All of you have had at least an introduction to earned value management in the project management fundamentals course. Many of you may have had the opportunity to use earned value management in your professional careers. In practice, most EVM analysis results are generated by scheduling software or other applications. As a project manager, you must have a good handle on the concepts and be able to verify the accuracy of EVM analysis results.
In this assignment, you will have an opportunity to brush up and expand upon your EVM knowledge and skills by applying EVM concepts to a practical problem. THIS ASSIGNMENT REQUIRES A MANUAL ANALYSIS – DO NOT USE MICROSOFT PROJECT.
Your project consists of seven activities shown in the table below, along with: (1) planned start and finish dates; (2) activity budgets; and (3) earned value (EV) accrual rules from you project cost management plan.
The project sponsor wants you (the PM) to present a project cost and schedule performance assessment using data through Friday, July 29, 2016. You have collected the following information:
For activity 1, three equally-valued gates have been established and all gates are complete as of July 29, 2016.
For activity 3, five milestones have been established with the following values: (1) milestone 1 – 10%; milestone – 20%; milestone 3 – 15%; milestone 4 -20%; milestone 5 – 35%. Four of the milestones are complete as of July 29, 2016.
For activity 4, four equally values gates have been established. As of July 29, 2016 none of the gates have been reached but the activity owner estimates 30% of the work required to reach the first gate has been accomplished.
Show all work. Round dollar values to the nearest dollar. Calculate all other variables to three decimal places.
|Activity||Planned Value (PV)||Earned Value (EV)||Actual Cost (AC)|
|Activity||Schedule Variance (SV)||Schedule Performance Index (SPI)||Cost Variance (CV)||Cost Performance Index (CPI)|
** Please see attachment**