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You are the project manager for Project XYZ, which is to construct 200 wooden benches for the upcoming Founders' Memorial at the Bay East Garden
You are the project manager for Project XYZ, which is to construct 200 wooden benches for the upcoming Founders' Memorial at the Bay East Garden of Gardens by the Bay with a $1,200,000 developmental effort. Based on the initial requirements, the benches should be waterproof and "rot-proof". The design of the benches should also be aligned with the four different zones of the memorial. You have three teams of workers which will work for eight months for a total of 600 hours. According to the project schedule, your team should be done with 68% of the work. As of today, the project is 55% complete, and 60% of the budget has been used. Question 4a Determine the Planned Value, Earned Value and Actual Cost for Project XYZ. (6 marks) Question 4b Determine the Schedule Variance for the project. (2 marks) Question 4c Determine the Cost Variance for the project. (2 marks) Calculate the Schedule Performance Index for the project (rounded to 2 significant figures). (2 marks) Question 4e Calculate the Cost Performance Index for the project (rounded to 2 significant figures). (2 marks) Question 4f Your project sponsor has asked you for the current project status. Describe the project status using Earned Value Management methodology. (4 marks) Question 4g Identify and illustrate FOUR (4) methods you can use to improve the Schedule Performance Index of your project. (12 marks)
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