Chapter 7 Exercises Name __Sherry Smith____________ 1. Given the following information for a one-year project‚ answer the following questions. Recall that PV is the planned value‚ EV is the earned value‚ AC is the actual cost‚ and BAC is the budget at completion. PV ¼ $ 23‚000 EV ¼ $ 20‚000 AC ¼ $ 25‚000 BAC ¼ $ 120‚000 a. What is the cost variance‚ schedule variance‚ cost performance index (CPI)‚ and schedule performance index (SPI) for the project? Cost Variance = EV-AC = $20
Premium Costs Cost Project management
Incorporating Resource Capabilities to Quality in Earned Value Management (EVM) Gresola‚ Sir Charles M. and So‚ Jemuell Rei B. BS Industrial Management Engineering minor in Information Technology De La Salle University I. Introduction Earned Value Management (EVM) is a proven technique or tool that is widely recognized and accepted to help in managing projects since it lets the manager combine schedule performance and cost performance to answer the question “What did we get from the money
Premium Project management Management
Earned Value Analysis (EVA) takes consideration of the following in a project (Context for the plant & actual expenditure‚ integrates the project scope‚ schedule and resource characteristics into a comprehensive set of measurements. The use of earned value analysis can be categorized in the following ways: Financial Databases for EVA Earned Value Definitions Establishing Earned Value Budgets Determining Earned Value Variance Analysis‚ and Forecasting There are three important sources that
Premium Project management Time Present
Earned Value Management Earned value management is the project management process or a technique. It is a value assigned to work which is accomplished during a particular time period. Earned Value Management (EVM) is a project planning and control approach which provides cost and schedule performance measurements. It compares actual accomplishment of scheduled work and associated cost against an integrated schedule and budget plan. And the value can be measured in any appropriate unit of dollars
Premium Project management Management
5-1 Earned Value Calculation 1. PV-BCWS=$3607.14 EV-BCWP=$3593.34 (.98 x 3666.67) CPI x AC AC-ACWP=$3666.67 (3593.34/.98) EV/CPI 2. SV= -13.8 (3593.34 – 3607.14) EV – PV CV=73.33 (3593.34 – 3666.67) EV – AC SPI=1.0 (3593.34/3607.14) EV/PV CPI=.98 (3593.34/3666.67) EV/AC 3. According to these calculations‚ the schedule variance is running late and the cost variance did not run over. The SPI is 1.0 which means that it is running on schedule. The CPI is .98 which is over budget by
Premium Project management Cost Cost overrun
Shiladitya Goswami K – 44‚ Sector – 25‚ Jalvayu Vihar‚ Noida (U.P); Phone: 09836453570(W.B); 09810748528(Del) Email: shiladityagoswami@gmail.com WORK EXPERIENCE ➢ Currently working in the Corporate Legal Department of Eastern Coalfields Limited a subsidiary of Coal India Ltd (June 2009 Onwards) [Brief Description: Planning Legal Strategy‚ Managing Litigation/Other Court related matters‚ Handling Industrial Relations; Liaison with Advocates‚ Legal vetting of documents including Power
Premium Law Delhi Lawyer
Thompson PMB410 Professor Dekker 03/22/2013 EVM ANSI 748-B Earned Value Management System (EVMS) guiding principles incorporate top business practices to give strong benefits for program or enterprise planning and control. The process includes the incorporation of program scope‚ schedule‚ and cost objectives‚ establishment of a baseline plan for success during the execution of a program. The structure provides a solid foundation for problem recognition‚ corrective actions‚ and management replanning
Premium Project management Earned value management
VAC = BAC –EAC €10‚ 000 – €11‚ 507 = €1‚ 507 (extra money required) If you end up spending more than your budget‚ the VAC will be negative… just like CV and SV! Finding missing information Let’s say you’re given... … the CPI and Earned Value‚ and you want to figure out the actual costs. Why would you ever see this? Sometimes it’s hard to figure out how important a project is unless you know how much it’s really spending—if a project is more expensive‚ people in your company probably
Premium Cost Project management Cost overrun
New plant in Huntsville‚ Alabama Project Risk‚ Communication Plan & Documentation Name: Olatunbosun Osuro Instructor: Gloria Durham PM 586 Project management systems Email: bosun.opere@gmail.com Phone: 612-220-0454 Project Communication Plan Project communication plan defines the generation and distribution of a project documents among project stakeholders throughout the project (Clements‚ 2009). Project communication plan will allow stakeholders to have a medium of sharing information
Premium Project management Management
Implementing Best Practice in Hospital Project Management Using EVPM Methodology By: Raf Dua Divisional General Manager Micro Planning International Australia Implementing Best Practice in Hospital Project Management Using EVPM Methodology 1. Front matter 1.1. Copyright notice Copyright 2000 Micro Planning International Australia Copyright 2000 Raphael M. Dua This document is copyright. Other than for the purpose of and subject to the conditions prescribed under the Copyright
Premium Health care Patient Health care provider