You have a project to be completed in 12 months, and the total cost of the project is 100,000 USD. Six months have passed and 60,000 USD has been spent, but on closer review you find that only 40% of the work has been completed so far. Your project is expected to perform with the same cost performance. Find the Estimate to Complete (ETC) and EAC for this project.
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- Your vice president asked you what the Estimate at Completion (EAC) will be for a small project you are working on. You were given a budget of S50,000, and to date you have spent $40,000 but only completed $30,000 worth of work. You are sure the future work will be accomplished at the planned rate. What is the EAC ?You are developing a performance progress report for a project you are managing. The following time-phased budget was developed earlier in the planning stage and is being used as the standard against which the project performance is measured. Work Packages W1 W2 W3 W4 W5 W6 W7 W8 W9 W10 W11 A 4 10 6 B 1 6 8 C 5 6 10 8 3 Total 4 10 6 1 6 8 5 6 10 8 3 At the end of Week 8, activity "C" is 50% complete. What is the Earned Value of this activity? Use two decimal places in your calculations.The decision was made by JMP management that a certain critical development in the overall project will be subcontracted-out to a vendor. JMP has issued a six-month cost plus fixed fee contract for that development, and you are the vendor's project manager. The approved JMP budget for your development is $500,000. A recent Earned Value Analysis that your firm (the vendor) has done shows that you will complete the project four weeks ahead of time, thus depriving your firm of $80,000 of billable time. Among your options are: 1. Since it was the approved budget, go ahead and bill JMP for the entire $500.000. 2. Inform JMP of the project status and completion date, and ask if they'd like to add any features to account for the monies spent. 3. Inform JMP of the project status and completion date. 4. Bill JMP for the $500,000 by adding more work at the end of the project.
- Give an explanation of how earned value management (EVM) may be used to keep expenses under control and monitor the overall effectiveness of a project, and then hypothesise as to why it is not utilised more often. How can one determine if the data for cost variation, schedule variance, cost performance index, and schedule performance index are healthy or unhealthy? What are some basic rules of thumb?Calculate the cost budget for the project below with a contingency reserve of 20% is applied to the cost estimate and 4% management reserve is applied to the cost baseline. Control Account Cost /$ Project Management 1,000,000 Design 4,000,000 Execution 10,200,000 Certification 600,000 Marketing 4,500,000 Launch 320,000 You have a budget at completion of $2500. You had planned to have $2200 worth of work accomplished by now. However, you have just found out that you are only 60% complete with the task. What is your SV? A project was budgeted at $1,000,000. Meanwhile, the project is executed, and the following current figures have been assessed: PV: $500,000 EV: $450, 000 AC: $550, 000 Assuming that the cost variance was…In a recent review meeting, the client has insisted you complete the project on time. You would like to get the Estimate at Completion for your project, so you perform Earned Value analysis and get the following data: the value of the completed work is $176,500; you have spent $223,500; and the planned value is $229,100. The initial budget of the project is $419,500. What is EAC? Your answer should be rounded to the nearest whole number, for example 123,456.73 should be rounded to 123,457. A
- given the following information for a 1-year project, answer the following questions. Assume you have actual and earned value data at the end of the second month. Recall that PV is the plan value, Evie is the earned value, AC is the actual cost, and BAC is the budget at completion.pv =$ 23,000ev = 20,000ac= 25,000bac = 130,000a. what is the cost variance, schedule variance, cost performance index CPI and schedule performance index SPI for the project?B. how is the project progressing? Is it ahead of schedule or behind schedule? Is it under budget or over budget?C. use the CPI to calculate the estimate at completion EAC for this project.d. use the SPI to estimate how long it will take to finish this project.e. sketch the earned value chart for this project, use the figure below as a guide. Assume the data for month one is half of the values given for Pv, Ev and ac at the end of month 2Using your results from Problem 6,(a) Calculate the probability that the project will be completedin 38 weeks.(b) Calculate the probability that the project will be completedin 42 weeksA company currently in the 3rd month of a 2 year project. The financial committee would like to have a cost status report. At this stage of the project there is an estimated planned value of 37500. The rate of performance is determined at 95% and the current costs have accumulated to 400000. Determine the EVM performance
- Assume we are planning to develop a room reservation system that is estimated to have 400 story points of features. Let’s say our team’s velocity on two-week sprints ranges between 20 and 25 story points. Our project will start on Dec 1, 2021. If our customer wants the project to be in production by end of June 22, how likely will the project be successful? Why? Show your calculations.Use the project performance metrics, Expected Time to complete (ETC) and Estimate at Completion (EAC) typical and atypical variances, to compute the final cost of a project based on the following data: Cumulative Actual Cost = RM9000 Budget at Completion (BAC) = RM50000 Cumulative Earned Value = RM12500A project management plan is a document used to coordinate all project planning documents and to assist guide the project’s execution and control. Plans created in the other knowledge areas are the subsidiary parts of the overall project management plan and provide more detailed information about that knowledge. With regards to the above information examine the inputs into quality planning.