Question
Project:Construction of anewofficebuildinginParramatta Scope:Constructionofa10-storyofficebuildingwithatotalfloorarea of20,000square meters Schedule:The projectisexpectedtotake18monthstocomplete, withaplannedstartdate of January 1st 2023 and a planned end date of June 30th 2024. Budget:Thetotalbudgetfortheprojectis$50million. Assumptions: Theprojectwill
Project:Construction of anewofficebuildinginParramatta
Scope:Constructionofa10-storyofficebuildingwithatotalfloorarea of20,000square meters
Schedule:The projectisexpectedtotake18monthstocomplete, withaplannedstartdate of January 1st 2023 and a planned end date of June 30th 2024.
Budget:Thetotalbudgetfortheprojectis$50million. Assumptions:
Theprojectwill bedividedinto6phases, eachtaking 3monthstocomplete.
Tasks 1:
Theprojectmanagerwilluseearnedvaluemanagement(EVM)totracktheproject's progress.
Question1.1:UseEVMtotracktheproject'sprogressandcalculatethefollowingmetrics (table 1):
- Plannedvalue(PV)
- Earnedvalue(EV)-calculatebasedonthe%completion
- Actualcost(AC)-makereasonableassumptionoftheactual cost yourself
- Schedulevariance (SV)
- Costvariance(CV)
- Scheduleperformanceindex(SPI)
- Costperformanceindex(CPI)
Question1.2:AnalysetheEVMdatatoidentifyanyscheduleorcostvariances, and recommend corrective actions if necessary.
Table1:EVManalysis
Variance | Performance Index | |||||||||||||
WBS Element | March | June | Sep | Dec | March | June | Budget (PV) | % completion | Earned Value(EV) | Actual Cost (AC) | ScheduleSV | CostCV | ScheduleSPI | CostCPI |
1. Initiation | 2,000,000 | 100% | 2,500,000 | |||||||||||
2. Planning | 4,600,000 | 85% | ||||||||||||
3.Design | 2,400,000 | 80% | ||||||||||||
4. building construction | 40,000,000 | 75% | ||||||||||||
5.testingand commisioning | 920,000 | 80% | ||||||||||||
4.occupancyand maintenance | 80,000 | 85% | ||||||||||||
Totals |
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