PREDICT 475: Project Management. Chap 13 Problem Solving Session
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1 PREDICT 475: Project Management Chap 13 Problem Solving Session
2 Exercises 13.1 & 2 1. In month 9 the following project information is available: actual cost is $2,000, earned value is $2,100, and planned cost is $2,400. Compute the SV and CV for the project.
3 Exercises 13.1 & 2 1. In month 9 the following project information is available: actual cost is $2,000, earned value is $2,100, and planned cost is $2,400. Compute the SV and CV for the project. CV = EV - AC SV = EV PV
4 Exercises 13.1 & 2 1. In month 9 the following project information is available: actual cost is $2,000, earned value is $2,100, and planned cost is $2,400. Compute the SV and CV for the project. CV = EV AC = = 100 SV = EV PV = = -300
5 Exercises 13.1 & 2 1. In month 9 the following project information is available: actual cost is $2,000, earned value is $2,100, and planned cost is $2,400. Compute the SV and CV for the project. CV = EV - AC = = 100 SV = EV PV = = On day 51 a project has an earned value of $600, an actual cost of $650, and a planned cost of $560. Compute the SV, CV, and CPI for the project. What is your assessment of the project on day 51?
6 Exercises 13.1 & 2 1. In month 9 the following project information is available: actual cost is $2,000, earned value is $2,100, and planned cost is $2,400. Compute the SV and CV for the project. CV = EV AC = = 100 SV = EV PV = = On day 51 a project has an earned value of $600, an actual cost of $650, and a planned cost of $560. Compute the SV, CV, and CPI for the project. What is your assessment of the project on day 51? CV = EV AC SV = EV PV CPI = EV / AC
7 Exercises 13.1 & 2 1. In month 9 the following project information is available: actual cost is $2,000, earned value is $2,100, and planned cost is $2,400. Compute the SV and CV for the project. CV = EV AC = = 100 SV = EV PV = = On day 51 a project has an earned value of $600, an actual cost of $650, and a planned cost of $560. Compute the SV, CV, and CPI for the project. What is your assessment of the project on day 51? CV = EV AC = = -50 SV = EV PV = = 40 CPI = EV / AC = 600 / 650 =.92
8 Exercises 13.1 & 2 Basics Calculation Comments PV The planned time-phased value of the MS Project: BCWS Budgeted cost of the work scheduled work that is scheduled EV Earned value is simply percent complete EV = % Complete * PV MS Project: BCWP Budgeted cost of the work performed times its budgeted cost of the work AC Actual cost of the work completed MS Project: ACWP Actual cost of the work performed BAC The total planned value of the project Budgeted cost at completion Cost CV Cost variance adjusted budget costs to the CV = EV - AC Negative number indicates over budget. Positive number indicates under budget. Need to know % CPI actual spent costs Cost performance index is a measure of cost efficiency on a project TCPI To complete performance index TCPI = (BAC - EV) / (BAC - AC) Schedule SV SPI Critical Path Schedule variance: How much work that has been done compared with how much should have done at this point in time Schedule performance index is a measure of schedule efficiency on a project Look at current activity on the critical path or most recent milestone to see if it is on schedule over budget to indicate magnitude. CPI = EV / AC A value less than 1 indicates a cost overrun. A value greater than 1 indicates cost savings. CPI =.90 means we are only earning 90 cents of planned work for each dollar spent. Found on the EV Cost Indicators Table in MS Project. The amount of value each remaining dollar must earn for the project to stay within budget. A number greater than 1 means there is more work than there is budget left. A number less than 1 means there is less work than there is budget left. Found on the EV Cost Indicators Table in MS Project. SV = EV - PV Negative number indicates work that was suppose to be done at this time has not been done. Positive number indicates work that was not suppose to be done by this time has been accomplished. SV = - 1,000 means $1,000 worth of work that was scheduled to be done at this time has not been accomplished. SPI = EV / PV A value less than 1 indicates that work on the project is behind schedule. A value greater than 1 indicates work on the ahead of schedule. SPI = 1.10 means $1.10 worth of work has been accomplished for each $1 worth of scheduled work. Found at MS EV Schedule Indicators Table. Compare the planned early start of most recent critical activity with the actual start. Alternative compare most recent milestone date and actual milestone date. PCIB Percent complete in terms of budget PCIB = EV / BAC What percentage of work has been completed to date based on planned budget. A good indicator of how much of the project has been completed. Not available in MS Project. PCIC Percent complete in terms of expected costs PCIC = AC / EAC e Forecast EAC f Forecasted estimate cost at completion EAC f = What percentage of work has been completed to date based on revised estimates of total project costs. Preferred when you have confidence in revised estimates and or budget is not fixed. Not available in MS Project. Gray & Larson refer to this as FAC or EAC f. If we continue to earn?? (CPI) on the project, how much will the total cost be? Reliability increases as PCIB or PCIC increases. AC + [(BAC - EV) / CPI] EAC e Revised estimate cost at completion EAC e = AC + ETC ETC equals the revised estimates for remaining work. Only valid if revised estimates have been entered. VAC Forecasted cost variance VAC = BAC - EAC f Positive number indicates that the project will be completed under budget. A negative number suggests that it will be completed over budget. Gray & Larson refer to it as VAC f. Preferred on large projects and when it is not practical to obtain valid revised estimates. VAC e Revised estimate cost variance VAC e = BAC - EAC e Positive number indicates that the project will be completed under budget. A negative number suggests that it will be completed over budget.
9 3. Given the project network and baseline information below, complete the form to develop a status report for the project at the end of period 4 and the end of period 8. From the data you have collected and computed for periods 4 and 8, what information are you prepared to tell the customer about the status of the project at the end of period 8?
10 3. Given the project network and baseline information below, complete the form to develop a status report for the project at the end of period 4 and the end of period 8. From the data you have collected and computed for periods 4 and 8, what information are you prepared to tell the customer about the status of the project at the end of period 8?
11 Network Information Table 6.2 Activity Network Information Description Preceding Activity Activity Time A Whatever - 1 none 2 B Whatever -2 A 6 C Whatever -3 A 5 D Whatever -4 B 4 E Whatever -5 C 3 F Whatever -6 D, E 3
12 Network Information Table 6.2 Activity Network Information Description Preceding Activity Activity Time A Whatever - 1 none 2 B Whatever -2 A 6 C Whatever -3 A 5 D Whatever -4 B 4 E Whatever -5 C 3 F Whatever -6 D, E 3
13 Network Information Table 6.2 Activity Network Information Description Preceding Activity Activity Time A Whatever - 1 none 2 B Whatever -2 A 6 C Whatever -3 A 5 D Whatever -4 B 4 E Whatever -5 C 3 F Whatever -6 D, E 3 B D Legend ES ID EF SL(T) SL(F) LS DUR LF A F C E
14 Network Information Table 6.2 Activity B Network Information Description Preceding Activity D Activity Time A Whatever - 1 none 2 B Whatever -2 A 6 C Whatever -3 A 5 D Whatever -4 B 4 E Whatever -5 C 3 F Whatever -6 D, E 3 Legend ES ID EF SL(T) SL(F) LS DUR LF 6 4 A F 2 C E 3 5 3
15 Forward Pass B 6 D 4 A F 2 C E Legend ES ID EF SL(T) SL(F) LS DUR LF
16 Forward Pass 2 B D A 2 12 F C 7 7 E Legend ES ID EF SL(T) SL(F) LS DUR LF
17 Forward Pass 2 B D A 2 12 F C 7 7 E 12 3 Backward Pass 5 2 B D 12 Legend ES ID EF SL(T) SL(F) LS DUR LF A 2 12 F C 7 7 E
18 Forward Pass 2 B D A 2 12 F C 7 7 E 12 3 Backward Pass 5 2 B D 12 Legend ES ID EF SL(T) SL(F) LS DUR LF A 2 12 F C 7 7 E
19 Total/Free 2 B D A 2 12 F C 7 7 E Legend ES ID EF SL(T) SL(F) LS DUR LF
20 Total/Free 2 B D A C E F Legend ES ID EF SL(T) SL(F) LS DUR LF
21 2 B D A C E F Legend ES ID EF SL(T) SL(F) LS DUR LF
22 2 B D A C E F Legend ES ID EF SL(T) SL(F) LS DUR LF CP
23 2 B D AON Network Info Table 6.2 Nodes, Logic, Duration Forward Pass Backward Pass Total & Free CP Danglers Leads/Lags 0 A C E F Legend ES ID EF SL(T) SL(F) LS DUR LF CP
24 0 A B C D E F Legend ES ID EF SL(T) SL(F) LS DUR LF CP (T) (F) Time Period (Budget Baseline - PV) Budget (PV) Activity Duration ES LS EF LF A B C D E F Period PV Total 0 Critical Path Cumulative PV Total 0
25 0 A B C D E F Legend ES ID EF SL(T) SL(F) LS DUR LF CP (T) (F) Activity Duration ES LS EF LF A B C D E F Time Period (Budget Baseline - PV) Budget (PV) Period PV Total 0 Critical Path Cumulative PV Total 0
26 0 A B C D E F Legend ES ID EF SL(T) SL(F) LS DUR LF CP (T) (F) Activity Duration ES LS EF LF A B C D E F Time Period (Budget Baseline - PV) Budget (PV) Period PV Total 0 Critical Path Cumulative PV Total 0
27 0 A B C D E F Legend ES ID EF SL(T) SL(F) LS DUR LF CP (T) (F) Activity Duration ES LS EF LF A B C D E F Time Period (Budget Baseline - PV) Budget (PV) Period PV Total 0 Critical Path Cumulative PV Total 0
28 (T) (F) Activity Duration ES LS EF LF A B C D E F Time Period (Budget Baseline - PV) Budget (PV) Period PV Total 0 Critical Path Cumulative PV Total 0
29 (T) (F) Time Period (Budget Baseline - PV) Budget (PV) Activity Duration ES LS EF LF A B C D E F Period PV Total Critical Path Cumulative PV Total
30 (T) (F) Time Period (Budget Baseline - PV) Budget (PV) Activity Duration ES LS EF LF A B C D E F Period PV Total Critical Path Cumulative PV Total Status Report after 4 Periods: Task Actual % EV AC PV CV SV Complete $ $ $ $ $ A Finished B 50% C 33% D E F Cumulative Totals
31 (T) (F) Time Period (Budget Baseline - PV) Budget (PV) Activity Duration ES LS EF LF A B C D E F Period PV Total Critical Path Cumulative PV Total Status Report after 4 Periods: Task Actual % EV AC PV CV SV Complete $ $ $ $ $ CPI SPI A Finished B 50% C 33% D 0% E 0% F 0% Cumulative Totals EV = %COMP * PV CV = EV - AC SV = EV PV CPI = EV / AC SPI = EV / PV
32 (T) (F) Time Period (Budget Baseline - PV) Budget (PV) Activity Duration ES LS EF LF A B C D E F Period PV Total Critical Path Cumulative PV Total Status Report after 4 Periods: Task Actual % EV AC PV CV SV Complete $ $ $ $ $ CPI SPI A Finished B 50% C 33% D 0% E 0% F 0% Cumulative Totals EV = %COMP * PV CV = EV - AC SV = EV PV CPI = EV / AC SPI = EV / PV
33 (T) (F) Time Period (Budget Baseline - PV) Budget (PV) Activity Duration ES LS EF LF A B C D E F Period PV Total Critical Path Cumulative PV Total Status Report after 8 Periods: Task Actual % EV AC PV CV SV Complete $ $ $ $ $ CPI SPI A Finished B Finished C Finished D 25% 300 E 33% 300 F 0% Cumulative Totals EV = %COMP * PV CV = EV - AC SV = EV PV CPI = EV / AC SPI = EV / PV
34 (T) (F) Time Period (Budget Baseline - PV) Budget (PV) Activity Duration ES LS EF LF A B C D E F Period PV Total Critical Path Cumulative PV Total Status Report after 8 Periods: Task Actual % EV AC PV CV SV Complete $ $ $ $ $ CPI SPI A Finished B Finished C Finished D 25% ** E 33% F 0% Cumulative Totals EV = %COMP * PV CV = EV - AC SV = EV PV CPI = EV / AC SPI = EV / PV
35 PREDICT 475 Chap 13 Problem Solving
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