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    Innovation Assignment

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    Adzrul Shahkiz
    The document contains details of three project management assignments involving calculations of key earned value management metrics like budget at completion, planned value, earned value, actual cost, cost variance, schedule variance, cost performance index, schedule performance index, estimate at completion, estimate to complete and variance at completion. For each assignment, the student has calculated these metrics and analyzed the health, progress and performance of the respective projects based on the calculations.

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    Innovation Assignment

    Uploaded by

    Adzrul Shahkiz
    32 views8 pages
    The document contains details of three project management assignments involving calculations of key earned value management metrics like budget at completion, planned value, earned value, actual cost, cost variance, schedule variance, cost performance index, schedule performance index, estimate at completion, estimate to complete and variance at completion. For each assignment, the student has calculated these metrics and analyzed the health, progress and performance of the respective projects based on the calculations.

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    INNOVATION ASSIGNMENT

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    The document contains details of three project management assignments involving calculations of key earned value management metrics like budget at completion, planned value, earned value, actual cost, cost variance, schedule variance, cost performance index, schedule performance index, estimate at completion, estimate to complete and variance at completion. For each assignment, the student has calculated these metrics and analyzed the health, progress and performance of the respective projects based on the calculations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    32 views8 pages

    Innovation Assignment

    Uploaded by

    Adzrul Shahkiz
    The document contains details of three project management assignments involving calculations of key earned value management metrics like budget at completion, planned value, earned value, actual cost, cost variance, schedule variance, cost performance index, schedule performance index, estimate at completion, estimate to complete and variance at completion. For each assignment, the student has calculated these metrics and analyzed the health, progress and performance of the respective projects based on the calculations.

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    UNIVERSITI KUALA LUMPUR

    MALAYSIAN INSTITUTE OF AVIATION TECHNOLOGY

    ABB30304 PROJECT MANAGEMENT

    JANUARY 2020

    EARNED VALUE MANAGEMENT ASSIGNMENT

    NAME : MOHD ADZRUL SHAHKIZ BIN JASMAN

    STUDENT ID : 53213217129

    CLASS : 7BAV

    SESSION: JAN 2020

    LECTURERS NAME : MOHAMMAD FAKHRULNIZAM BIN MOHAMMAD


    QUESTION 1:

    As a project manager responsible for the establishment of exhibition booths plaza in the upcoming
    Langkawi International Maritime & Aerospace, you needed to ensure that the program is on track.
    Refurbishment and establishment of exhibition area is expected at the cost of RM500 per square
    feet. The total exhibition area that needs to be established is 1,000 square feet. Based on your past
    experience, the contractor able to complete about 100 square feet per week.

    After 4 weeks, you have realized that the project is 45% complete and have spent RM 250,000.

    Determine the value for each of the terms below:

    1. Budget At Completion

    2. Planned Value

    3. Earned Value

    4. Actual Cost

    5. Cost Variance

    6. Schedule Variance

    7. Cost Performance Index

    8. Schedule Performance Index

    9. Estimate At Completion

    10. Estimate To Complete

    11. Variance At Completion


    Q1 Answer

    1) BAC : RM 500 X 1,000 Square feet

    = RM 500,00

    2) PV : 40% X RM 500,000

    = RM 200, 000

    3) EV : 45% X RM 500,000

    = RM 225,000

    4) AC : RM 250,000 at 45% completed work.

    5) CV : EV – AC

    : RM 225, 000 – RM 200,000

    = -RM 25,000 (Over planned cost)

    6) SV : EV – PV

    : RM 225,000 – RM 200,000

    = RM 25,000

    7) CPI : EV/AC

    : RM 225,000 / RM 250,000

    = 0.9 (Over planned cost)

    8) SPI : EV/PV

    : RM 225,000 / RM 200,000

    = 1.125 (Ahead of schedule)

    9) EAC : AC + [(BAC-EV)/(CPI X SPI)]

    : RM 250,000 + [( RM 500,000 – RM 225,000) / ( 0.9 X 1.125)]

    = RM 521,604.938

    10) ETC : EAC – AC

    : RM 521,604.938 – RM 250,000 = RM 271, 604.938


    11) VAC : BAC – EAC

    : RM 500,000 – RM 521,604.938

    = - RM 21,604.94 (Over planned cost)


    QUESTION 2:

    Azhari have been tasked by his manager to monitor the installation of 200 In-Flight Entertainment
    (IFE) for 5 aircrafts. The project’s approved budget is RM500,000 and the approved schedule is 14
    weeks. After 8 weeks, he has 110 of IFE to be completed and the present spending of the project is
    RM 250,000.

    As one of the top managements in the company, are you happy with the progress of the project?
    Why?

    Before making my decision, let’s do the calculation regarding this project which is shown below

    1) BAC : RM 500, 000

    2) PV : 57.14% X RM 500,00

    = RM 285,700

    3) EV : 89% X RM 500,000

    = RM 445,000

    4) AC : RM 250,000 at 89% completed work

    5) CV : EV – AC

    : RM 445,000 – RM 250, 00

    : RM 195,000 (Under Planned Cost)

    6) SV : EV – PV

    : RM 445,000 – RM 285,700

    = RM 159,300

    7) CPI : EV/AC

    : RM 445,000 / RM 250,000

    = 1.78 (Under Planned Cost)

    8) SPI : EV/PV

    : RM 445,000 / RM 285,700 = 1.56 (Ahead of Schedule)


    9) EAC : BAC/CPI

    : RM 500,00 / 1.78

    = RM 280,898.876

    10) ETC : EAC – AC

    : RM 280,898.876 – RM 250,000

    = RM 30,898.876

    11) VAC : BAC – EAC

    : RM 500,000 – RM 280,898.876

    = RM 219,101.124

    From this calculation, as one of the top management I am happy with project progress. We can see
    that both Cost Variance and Cost Performance Index shown is under planned cost which basically
    mean that the project run by using minimum cost. Not only that, the Schedule Performance Index
    shown as ahead of schedule as the result. Therefore, the project can be completed before the
    estimated duration. The extra budgets and time can be used for others project.
    QUESTION 3:

    After five years working, you have been appointed as the Program Manager to manage the
    construction of a new KLIA3 terminal. There are five project managers reporting directly to you with
    several projects assigned to each of project manager. Each project manager assigned part of the
    whole project scope to be implemented independently. The total duration approved to complete all
    works is 2 years and the total approved budget is RM10,000,000. At the end of the first year, you
    have to ensure that the budget has been utilised RM6,000,000 worth of work however, the project is
    only 50% complete. Actual costs reported by each project manager for the first year is as follows:

    Project manager 1: RM 200,000

    Project manager 2: RM 1,200,000

    Project manager 3: RM 1,800,000

    Project manager 4: RM 500,000

    Project manager 5: RM 900,000

    In your opinion, does the project costs and duration is managed properly. As a program manager,
    will you pursue the project or conclude the project at the point of review?

    Before I give my opinion on this project, let’s take a look at the calculation for this project as shown
    below

    1) BAC : RM 10,000,000

    2) PV : RM6,000,000

    3) EV : 50% X RM 10,000,00

    = RM 5,000,000

    4) AC : RM 4,600,000

    5) CV : EV – AC

    :RM 5,000,00 – RM 4,600,00

    = RM 400,00 ( Under Planned Cost)


    6) SV : EV – PV

    : RM 5,000,00 – RM 6,000,000

    = -RM 1,000,000

    7) CPI : EV/AC

    : RM 5,000,000 / RM 4,600,000

    = 1.087 (Under Planned Cost)

    8) SPI : EV/PV

    : RM 5,000,000 / RM 6,000,000

    = 0.833 (Behind Schedule)

    9) EAC : BAC/CPI

    : RM 10,000,000 / 1.087

    = RM 9,199,632.015

    10) ETC : EAC – AC

    : RM 9,199,632.015 – RM 4,600,000

    = RM 4,599,632.015

    11) VAC : BAC – EAC

    : RM 10,000,000 – RM 9,199,632.015

    = RM 800,367.985

    Based on the calculation, my opinion for this project, the project cost is being managed well as the
    Actual Cost for the first year which is within the Planned Value which is RM 6,000,000 at the end of
    the first year. Therefore the project has extra of RM 1,400,000 that can be brought to second year of
    the project. As for the Schedule Performance Index shows that the project is Behind Schedule. As a
    project manager, I will try to pursue the project as the project still has chances to complete on given
    estimated duration. Besides that, the additional budget that has been brought from first year can be
    used to ease and settle any circumstances to complete the project within the given duration.

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