The Kingsville Real Estate Co (KREC) owns 800 acres of undeveloped land on a scenic area In the past, little or no regulation was applied to new developments near the lake As a result, lakeshores are now dotted with many vacation homes Lack of sewage services, especially septic tanks, mostly improperly installed, are in extensive use Seepage from septic tanks causes a severe water pollution problem To curb further degradation in the quality of water, the Town of Kingsville officials approved strict regulations applicable to all future developments 1 Only single , double , and triple house units can be constructed, with the single house units accounting for at least 50 of the total 2 To limit the number of septic tanks, minimum lot sizes of 2, 3 and 4 acres are required for single , double , and triple house units, respectively 3 Multiple recreation areas of 1 acre each must be established at the rate of at least one recreational area per 200 houses 4 To preserve the ecology of the lake, underground water should not be pumped for house or garden use The president of KREC is studying the possibility of developing company's 800 acres The new development will include single , double , and triple house units It is estimated that 15 of the acreage will be consumed for the openings, streets, and easements for utilities KREC estimates the returns from the different housing units as (Table 3) Table 3 Cost Variates Housing unit Single Double Net return per unit' ($) 10,000 12,000 INote Water service charges are included in the net return per unit Triple 15,000 The cost of connecting water service to the area is proportionate to the number of houses constructed However, the City stipulates that a minimum of $100,000 must be collected from water service charges for the project to be economically feasible Additionally, the expansion of the water system beyond its present capacity is limited to 200,000 gallons per day during peak periods Following data summarize the cost of connecting water service as well as the water consumption assuming an average size family (Table 4) Table 4 Cost Variates Housing unit Single Double Triple Recreation Water service charge per unit ($) 1000 1200 1400 800 (per acre) Water consumption per unit (gal day) 400 600 840 450 (per acre) KREC wants to maximize their profits a) Identify the decision variables (3 Marks) b) What is the objective function (2 Marks) c) What are the constraints (4 Marks) d) Site preparation work for this project is currently underway The site preparation work package is estimated 12,000 man hours calculated at $60 00 per hour Material costs were estimated as $100,000 The estimated duration was 6 months The amount of the workload and material consumption for each month was estimated as 10 , 20 , 30 , 20 , 10 , and 10 At the end of the 3rd month, Earned Value Analysis was performed and realized that only 40 of the work was completed 45 of the man hours were spent by the end of the 3rd month Moreover, 40 of the materials were used by the end of the 3rd month Approved changes in the 2nd month cost an additional $ 15,000 Provide answers for the following questions based on the Earned Value Analysis at the end of 3rd month i ii iii iv V vi vii viii What is the Budget at Completion (i e , full project completion) (2 Marks) What is the Budgeted Cost of Work Scheduled (2 Marks) What is the Budgeted Cost of Work Performed (2 Marks) What is the Actual Cost of Work Performed (2 Marks) What is the Schedule Variance (2 Marks) What is the Cost Variance (2 Marks) What is the Estimate at Completion (1 Mark) What are your observations about the project's performance (1 Mark) The Kingsville Real Estate Co (KREC) owns 800 acres of undeveloped land on a scenic area In the past, little or no regulation was applied to new developments near the lake As a result, lakeshores are now dotted with many vacation homes Lack of sewage services, especially septic tanks, mostly improperly installed, are in extensive use Seepage from septic tanks causes a severe water pollution problem To curb further degradation in the quality of water, the Town of Kingsville officials approved strict regulations applicable to all future developments 1 Only single , double , and triple house units can be constructed, with the single house units accounting for at least 50 of the total 2 To limit the number of septic tanks, minimum lot sizes of 2, 3 and 4 acres are required for single , double , and triple house units, respectively 3 Multiple recreation areas of 1 acre each must be established at the rate of at least one recreational area per 200 houses 4 To preserve the ecology of the lake, underground water should not be pumped for house or garden use The president of KREC is studying the possibility of developing company's 800 acres The new development will include single , double , and triple house units It is estimated that 15 of the acreage will be consumed for the openings, streets, and easements for utilities KREC estimates the returns from the different housing units as (Table 3) Table 3 Cost Variates Housing unit Single Double Net return per unit' ($) 10,000 12,000 INote Water service charges are included in the net return per unit Triple 15,000 The cost of connecting water service to the area is proportionate to the number of houses constructed However, the City stipulates that a minimum of $100,000 must be collected from water service charges for the project to be economically feasible Additionally, the expansion of the water system beyond its present capacity is limited to 200,000 gallons per day during peak periods Following data summarize the cost of connecting water service as well as the water consumption assuming an average size family (Table 4) Table 4 Cost Variates Housing unit Single Double Triple Recreation Water service charge per unit ($) 1000 1200 1400 800 (per acre) Water consumption per unit (gal day) 400 600 840 450 (per acre) KREC wants to maximize their profits a) Identify the decision variables (3 Marks) b) What is the objective function (2 Marks) c) What are the constraints (4 Marks) d) Site preparation work for this project is currently underway The site preparation work package is estimated 12,000 man hours calculated at $60 00 per hour Material costs were estimated as $100,000 The estimated duration was 6 months The amount of the workload and material consumption for each month was estimated as 10 , 20 , 30 , 20 , 10 , and 10 At the end of the 3rd month, Earned Value Analysis was performed and realized that only 40 of the work was completed 45 of the man hours were spent by the end of the 3rd month Moreover, 40 of the materials were used by the end of the 3rd month Approved changes in the 2nd month cost an additional $ 15,000 Provide answers for the following questions based on the Earned Value Analysis at the end of 3rd month i ii iii iv V vi vii viii What is the Budget at Completion (i e , full project completion) (2 Marks) What is the Budgeted Cost of Work Scheduled (2 Marks) What is the Budgeted Cost of Work Performed (2 Marks) What is the Actual Cost of Work Performed (2 Marks) What is the Schedule Variance (2 Marks) What is the Cost Variance (2 Marks) What is the Estimate at Completion (1 Mark) What are your observations about the project's performance (1 Mark)

Question

The Kingsville Real Estate Co  (KREC) owns 800 acres of undeveloped land on a scenic area  In the past, little or no regulation was applied to new developments near the lake  As a result, lakeshores are now dotted with many vacation homes  Lack of sewage services, especially septic tanks, mostly improperly installed, are in extensive use  Seepage from septic tanks causes a severe water pollution problem  To curb further degradation in the quality of water, the Town of Kingsville officials approved strict regulations applicable to all future developments  1  Only single , double , and triple house units can be constructed, with the single house units accounting for at least 50  of the total  2  To limit the number of septic tanks, minimum lot sizes of 2, 3 and 4 acres are required for single , double , and triple house units, respectively  3  Multiple recreation areas of 1 acre each must be established at the rate of at least one recreational area per 200 houses  4  To preserve the ecology of the lake, underground water should not be pumped for house or garden use  The president of KREC is studying the possibility of developing company's 800 acres  The new development will include single , double , and triple house units  It is estimated that 15  of the acreage will be consumed for the openings, streets, and easements for utilities  KREC estimates the returns from the different housing units as (Table 3)  Table 3  Cost Variates Housing unit Single Double Net return per unit' ($) 10,000 12,000 INote  Water service charges are included in the net return per unit  Triple 15,000 The cost of connecting water service to the area is proportionate to the number of houses constructed  However, the City stipulates that a minimum of $100,000 must be collected from water service charges for the project to be economically feasible  Additionally, the expansion of the water system beyond its present capacity is limited to 200,000 gallons per day during peak periods  Following data summarize the cost of connecting water service as well as the water consumption assuming an average size family (Table 4)  Table 4  Cost Variates Housing unit Single Double Triple Recreation Water service charge per unit ($) 1000 1200 1400 800 (per acre) Water consumption per unit (gal day) 400 600 840 450 (per acre) KREC wants to maximize their profits  a) Identify the decision variables  (3 Marks) b) What is the objective function  (2 Marks) c) What are the constraints  (4 Marks) d) Site preparation work for this project is currently underway  The site preparation work package is estimated 12,000 man hours calculated at $60 00 per hour  Material costs were estimated as $100,000  The estimated duration was 6 months  The amount of the workload and material consumption for each month was estimated as 10 , 20 , 30 , 20 , 10 , and 10   At the end of the 3rd month, Earned Value Analysis was performed and realized that only 40  of the work was completed  45  of the man hours were spent by the end of the 3rd month  Moreover, 40  of the materials were used by the end of the 3rd month  Approved  changes in the 2nd month cost an additional $ 15,000  Provide answers for the following questions based on the Earned Value Analysis at the end of 3rd month  i  ii  iii  iv  V  vi  vii  viii  What is the Budget at Completion (i e , full project completion)    (2 Marks) What is the Budgeted Cost of Work Scheduled    (2 Marks) What is the Budgeted Cost of Work Performed    (2 Marks) What is the Actual Cost of Work Performed    (2 Marks) What is the Schedule Variance    (2 Marks) What is the Cost Variance    (2 Marks) What is the Estimate at Completion    (1 Mark) What are your observations about the project's performance    (1 Mark) The Kingsville Real Estate Co  (KREC) owns 800 acres of undeveloped land on a scenic area  In the past, little or no regulation was applied to new developments near the lake  As a result, lakeshores are now dotted with many vacation homes  Lack of sewage services, especially septic tanks, mostly improperly installed, are in extensive use  Seepage from septic tanks causes a severe water pollution problem  To curb further degradation in the quality of water, the Town of Kingsville officials approved strict regulations applicable to all future developments  1  Only single , double , and triple house units can be constructed, with the single house units accounting for at least 50  of the total  2  To limit the number of septic tanks, minimum lot sizes of 2, 3 and 4 acres are required for single , double , and triple house units, respectively  3  Multiple recreation areas of 1 acre each must be established at the rate of at least one recreational area per 200 houses  4  To preserve the ecology of the lake, underground water should not be pumped for house or garden use  The president of KREC is studying the possibility of developing company's 800 acres  The new development will include single , double , and triple house units  It is estimated that 15  of the acreage will be consumed for the openings, streets, and easements for utilities  KREC estimates the returns from the different housing units as (Table 3)  Table 3  Cost Variates Housing unit Single Double Net return per unit' ($) 10,000 12,000 INote  Water service charges are included in the net return per unit  Triple 15,000 The cost of connecting water service to the area is proportionate to the number of houses constructed  However, the City stipulates that a minimum of $100,000 must be collected from water service charges for the project to be economically feasible  Additionally, the expansion of the water system beyond its present capacity is limited to 200,000 gallons per day during peak periods  Following data summarize the cost of connecting water service as well as the water consumption assuming an average size family (Table 4)  Table 4  Cost Variates Housing unit Single Double Triple Recreation Water service charge per unit ($) 1000 1200 1400 800 (per acre) Water consumption per unit (gal day) 400 600 840 450 (per acre) KREC wants to maximize their profits  a) Identify the decision variables  (3 Marks) b) What is the objective function  (2 Marks) c) What are the constraints  (4 Marks) d) Site preparation work for this project is currently underway  The site preparation work package is estimated 12,000 man hours calculated at $60 00 per hour  Material costs were estimated as $100,000  The estimated duration was 6 months  The amount of the workload and material consumption for each month was estimated as 10 , 20 , 30 , 20 , 10 , and 10   At the end of the 3rd month, Earned Value Analysis was performed and realized that only 40  of the work was completed  45  of the man hours were spent by the end of the 3rd month  Moreover, 40  of the materials were used by the end of the 3rd month  Approved  changes in the 2nd month cost an additional $ 15,000  Provide answers for the following questions based on the Earned Value Analysis at the end of 3rd month  i  ii  iii  iv  V  vi  vii  viii  What is the Budget at Completion (i e , full project completion)    (2 Marks) What is the Budgeted Cost of Work Scheduled    (2 Marks) What is the Budgeted Cost of Work Performed    (2 Marks) What is the Actual Cost of Work Performed    (2 Marks) What is the Schedule Variance    (2 Marks) What is the Cost Variance    (2 Marks) What is the Estimate at Completion    (1 Mark) What are your observations about the project's performance    (1 Mark)

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The Kingsville Real Estate Co. (KREC) owns 800 acres of undeveloped land on a scenic area. In the past, little or no regulation was applied

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