Project: Construction of a new office building in Parramatta

Scope: Construction of a 10-story office building with a total floor area of 20,000 square meters

Schedule: The project is expected to take 18 months to complete, with a planned start date of January 1st 2023 and a planned end date of June 30th 2024.

Budget: The total budget for the project is $50 million.

Assumptions: The project will be divided into 6 phases, each taking 3 months to complete. Tasks 1: The project manager will use earned value management (EVM) to track the project's progress.

Question 1.1: Use EVM to track the project's progress and calculate the following metrics (table 1): ? Planned value (PV) ? Earned value (EV) - calculate based on the % completion ? Actual cost (AC) - make reasonable assumption of the actual cost yourself ? Schedule variance (SV) ? Cost variance (CV) ? Schedule performance index (SPI) ? Cost performance index (CPI)

Question 1.2: Analyse the EVM data to identify any schedule or cost variances, and recommend corrective actions if necessary.

Table 1: EVM analysis Variance Performance Index WBS March June Sep Dec March June Budget % Earned Actual Schedule Cost Schedule Cost Element (PV) completion Value Cost SV CV SPI CPI (EV) (AC) 1. 2,000,000 100% 2,500,000 Initiation 2. 4,600,000 85% Planning 3. Design 2,400,000 80% 4. building 40,000,000 75% construction 5. testing and 920,000 80% commisioning 4. occupancy and 80,000 85% maintenance Totals