Kansas City Chapter Project Management Institute. Analyze This! Session Problem Worksheets
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1 Kansas City Chapter Project Management Institute Analyze This! Session Problem Worksheets Glenn Meyer 9/10/2012
2 Problems: Problem One: The Budget for your project is $3,680,549. Your cumulative Actual Cost is $2,261,004. You have been reporting the Estimate at Completion as $3,680,549, right on target. What is your Estimate to Complete? Answers: List anything else you might need to know before answering the question: 2012, Glenn Meyer Page 1 of 6 10 Sep 2012
3 Problem Two, Tripwire Metrics and VAC: Calculate the following using the formulae and data shown. Schedule Variance, Cost Variance, Variance at Completion, Baseline Efficiency Index. Item Formulae and Data Values Answers: Estimate at Completion $3,464,826 Variance At Completion Planned Value (PV) Budgeted Cost of Work Scheduled (BCWS) Actual Cost (AC) Actual Cost of Work Performed (ACWP) Schedule Variance (SV) VAC = EAC - BAC $1,885,603 $1,654,550 $1,100,512 SV = EV - PV Schedule Performance Index (SPI) SPI = EV / PV Cost Variance (CV) CV = EV - AC Cost Performance Index (CPI) CPI = EV / AC Activities actually finished. 206 Activities in PMB that were scheduled to have finished by Time Now. Baseline Efficiency Index (BEI) 249 Actual Finishes BEI = BL Project Finishes 2012, Glenn Meyer Page 2 of 6 10 Sep 2012
4 Problem Three: Calculate an Independent Estimate at Completion (IEAC) based upon the Cost Performance Index and the delta between them in accordance with the formulae and values shown in the table. Item Formulae and Data Values IEAC = BAC / CPI Answers: Estimate at Completion (EAC) $3,464,826 Cost Performance Index 1.50 Delta of EAC minus Independent EAC = IEAC - EAC Problem Four: Calculate a weighted average, risk-based estimate for an activity or WBS Item Case Estimate Probability Answers: Case Estimate x Probability Worst Case $10,000 15% Likely Case $7,000 50% Best Case $3,000 35% Risk-based Estimate Sum of Answers: 2012, Glenn Meyer Page 3 of 6 10 Sep 2012
5 Problem Five: Cost Schedule Method In Problem Three we calculated an Independent EAC based on the cumulative CPI. Now calculate one based on the Cost/Schedule Method. Formulae and Data Values Item ( ) Answer Below Planned Value (PV) Budgeted Cost of Work Scheduled (BCWS) $1,885,603 $1,654,550 Actual Cost (AC or ACWP) $1,100,512 Cost Performance Index (CPI) 1.50 Schedule Performance Index (SPI) , Glenn Meyer Page 4 of 6 10 Sep 2012
6 Problem Six: Three Month Average Method Calculate the 3 Month Average IEAC based upon the formula and Data below. ( ( ) ) ( ) Item Period 1 Period 2 Period 3 Average Budget at Completion (BAC) $3,680,549 $3,680,549 $3,680,549 Actual Cost (AC) Actual Cost of Work Performed (ACWP) $1,654,550 $2,674,593 $3,518,158 $1,100,512 $2,261,004 $3,162,370 Independent Estimate at Completion (IEAC) Problem Seven: Calculate the To Complete Performance Index based on the data and formula below. ( ) ( ) Item Data Values Answer Below Planned Value (PV) Budgeted Cost of Work Scheduled (BCWS) $1,885,603 $1,654,550 Actual Cost (AC or ACWP) $1,100,512 Estimate at Completion (EAC) $3,464,826 To Complete Performance Index (TCPI) 2012, Glenn Meyer Page 5 of 6 10 Sep 2012
7 2012, Glenn Meyer Page 6 of 6 10 Sep 2012
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