Earned value management is a systematic approach, Project Management

Assignment Help:

Question:

(a) Earned Value Management is a systematic approach to the integration and measurement of cost, schedule, and technical accomplishments in a project. List the benefits associated with this method.

(b) PK Motors Ltd embarked on a pilot project to produce 2000 units of a new model vehicle. The total cost of production is estimated at $27m and the project should be completed in 30 weeks. The rate of project progress is expected to be uniform and linear. At the end of week 18, the actual cost of work performed (ACWP) amounted to $17.1m and the number of cars produced was 600 units. As a project manager, you are requested to report the project status. Your answer should focus on the following:

(i) A graphical presentation of the project status
(ii) Cost Variance (CV)
(iii) Schedule Variance (SV)
(iv) Cost Performance Index (CPI)
(v) Schedule Performance Index (SPI)
(vi) Estimate To Complete (ETC)
(vii) Estimate At Completion (EAC)
(viii) Estimated time to complete

Consider the results of the Earned Value Analysis and briefly state whether the project is ahead or behind schedule and whether it is over or under budget.


Related Discussions:- Earned value management is a systematic approach

Define inventory procurement and inventory carrying cost, Define the invent...

Define the inventory procurement cost and inventory carrying cost. Inventory Procurement Cost and Inventory Carrying Cost: Inventory is a detailed list of such movable it

Policy statement, Policy Statement Policy statements are necessary to c...

Policy Statement Policy statements are necessary to clarify intentions, describe the policy administration process and define policy particulars. Policy statements protect an o

Participative management, PARTICIPATIVE  MANAGEMENT IN LIBRARIES MANAGEMEN...

PARTICIPATIVE  MANAGEMENT IN LIBRARIES MANAGEMENT: Like most other organizations, libraries and information centres have the dual social responsibility of satisfying the needs

What are the approaches to allocate factory overheads, What are the approac...

What are the approaches to allocate factory overheads? Product costing allocation methods - Plant wide allocation, Department allocation, Activity based allocation

Outline at least three steps common to pert and cpm, QUESTION (a) Feasi...

QUESTION (a) Feasibility Study is a preliminary study undertaken before a real work of a project start what factors should the project manager take into consideration while con

What modification issues would you suppose to encounter, Suppose you are th...

Suppose you are the project manager of a new management accounting system which will give monthly profit and loss accounts to a series of 30 computer dealerships, each of this is f

Methods used to performance appraisal of workers, What are the methods used...

What are the methods used to performance appraisal of workers? The methods used within performance appraisal of workers are ranking method, Paired Comparison Technique, Forced

What are the main factors in organisation structure included, What are the ...

What are the main factors in organisation structure included? The structure gives an appropriate frame work for authority and responsibility relationships among different posit

Downward communication from the superior to the subordinate, How must be th...

How must be the downward communication from the superior to the subordinate? There formal communication in between subordinate and superior, here the superior sends directions

Caselet, what action should be taken by various functioal managers to meet ...

what action should be taken by various functioal managers to meet the scheduled dates

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd