leads to successful completion of a project. This helps project managers mak keeping track of each phase of the project. b Although new control system is necessary, it will not solve the entire problem because other factors such as we system will only minimize the chances of the project being late. with a budgeted cost of $300,000. The work it has completed actually cost e project has a total budget of $500,000. What are the cost and schedule dule and cost variances will affect the remaining work, what is the EAC? - $300,000 = $50,000 - $325,000 = $25,000 / $300,000 = 1.1666666667 / $325,000 = 1.0769230769 scheduled to have spent $300,000 at this point in the plan, but has actually actually finished is nearly $250,000. What are the spending and schedule and CPI? What is the Critical Ratio? - $300,000 = ($50,000) - $200,000 = $50,000 / $300,000 = 0.8333333333 / $200,000 = 1.25 e under budget. The progress is more than anticipated. * 0.8333333333 = 1.0416666667 le variances. Also find the CPI and SPI. Then find the critical ratio of the project C for the project by at least two different methods. When the State first awarded Stoneworth the contract, they on Flintrock, the project coordinator for Stoneworth, began to be completed in the next two weeks was behind schedule. plier delays, and a high work rejection/repaving needed. As a control and present it to the boss. ol system? Explain ntify and report on supplier limitations and dates, employment, control system that leans towards high-pressure, time-critical p monitoring necessary measures. his helps project managers make better decisions since they are the project. cause other factors such as weather can affect the project. The f the project being late. 1. You are estimating costs for installing undersea cable in the Persian Gulf (aka the Arabian Gulf). You have th a. What would be the estimated cost of the project if you knew with certainty that, during th Installation Cost The material cost per kilometer for cable is $100,000. Sea State Cost/kilometer I II P Cost(P*COST/KM) $25,000 The cost per kilometer 0.25 for installation $6,250 depends on the sea conditions (sea state). $75,000 0.75 $56,250 Sum $62,500 Material Cost/kilometre Total cost per Kilometre Total Cost(100KMs) b. I II $25,000 $75,000 100,000 $162,500 $16,250,000 Run a Crystal Ball calculation of the total estimated cost of the project, assuming the proba Sea State Cost/kilometer b $ P1 P2 0.25 0.75 Sum(installation costs) Total Costs P3 0.2 0.8 Cost1 0.3 0.7 $6,250 $56,250 $62,500 $162,500 Cost2 $5,000 $60,000 $65,000 $165,000 What is your mean expected cost? c Mean Expected Cost d. d $162,500 What estimated cost provides you 95% assurance that your actual cost will be less than tha $165,000 2. Solve problem 23 at the end of chapter 6 of Mantel (be sure to read the entire problem). Note that your ch 2 a. Minimum slack: b. Most followers: c. Most critical followers: d.Shortest task first e. As late as possible: Activity d d c c c 3. A project is in its 50th week and has an actual cost of $300,000 for the work performed to date. The budge Actual cost 3 $ 300,000 Budgeted Cost $ 400,000 Expected Complete$ 500,000 Total budget $ 1,000,000 1. What is the: a) CV b)SV c) CPI d) E Formulae a. CV CPI=EV/PV b. SV SPI=EV/AC c. CPI EAC=BAC/CPI d. EAC (provide two possible values. Show the formulas you use in calculating ea d. EAC$(provide100,000 two possible values. Show the formulas you use in calculating each) Favourable $ 200,000 Under budget 1.33 800,000 600,000 1 $ 2 $ 4.You have prepared an initial estimate of $2,000,000 to develop a software application for your organization. Answer Activity Labor 4 Most Likely Optimistic Pessimistic $1,000,000 $800,000 $1,500,000 Commercial SW and Licenses $500,000 $450,000 $550,000 Subcontracts $500,000 $450,000 $600,000 $2,000,000 $2,116,667 $1,700,000 $2,650,000 Totals Average reserve 94% $1,905,000.0 (90%*2000000) $95,000.0 5. You are preparing a project to lay fiber optic cable. The first task is to mobilize the team. You estimate th Answer 5 Task Period Team mobilizati Lay cable Testing cables BAC Cost(budgeted)Miles 1 $ 3,000 3 $ 45,000 1 $ 5,000 $ 53,000 weeks to complet total cost $ VAC $ Formulae CPI=EV/PV SPI=EV/AC EAC=BAC/CPI Whereby EV=earned value PV=planned value AC=Actual cost a. period 15 1 3 10 65,000 12,000 BAC=budget at completion EAC=estimate at completion CPI=Cost price index At the end of week 1: SPI=Schedule performanc i. ii. iii. What is your0.6666666667 SPI? What is your0.6666666667 CPI? What is your $EAC? 4,500 b. At the end of week 3: c. i. ii. iii. At the end of the project: i. ii. iii.What is your EAC What is yourbudget SPI? 1.833333333 What is your CPI? 1.015384615 is your EAC? $ What 18,000 $ 33,000 What is your 1 SPI? What is your 0.815384615 CPI? $ 38,000 budget 6. Identify which of the following statements is true and which is false: a. The primary purpose of project evaluation is to give feedback to senior b. The original criteria for selecting and funding a project are largely irrele c. The timing of an audit depends on the purpose of the audit. d. It is best for the project manager and the project team to make the ter 6 7. Your project is to provide facilities for the 2016 Olympics. You are on a cost reimbursable contract. Y c. 8 Budget constrained 4000 Incremental cost 2 days reduced Crash cost per $ 2,000 D Formula (10000-60000) (9-7) a. The shortest time to complete a network is equal to the duration of th b. The actual project duration will be known with certainty when the proj c. The difference between EST and LFT is called slack. d. The start to finish linkage is normally used in situations where it is desi 9 10. A task is expected to take 20 hours of labor at $25 per hour (direct cost). The required material cost is $5 10 Labo$ material cost $ Overhead cpst $ TOTAL $ 11 500 500 150 1,150 b Total cost=labor cost+material cost + Ov Using MSP, develop the project plan described in the attached file \"FINAL QUESTION 11\". a. Submit your resulting MSP file. b. What is the expected duration? c. What is the expected cost? Phase Task Predecessor DURATION ESTIMATES (WEEKS) Optimistic(a) Most Likely(m) Pessimistic(b) TE PM A A B B B C C D D A-1 A-2 B-1 B-2 B-3 C-1 C-2 D-1 D-2 RESOURCE PM $ ADMIN $ ENGR $ TECH $ PROC $ EQUIP CONTR A-1 A-2 B-1 B-2 B-3 C-1 C-2 D-1 COST 100.00 PER HOUR 50.00 PER HOUR 80.00 PER HOUR 60.00 PER HOUR 70.00 PER HOUR ### PER USE ### PER DAY 3 4 2 1 4 3 1 1 0.5 TYPE WORK WORK WORK WORK WORK MATERIAL WORK 4 5 3 2 5 5 1 2 0.5 5 7 5 3 7 9 1 3 1 Weeks 4 5.1666666667 3.1666666667 2 5.1666666667 5.3333333333 1 2 0.5833333333 100% 50% 50% 50% 50% 50% 50% 50% 100% hours Cost 16.5 2772 $ 277,200 1.1458333333 192.5 $ 9,625 14.583333333 2450 $ 196,000 6.3333333333 1064 $ 63,840 10.333333333 1736 $ 121,520 0 $ 100,000 5.3333333333 896 $ 2,688,000 Total cost $ 3,456,185 12. Throughout the course, Professor Hall presented a number of Web Seminars on project management. Based on D a. Professor Hall should be on TV. b. Professor Hall should be on TV and in the movies. c. When I grow up, I would like to be just like Professor Hall. All of theA above Answer d. All of the above. Arabian Gulf). You have the following information concerning installation costs: th certainty that, during the time you were installing the cable, you would encounter sea state I 25% of the time and sea state II 75% of t roject, assuming the probability of sea state 1 is normally distributed with a mean of 25% and a standard deviation of 5%. Only sea state Cost3 $7,500 $52,500 $60,000 $160,000 al cost will be less than that amount? blem). Note that your choice is only between activities d and c. med to date. The budgeted cost of that work is $400,000. It expected to have completed $500,000 worth of work by this t Whereby EV=earned value PV=planned value AC=Actual cost as you use in calculating each) BAC=budget at completion EAC=estimate at completion CPI=Cost price index SPI=Schedule performance index SV=EV-PV CV=EV-AC for your organization. However, after you think about it a while, you vaguely remember from an old course you took at e team. You estimate this will take one week and cost $3000. The second task is to lay the cable. This will take three wee Performance Actual Cost Miles $ 4,500 $ 28,000 SPI=Schedule performance index variance $ 1,500 Adverse 5 budget/mil $ 3,000 total budg $ 15,000 Actual $ per Mile budget $ 18,000 $ 32,500 53,000 VAC $ 15,000 1.226415 s to give feedback to senior management for decision and control purposes. g a project are largely irrelevant for project evaluation. ose of the audit. oject team to make the termination decision. Response 1 0 1 0 reimbursable contract. Your project is considered (pick one): Response equal to the duration of the longest path through the network. 1 ith certainty when the project is completed. 1 0 n situations where it is desirable for two or more activities to finish at the same time. 0 uired material cost is $500. The organization adds a fee of 30% to all direct labor costs to account for overhead. It does or cost+material cost + Overhead cost INAL QUESTION 11\". Calculate and enter TE for task durations when developing your plan. ADMIN RESOURCE ASSIGNMENTS ENGR TECH PROC EQUIP CONTR PM Weeks ENG weeks 25% 100% 25% 25% 25% 100% 100% 25% 100% 100% 100% 1 LOT 100% 100% 25% formula te=(a+4m+b)/6 t management. Based on these seminars, I have concluded: 100% 4 2.583333 1.583333 1 2.583333 2.666667 0.5 1 0.583333 0 5.166667 0.791667 0.5 1.291667 5.333333 1 0.5 0 e and sea state II 75% of the time? tion of 5%. Only sea states I and II are possible. Post your result, including your cost forecast. worth of work by this time. The budget for the entire project is $1,000,000. What is the: old course you took at UMUC that estimates aren't the same as reality. So, you do a bit more analysis and come up with This will take three weeks and will cost $45,000. The total length of the cable is 15 miles. The last task, which will take on t for overhead. It does not add any fee on top of material costs. The total task cost is: nalysis and come up with the following table. How much reserve should you add to your initial estimate in order to have st task, which will take one week, is to terminate and test the cable. You budget $5000 for this. At the end of the first we estimate in order to have a 90% chance of success? At the end of the first week, you have completed mobilization, but it cost a total of $4500. At the end of the third week, y he end of the third week, you have completed five miles of cable at a total cost of $28,000 (installation only). It takes you lation only). It takes you a total of 10 weeks to complete the entire project, for a total cost of $65,000. 1. You are estimating costs for installing undersea cable in the Persian Gulf (aka the Arabian Gulf). You have th a. What would be the estimated cost of the project if you knew with certainty that, during th Installation Cost The material cost per kilometer for cable is $100,000. Sea State Cost/kilometer I II P Cost(P*COST/KM) $25,000 The cost per kilometer 0.25 for installation $6,250 depends on the sea conditions (sea state). $75,000 0.75 $56,250 Sum $62,500 Material Cost/kilometre Total cost per Kilometre Total Cost(100KMs) b. I II $25,000 $75,000 100,000 $162,500 $16,250,000 Run a Crystal Ball calculation of the total estimated cost of the project, assuming the proba Sea State Cost/kilometer b $ P1 P2 0.25 0.75 Sum(installation costs) Total Costs P3 0.2 0.8 Cost1 0.3 0.7 $6,250 $56,250 $62,500 $162,500 Cost2 $5,000 $60,000 $65,000 $165,000 What is your mean expected cost? c Mean Expected Cost d. d $162,500 What estimated cost provides you 95% assurance that your actual cost will be less than tha $165,000 2. Solve problem 23 at the end of chapter 6 of Mantel (be sure to read the entire problem). Note that your ch 2 a. Minimum slack: b. Most followers: c. Most critical followers: d.Shortest task first e. As late as possible: Activity d d c c c 3. A project is in its 50th week and has an actual cost of $300,000 for the work performed to date. The budge Actual cost 3 $ 300,000 Budgeted Cost $ 400,000 Expected Complete$ 500,000 Total budget $ 1,000,000 1. What is the: a) CV b)SV c) CPI d) E Formulae a. CV CPI=EV/PV b. SV SPI=EV/AC c. CPI EAC=BAC/CPI d. EAC (provide two possible values. Show the formulas you use in calculating ea d. EAC$(provide100,000 two possible values. Show the formulas you use in calculating each) Favourable $ 200,000 Under budget 1.33 800,000 600,000 1 $ 2 $ 4.You have prepared an initial estimate of $2,000,000 to develop a software application for your organization. Answer Activity Labor 4 Most Likely Optimistic Pessimistic $1,000,000 $800,000 $1,500,000 Commercial SW and Licenses $500,000 $450,000 $550,000 Subcontracts $500,000 $450,000 $600,000 $2,000,000 $2,116,667 $1,700,000 $2,650,000 Totals Average reserve 94% $1,905,000.0 (90%*2000000) $95,000.0 5. You are preparing a project to lay fiber optic cable. The first task is to mobilize the team. You estimate th Answer 5 Task Period Team mobilizati Lay cable Testing cables BAC Cost(budgeted)Miles 1 $ 3,000 3 $ 45,000 1 $ 5,000 $ 53,000 weeks to complet total cost $ VAC $ Formulae CPI=EV/PV SPI=EV/AC EAC=BAC/CPI Whereby EV=earned value PV=planned value AC=Actual cost a. period 15 1 3 10 65,000 12,000 BAC=budget at completion EAC=estimate at completion CPI=Cost price index At the end of week 1: SPI=Schedule performanc i. ii. iii. What is your0.6666666667 SPI? What is your0.6666666667 CPI? What is your $EAC? 4,500 b. At the end of week 3: c. i. ii. iii. At the end of the project: i. ii. iii.What is your EAC What is yourbudget SPI? 1.833333333 What is your CPI? 1.015384615 is your EAC? $ What 18,000 $ 33,000 What is your 1 SPI? What is your 0.815384615 CPI? $ 38,000 budget 6. Identify which of the following statements is true and which is false: a. The primary purpose of project evaluation is to give feedback to senior b. The original criteria for selecting and funding a project are largely irrele c. The timing of an audit depends on the purpose of the audit. d. It is best for the project manager and the project team to make the ter 6 7. Your project is to provide facilities for the 2016 Olympics. You are on a cost reimbursable contract. Y c. 8 Budget constrained 4000 Incremental cost 2 days reduced Crash cost per day $ 2,000 D Formula (10000-60000) (9-7) Crash cost per day=crash a. The shortest time to complete a network is equal to the duration of th b. The actual project duration will be known with certainty when the proj c. The difference between EST and LFT is called slack. d. The start to finish linkage is normally used in situations where it is desi 9 10. A task is expected to take 20 hours of labor at $25 per hour (direct cost). The required material cost is $5 10 Labo$ material cost $ Overhead cpst $ TOTAL $ 11 500 500 150 1,150 b Total cost=labor cost+material cost + Ov Using MSP, develop the project plan described in the attached file \"FINAL QUESTION 11\". a. Submit your resulting MSP file. b. What is the expected duration? c. What is the expected cost? Phase Task Predecessor DURATION ESTIMATES (WEEKS) Optimistic(a) Most Likely(m) Pessimistic(b) TE PM A A B B B C C D D A-1 A-2 B-1 B-2 B-3 C-1 C-2 D-1 D-2 RESOURCE PM $ ADMIN $ ENGR $ TECH $ PROC $ EQUIP CONTR A-1 A-2 B-1 B-2 B-3 C-1 C-2 D-1 COST 100.00 PER HOUR 50.00 PER HOUR 80.00 PER HOUR 60.00 PER HOUR 70.00 PER HOUR ### PER USE ### PER DAY 3 4 2 1 4 3 1 1 0.5 TYPE WORK WORK WORK WORK WORK MATERIAL WORK 4 5 3 2 5 5 1 2 0.5 5 7 5 3 7 9 1 3 1 Weeks 4 5.1666666667 3.1666666667 2 5.1666666667 5.3333333333 1 2 0.5833333333 100% 50% 50% 50% 50% 50% 50% 50% 100% hours Cost 16.5 2772 $ 277,200 1.1458333333 192.5 $ 9,625 14.583333333 2450 $ 196,000 6.3333333333 1064 $ 63,840 10.333333333 1736 $ 121,520 0 $ 100,000 5.3333333333 896 $ 2,688,000 Total cost $ 3,456,185 12. Throughout the course, Professor Hall presented a number of Web Seminars on project management. Based on D a. Professor Hall should be on TV. b. Professor Hall should be on TV and in the movies. c. When I grow up, I would like to be just like Professor Hall. All of theA above Answer d. All of the above. Arabian Gulf). You have the following information concerning installation costs: th certainty that, during the time you were installing the cable, you would encounter sea state I 25% of the time and sea state II 75% of t roject, assuming the probability of sea state 1 is normally distributed with a mean of 25% and a standard deviation of 5%. Only sea state Cost3 $7,500 $52,500 $60,000 $160,000 al cost will be less than that amount? blem). Note that your choice is only between activities d and c. med to date. The budgeted cost of that work is $400,000. It expected to have completed $500,000 worth of work by this t Whereby EV=earned value PV=planned value AC=Actual cost as you use in calculating each) BAC=budget at completion EAC=estimate at completion CPI=Cost price index SPI=Schedule performance index SV=EV-PV CV=EV-AC for your organization. However, after you think about it a while, you vaguely remember from an old course you took at e team. You estimate this will take one week and cost $3000. The second task is to lay the cable. This will take three wee Performance Actual Cost Miles $ 4,500 $ 28,000 SPI=Schedule performance index variance $ 1,500 Adverse 5 budget/mil $ 3,000 total budg $ 15,000 Actual $ per Mile budget $ 18,000 $ 32,500 53,000 VAC $ 15,000 1.226415 s to give feedback to senior management for decision and control purposes. g a project are largely irrelevant for project evaluation. ose of the audit. oject team to make the termination decision. Response 1 0 1 0 reimbursable contract. Your project is considered (pick one): Crash cost per day=crash incremental cost/increment in days Response equal to the duration of the longest path through the network. 1 ith certainty when the project is completed. 1 0 n situations where it is desirable for two or more activities to finish at the same time. 0 uired material cost is $500. The organization adds a fee of 30% to all direct labor costs to account for overhead. It does or cost+material cost + Overhead cost INAL QUESTION 11\". Calculate and enter TE for task durations when developing your plan. ADMIN RESOURCE ASSIGNMENTS ENGR TECH PROC EQUIP CONTR PM Weeks ENG weeks 25% 100% 25% 25% 25% 100% 100% 25% 100% 100% 100% 1 LOT 100% 100% 25% formula te=(a+4m+b)/6 t management. Based on these seminars, I have concluded: 100% 4 2.583333 1.583333 1 2.583333 2.666667 0.5 1 0.583333 0 5.166667 0.791667 0.5 1.291667 5.333333 1 0.5 0 e and sea state II 75% of the time? tion of 5%. Only sea states I and II are possible. Post your result, including your cost forecast. worth of work by this time. The budget for the entire project is $1,000,000. What is the: old course you took at UMUC that estimates aren't the same as reality. So, you do a bit more analysis and come up with This will take three weeks and will cost $45,000. The total length of the cable is 15 miles. The last task, which will take on t for overhead. It does not add any fee on top of material costs. The total task cost is: nalysis and come up with the following table. How much reserve should you add to your initial estimate in order to have st task, which will take one week, is to terminate and test the cable. You budget $5000 for this. At the end of the first we estimate in order to have a 90% chance of success? At the end of the first week, you have completed mobilization, but it cost a total of $4500. At the end of the third week, y he end of the third week, you have completed five miles of cable at a total cost of $28,000 (installation only). It takes you lation only). It takes you a total of 10 weeks to complete the entire project, for a total cost of $65,000