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    EVT Assignment

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    Sonata
    The project is behind schedule and over budget based on the cost and schedule variance calculations. The cost variance is $30,000 (actual cost of $250,000 minus planned value of $300,000), indicating costs are over budget. The schedule variance is -$20,000 (earned value of $280,000 minus planned value of $300,000), showing the project is behind schedule. With a CPI of 0.92 and SPI of 0.93, the project is expected to finish over budget according to the estimated final cost of $270,833. The project manager should alert senior management and discuss these issues with the project sponsor.

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    EVT Assignment

    Uploaded by

    Sonata
    169 views1 page
    The project is behind schedule and over budget based on the cost and schedule variance calculations. The cost variance is $30,000 (actual cost of $250,000 minus planned value of $300,000), indicating costs are over budget. The schedule variance is -$20,000 (earned value of $280,000 minus planned value of $300,000), showing the project is behind schedule. With a CPI of 0.92 and SPI of 0.93, the project is expected to finish over budget according to the estimated final cost of $270,833. The project manager should alert senior management and discuss these issues with the project sponsor.

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    Project Management EVT Calculations

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    The project is behind schedule and over budget based on the cost and schedule variance calculations. The cost variance is $30,000 (actual cost of $250,000 minus planned value of $300,000), indicating costs are over budget. The schedule variance is -$20,000 (earned value of $280,000 minus planned value of $300,000), showing the project is behind schedule. With a CPI of 0.92 and SPI of 0.93, the project is expected to finish over budget according to the estimated final cost of $270,833. The project manager should alert senior management and discuss these issues with the project sponsor.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    169 views1 page

    EVT Assignment

    Uploaded by

    Sonata
    The project is behind schedule and over budget based on the cost and schedule variance calculations. The cost variance is $30,000 (actual cost of $250,000 minus planned value of $300,000), indicating costs are over budget. The schedule variance is -$20,000 (earned value of $280,000 minus planned value of $300,000), showing the project is behind schedule. With a CPI of 0.92 and SPI of 0.93, the project is expected to finish over budget according to the estimated final cost of $270,833. The project manager should alert senior management and discuss these issues with the project sponsor.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    You are on page 1of 1

    IS4532: Project Management & Outsourcing

    Games for Kids Project


    Cost Management
    During planning, your project sponsor has asked you and your team to refine the existing
    cost estimate for the project so that there is a solid cost baseline for evaluating project
    performance. Initial estimates suggested that about half of the $500K budgeted for this
    project would go to hardware costs and the outsourced software and consulting services.
    And you found out from the schedule that you actually planned for 10.5 months to
    complete the project so 1.5 months can be used as buffer
    1. Assume you have completed six months of the project. The BAC was $500K for this
    12-month project. Also assume the following:
    2. EV= percent completed work x BAC
    PV= percent of value of total work x BAC
    The amount of work that should have been done = $300K PV
    The actual cost incurred so far = $250K AC
    The amount of work that has actually been done = $280K EV
    Using this information, find out the
    cost variance (CV)
    schedule variance (SV)
    cost performance index (CPI)
    schedule performance index (SPI)
    estimate at completion (EAC
    How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget
    or over budget? Should you alert your senior management and ask for assistance?
    Should you talk to your sponsor before the meeting to discuss this data?

    3-Nov-16
    335713547 / Prepared by Janet Yu

    Page 1 of 1

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