PMAN635 Session 11 IA-11 Session 11 Individual Assignment -11 Using the concepts discussed in Chapter 7, complete the following problems. Be sure to show all calculations, preferably in an EXCEL file. Each problem is of equal value. Each part of a problem is equal. Problem 1. A project in its 26th week and was scheduled to have completed work with a budgeted cost of $300,000. The work it has completed actually cost $325,000. For the work performed to date, the budgeted value is $350,000. The project has a total budget of $500,000. What are the cost and schedule variances for the project? What are the SPI and CPI? Assuming that both schedule and cost variances will affect the remaining work, what is the EAC? a. b. c. d. e. CV = SV = SPI = CPI = EAC = Problem 2. A project has just completed its 87th item in the project plan. It was scheduled to have spent $300,000 at this point in the plan, but has actually spent only $200,000. The project manager estimates that the value of the work actually finished is nearly $250,000. What are the spending and schedule variances for the project? What are the SPI and CPI? What is the Critical Ratio? a. b. c. d. e. CV = SV = SPI = CPI = CR = Problem 3. The following project is at the end of its 6th week. Find the cost and schedule variances. Also find the CPI and SPI. Then find the critical ratio of the project using earned value calculations. Finally, calculate the EAC for the project by at least two different methods. Activity a b c d e a. CV = Predecessor a a b, c Duration (wks) 2 3 2 5 4 Budget at Completion ($) 600 150 250 500 400 Actual Cost ($) %Complete 400 180 300 400 200 100 100 100 40 20 PMAN635 Session 11 IA-11 b. c. d. e. f. SV = CPI = SPI= CR= EAC= Problem 4. Solve the following Case: Stoneworth Paving Company specializes in highway paving jobs for state of Virginia. When the State first awarded Stoneworth the contract, they stipulated a 1% penalty for each week Stoneworth was late on a completion date. Preston Flintrock, the project coordinator for Stoneworth, began to notice that the last two jobs were three weeks late, and the paving job that was due to be completed in the next two weeks was behind schedule. When Preston went in the field to investigate, he found the job to be understaffed, supplier delays, and a high work rejection/repaving needed. As a result, Preston decided to establish a better system of project control and present it to the boss. a. If you were Preston, what characteristics would you look for in a new control system? Explain b. Will a new control system be adequate for the problem? Explain \f\f\f\f\fProblem 1. A project in its 26th week and was scheduled to have completed work with a budgeted cost o actually cost $325,000. For the work performed to date, the budgeted value is $350,000. The project has cost and schedule variances for the project? What are the SPI and CPI? Assuming that both schedule an work, what is the EAC? Actual Cost = $325,000 Budget cost of work performed = $500,000 Budget cost of work scheduled = $300,000 Schedule variance (SV) = BCWP - BCWS $300,000 The value of SV is negative meaning that the project is behind the schedule Cost variance (CV) = BCWP - ACWP $500,000 CV is positive meaning that you are under budget Schedule performance index (SPI) =BCWP / BCWS $500,000 SPI is greater than 1 meaning that the project is ahead the schedule Cost performance index CPI) = BCWP / ACWP $500,000 EAC $211,250 EAC = AC / CPI Problem 2. A project has just completed its 87th item in the project plan. It was scheduled to have spent $ actually spent only $200,000. The project manager estimates that the value of the work actually finished is and schedule variances for the project? What are the SPI and CPI? What is the 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 $250,000 CPI is more than 1 meaning earnings are more than the spending. This shows you are under budget. The progre Critical ratio= CPI x SPI 1.25 Problem 3. The following project is at the end of its 6th week. Find the cost and schedule variances. Also find th the project using earned value calculations. Finally, calculate the EAC for the project by at lea Activity Predecessor a b c d e a a b, c Budget at Duration Actual Completion (wks) Cost ($) ($) 2 600 400 3 150 180 2 250 300 5 500 400 4 400 200 Actual cost of work performed = 1480 Budgeted cost of work performed = 1180 %Complete 100 100 100 40 20 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 -420 The project is behind the schedule Cost variance (CV) = BCWP - ACW -300 CV is negative meaning you are over budget. Schedule Performance Index (SPI) = BCWP/BCWS 0.7375 Project is behind the schedule Cost Performance Index (CPI) = BCWP/ACWP 0.7972972973 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) = 0.5880067568 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 aw contract, they stipulated a 1% penalty for each week Stoneworth was late on a completion date. Preston Flintrock for Stoneworth, began to notice that the last two jobs were three weeks late, and the paving job that was due to b two weeks was behind schedule. When Preston went in the field to investigate, he found the job to be understaffe high work rejection/repaving needed. As a result, Preston decided to establish a better system of project control a 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 Preston needs a control system that will help him to identify and report on supplier limitations and dates, em the project is to be speeded up in order to catch up with the schedule, a control system that leans towards h projects is required. Additionally, it is critical to keep monitoring necessary measures b Although new control system is necessary, it will not solve the entire problem because other factors such a project. The system will only minimize the chances of the project being late. d work with a budgeted cost of $300,000. The work it has completed is $350,000. The project has a total budget of $500,000. What are the suming that both schedule and cost variances will affect the remaining the EAC? - $500,000 = ($200,000) - $325,000 = $175,000 / $300,000 = 1.6666666667 / $325,000 = 1.5384615385 was scheduled to have spent $300,000 at this point in the plan, but has f the work actually finished is nearly $250,000. What are the spending he SPI and CPI? What is the Critical Ratio? - $300,000 = ($50,000) - $200,000 = $50,000 / $300,000 = 0.8333333333 / $200,000 = 1.25 you are under budget. The progress is more than anticipated. * 0.833333 = 1.0416666667 chedule variances. Also find the CPI and SPI. Then find the critical ratio of he EAC for the project by at least two different methods. s supposed to be. irginia. When the State first awarded Stoneworth the mpletion date. Preston Flintrock, the project coordinator the paving job that was due to be completed in the next found the job to be understaffed, supplier delays, and a etter system of project control and present it to the boss. control system? Explain supplier limitations and dates, employment, and quality. If ntrol system that leans towards high-pressure, time-critical p monitoring necessary measures. lem because other factors such as weather can affect the nces of the project being late. Problem 1. A project in its 26th week and was scheduled to have completed work with a budgeted cost o actually cost $325,000. For the work performed to date, the budgeted value is $350,000. The project has cost and schedule variances for the project? What are the SPI and CPI? Assuming that both schedule an work, what is the EAC? Actual Cost = $325,000 Budget cost of work performed = $500,000 Budget cost of work scheduled = $300,000 Schedule variance (SV) = BCWP - BCWS $300,000 The value of SV is negative meaning that the project is behind the schedule Cost variance (CV) = BCWP - ACWP $500,000 CV is positive meaning that you are under budget Schedule performance index (SPI) =BCWP / BCWS $500,000 SPI is greater than 1 meaning that the project is ahead the schedule Cost performance index CPI) = BCWP / ACWP $500,000 EAC $211,250 EAC = AC / CPI Problem 2. A project has just completed its 87th item in the project plan. It was scheduled to have spent $ actually spent only $200,000. The project manager estimates that the value of the work actually finished is and schedule variances for the project? What are the SPI and CPI? What is the 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 $250,000 CPI is more than 1 meaning earnings are more than the spending. This shows you are under budget. The progre Critical ratio= CPI x SPI 1.25 Problem 3. The following project is at the end of its 6th week. Find the cost and schedule variances. Also find th the project using earned value calculations. Finally, calculate the EAC for the project by at lea Activity Predecessor a b c d e a a b, c Budget at Duration Actual Completion (wks) Cost ($) ($) 2 600 400 3 150 180 2 250 300 5 500 400 4 400 200 Actual cost of work performed = 1480 Budgeted cost of work performed = 1180 %Complete 100 100 100 40 20 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 -420 The project is behind the schedule Cost variance (CV) = BCWP - ACW -300 CV is negative meaning you are over budget. Schedule Performance Index (SPI) = BCWP/BCWS 0.7375 Project is behind the schedule Cost Performance Index (CPI) = BCWP/ACWP 0.7972972973 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) = 0.5880067568 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 aw contract, they stipulated a 1% penalty for each week Stoneworth was late on a completion date. Preston Flintrock for Stoneworth, began to notice that the last two jobs were three weeks late, and the paving job that was due to b two weeks was behind schedule. When Preston went in the field to investigate, he found the job to be understaffe high work rejection/repaving needed. As a result, Preston decided to establish a better system of project control a 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 Preston needs a control system that will help him to identify and report on supplier limitations and dates, em the project is to be speeded up in order to catch up with the schedule, a control system that leans towards h projects is required. Additionally, it is critical to keep monitoring necessary measures b Although new control system is necessary, it will not solve the entire problem because other factors such a project. The system will only minimize the chances of the project being late. d work with a budgeted cost of $300,000. The work it has completed is $350,000. The project has a total budget of $500,000. What are the suming that both schedule and cost variances will affect the remaining the EAC? - $500,000 = ($200,000) - $325,000 = $175,000 / $300,000 = 1.6666666667 / $325,000 = 1.5384615385 was scheduled to have spent $300,000 at this point in the plan, but has f the work actually finished is nearly $250,000. What are the spending he SPI and CPI? What is the Critical Ratio? - $300,000 = ($50,000) - $200,000 = $50,000 / $300,000 = 0.8333333333 / $200,000 = 1.25 you are under budget. The progress is more than anticipated. * 0.833333 = 1.0416666667 chedule variances. Also find the CPI and SPI. Then find the critical ratio of he EAC for the project by at least two different methods. s supposed to be. irginia. When the State first awarded Stoneworth the mpletion date. Preston Flintrock, the project coordinator the paving job that was due to be completed in the next found the job to be understaffed, supplier delays, and a etter system of project control and present it to the boss. control system? Explain supplier limitations and dates, employment, and quality. If ntrol system that leans towards high-pressure, time-critical p monitoring necessary measures. lem because other factors such as weather can affect the nces of the project being late. \f\f\f\f\fProblem 1. A project in its 26th week and was scheduled to have completed work with a budgeted cost o actually cost $325,000. For the work performed to date, the budgeted value is $350,000. The project has cost and schedule variances for the project? What are the SPI and CPI? Assuming that both schedule an work, what is the EAC? Actual Cost = $325,000 Budget cost of work performed = $500,000 Budget cost of work scheduled = $300,000 Schedule variance (SV) = BCWP - BCWS $300,000 The value of SV is negative meaning that the project is behind the schedule Cost variance (CV) = BCWP - ACWP $500,000 CV is positive meaning that you are under budget Schedule performance index (SPI) =BCWP / BCWS $500,000 SPI is greater than 1 meaning that the project is ahead the schedule Cost performance index CPI) = BCWP / ACWP $500,000 EAC $211,250 EAC = AC / CPI Problem 2. A project has just completed its 87th item in the project plan. It was scheduled to have spent $ actually spent only $200,000. The project manager estimates that the value of the work actually finished is and schedule variances for the project? What are the SPI and CPI? What is the 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 $250,000 CPI is more than 1 meaning earnings are more than the spending. This shows you are under budget. The progre Critical ratio= CPI x SPI 1.25 Problem 3. The following project is at the end of its 6th week. Find the cost and schedule variances. Also find th the project using earned value calculations. Finally, calculate the EAC for the project by at lea Activity Predecessor a b c d e a a b, c Budget at Duration Actual Completion (wks) Cost ($) ($) 2 600 400 3 150 180 2 250 300 5 500 400 4 400 200 Actual cost of work performed = 1480 Budgeted cost of work performed = 1180 %Complete 100 100 100 40 20 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 -420 The project is behind the schedule Cost variance (CV) = BCWP - ACW -300 CV is negative meaning you are over budget. Schedule Performance Index (SPI) = BCWP/BCWS 0.7375 Project is behind the schedule Cost Performance Index (CPI) = BCWP/ACWP 0.7972972973 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) = 0.5880067568 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 aw contract, they stipulated a 1% penalty for each week Stoneworth was late on a completion date. Preston Flintrock for Stoneworth, began to notice that the last two jobs were three weeks late, and the paving job that was due to b two weeks was behind schedule. When Preston went in the field to investigate, he found the job to be understaffe high work rejection/repaving needed. As a result, Preston decided to establish a better system of project control a 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 Preston needs a control system that will help him to identify and report on supplier limitations and dates, em the project is to be speeded up in order to catch up with the schedule, a control system that leans towards h projects is required. Additionally, it is critical to keep monitoring necessary measures b Although new control system is necessary, it will not solve the entire problem because other factors such a project. The system will only minimize the chances of the project being late. d work with a budgeted cost of $300,000. The work it has completed is $350,000. The project has a total budget of $500,000. What are the suming that both schedule and cost variances will affect the remaining the EAC? - $500,000 = ($200,000) - $325,000 = $175,000 / $300,000 = 1.6666666667 / $325,000 = 1.5384615385 was scheduled to have spent $300,000 at this point in the plan, but has f the work actually finished is nearly $250,000. What are the spending he SPI and CPI? What is the Critical Ratio? - $300,000 = ($50,000) - $200,000 = $50,000 / $300,000 = 0.8333333333 / $200,000 = 1.25 you are under budget. The progress is more than anticipated. * 0.833333 = 1.0416666667 chedule variances. Also find the CPI and SPI. Then find the critical ratio of he EAC for the project by at least two different methods. s supposed to be. irginia. When the State first awarded Stoneworth the mpletion date. Preston Flintrock, the project coordinator the paving job that was due to be completed in the next found the job to be understaffed, supplier delays, and a etter system of project control and present it to the boss. control system? Explain supplier limitations and dates, employment, and quality. If ntrol system that leans towards high-pressure, time-critical p monitoring necessary measures. lem because other factors such as weather can affect the nces of the project being late. Problem 1. A project in its 26th week and was scheduled to have completed work with a budgeted cost o actually cost $325,000. For the work performed to date, the budgeted value is $350,000. The project has cost and schedule variances for the project? What are the SPI and CPI? Assuming that both schedule an work, what is the EAC? Actual Cost = $325,000 Budget cost of work performed = $500,000 Budget cost of work scheduled = $300,000 Schedule variance (SV) = BCWP - BCWS $300,000 The value of SV is negative meaning that the project is behind the schedule Cost variance (CV) = BCWP - ACWP $500,000 CV is positive meaning that you are under budget Schedule performance index (SPI) =BCWP / BCWS $500,000 SPI is greater than 1 meaning that the project is ahead the schedule Cost performance index CPI) = BCWP / ACWP $500,000 EAC $211,250 EAC = AC / CPI Problem 2. A project has just completed its 87th item in the project plan. It was scheduled to have spent $ actually spent only $200,000. The project manager estimates that the value of the work actually finished is and schedule variances for the project? What are the SPI and CPI? What is the 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 $250,000 CPI is more than 1 meaning earnings are more than the spending. This shows you are under budget. The progre Critical ratio= CPI x SPI 1.25 Problem 3. The following project is at the end of its 6th week. Find the cost and schedule variances. Also find th the project using earned value calculations. Finally, calculate the EAC for the project by at lea Activity Predecessor a b c d e a a b, c Budget at Duration Actual Completion (wks) Cost ($) ($) 2 600 400 3 150 180 2 250 300 5 500 400 4 400 200 Actual cost of work performed = 1480 Budgeted cost of work performed = 1180 %Complete 100 100 100 40 20 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 -420 The project is behind the schedule Cost variance (CV) = BCWP - ACW -300 CV is negative meaning you are over budget. Schedule Performance Index (SPI) = BCWP/BCWS 0.7375 Project is behind the schedule Cost Performance Index (CPI) = BCWP/ACWP 0.7972972973 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) = 0.5880067568 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 aw contract, they stipulated a 1% penalty for each week Stoneworth was late on a completion date. Preston Flintrock for Stoneworth, began to notice that the last two jobs were three weeks late, and the paving job that was due to b two weeks was behind schedule. When Preston went in the field to investigate, he found the job to be understaffe high work rejection/repaving needed. As a result, Preston decided to establish a better system of project control a 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 Preston needs a control system that will help him to identify and report on supplier limitations and dates, em the project is to be speeded up in order to catch up with the schedule, a control system that leans towards h projects is required. Additionally, it is critical to keep monitoring necessary measures b Although new control system is necessary, it will not solve the entire problem because other factors such a project. The system will only minimize the chances of the project being late. d work with a budgeted cost of $300,000. The work it has completed is $350,000. The project has a total budget of $500,000. What are the suming that both schedule and cost variances will affect the remaining the EAC? - $500,000 = ($200,000) - $325,000 = $175,000 / $300,000 = 1.6666666667 / $325,000 = 1.5384615385 was scheduled to have spent $300,000 at this point in the plan, but has f the work actually finished is nearly $250,000. What are the spending he SPI and CPI? What is the Critical Ratio? - $300,000 = ($50,000) - $200,000 = $50,000 / $300,000 = 0.8333333333 / $200,000 = 1.25 you are under budget. The progress is more than anticipated. * 0.833333 = 1.0416666667 chedule variances. Also find the CPI and SPI. Then find the critical ratio of he EAC for the project by at least two different methods. s supposed to be. irginia. When the State first awarded Stoneworth the mpletion date. Preston Flintrock, the project coordinator the paving job that was due to be completed in the next found the job to be understaffed, supplier delays, and a etter system of project control and present it to the boss. control system? Explain supplier limitations and dates, employment, and quality. If ntrol system that leans towards high-pressure, time-critical p monitoring necessary measures. lem because other factors such as weather can affect the nces of the project being late