Pm 592 Quiz 2

1. A-crash cost per day per activity is as follows A= $25 B=$75 C=$150 D=$25 B. Activities B,D should be crashed to meet the deadline C. The extra cost associated to crash the project is crash cost of B$75+crash cost of D$25=$100 2. A. Some of the basic requirements for the project plan in order for EVM to be able to work are: – A project plan that identifies work to be accomplished, a value of planned work or Planned Value (PV) or Budgeted Cost of Work Scheduled (BCWS), and defined Earned Value (EV) or Budgeted Cost of Work Performed (BCWP).

EVM implementations can include indicators and forecasts of cost performance (over budget or under budget) and schedule performance (behind schedule or ahead of schedule). However, the basic requirements of using EVM is that it has progress using PV and EV. B. It is a process used to find variances in projects based on the comparison of worked performed and work planned. EVM is used on the cost and schedule control and can be very useful in project forecasting.

Earned Value Management will let you know the actual state of the project by comparing your current project performance against your plan. Knowing the project’s performance will let you take actions needed to ensure that the project is completed on time and within budget. Like any tool, in order for EVM to be successful, it very important that it is used correctly. 3. A. The resource conflict that occurs is between activity C and D between days 5-9. Both of these tasks require 1 design engineer during overlapping time periods.

B. To resolve the conflict i would Early start activity D and late start activity C based on slack that way the design engineer could focus on each activity without splitting them. This will not effect the project duration because neither one of these tasks are on the critical path. So using slack we will make up for the two overlapping day by manipulating the slack of one day for each task. 5. A. Resource allocation is used to assign the available resources in an economic way.

It is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time Resource leveling is a technique used to examine unbalanced use of resources over time in a project, and for resolving over-allocations or conflicts. The difference is that resource allocation assigns the resources, while leveling resolves conflicts. If two tasks start at the same time and require the same resource we can level these tasks to meet certain criteria.

B. Five benefits of resource leveling are: 1. When resources are used on a more constant basis, they require less management. 2. It helps avoid over allocation 3. It ensures that resource availability never falls below resource demand 4. It may enable project managers to use a just-in-time inventory policy in place of expensive resources. 5. Helps the morale of the project team as well. And quality of the products when they are able to deliver on time or finish a project on time and not over budget.

The following data were obtained from an Information Systems project to upgrade and expand a Local Area Network: Activity    Duration    Predecessors      Task Budget A             3 Days             —                         $4,920 B             6 Days             —                         $7,680 C             3 Days             A                          $15,140 D             2 Days             B                          $4,980 E             3 Days B                          $5,630 F             2 Days             C, D                      $2,270

At the end of Day 7, the status of the project is as follows: Activity    % Complete        Actual Cost A                100%                     $4,200 B                100%                     $8,740 C                100%                     $18,250 D                  55%                     $2,600 E                  10%                     $560 F                    0%                     $0 (a) Calculate the Cost and Schedule Variances and Indexes for tasks A, B, C, D, and E. (b) As project manager, write a brief summary of the status of the project at this time (Points : 1 PVEVSVCV

A4,920492004920-4200= 720 B7,6807,68007680-8740= -1,060 C15,14015,140015,140-18,250= -3,110 D2,4902,7392492,739-2600=139 E1,857. 9563-1,294(563-560)= 3 CPISPI A4920/4200=1. 1714920/4920=1 B7680/8740=. 8797680/7680=1 C15140/18250=. 8315140/15140=1 D2739/2600=1. 0532739/2490=1. 376 E563/560=1. 005563/1857. 9= . 1 Based on my calculations task E is late based on the schedule variance. Based on the cost variance tasks B and C are overrun. Based on the CPI, tasks A, D, E are under budget. And based on the SPI, task E is behind schedule while tasks A,B,C were on schedule, and task D is ahead of schedule