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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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