Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Project Name: ABC Office Building Construction - Total Budget (BAC - Budget at Completion): $200,000 - Planned Duration: 12 months - Status Date: End of
Project Name: ABC Office Building Construction - Total Budget (BAC - Budget at Completion): $200,000 - Planned Duration: 12 months - Status Date: End of Month 6 (You are halfway through the project) - Number of Work Packages: 10 Data at the Status Date (End of Month 6): - Planned Value (PV): $100,000 - Earned Value (EV): $80,000 - Actual Cost (AC): $110,000 Objective: Provide a written analysis of the project's performance based on the calculated metrics. Tasks: 1). Calculate the following Earned Value Management (EVM) metrics for the XYZ Office Building Construction project at the end of Month 6: - Cost Variance (CV) - Schedule Variance (SV) - Cost Performance Index (CPI) - Schedule Performance Index (SPI) - Estimate at Completion (EAC) assuming the current performance will continue - New completion date - Estimate to Completion (ETC) - Variance at Completion (VAC) = BAC - EAC 2). Interpret the calculated metrics and provide insights into the project's performance at the halfway point. Is the project on budget, ahead of schedule, or behind schedule? What corrective actions might be necessary
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started