A project is scheduled to complete in six months duration. There are two activities inthe project. The actual cost of Activity 1 is SAR 300,000 and that of Activity 2 isSAR 200,000. The planned value of these activities is SAR 280,000 and 150,000respectively. On reviewing, the current project status is Activity 1 is 100% completedand Activity 2 is only 75% completed.(i) Perform the earned value calculations of the above project scenario and fill thegiven table.(ii) What do you infer about the project schedule and cost based on your calculations?Earned ValuePlanned ValueActual CostCost VarianceActivityScheduled VarianceCost performance IndexSchedule performance IndexMonth 1

Answered: A project is scheduled to complete in…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Project Management 3. Jamaica's Highway 2000 project: Identify and justify the project development approach used for the project. Was it agile, waterfall/traditional or hybrid. 4. Was the Jamaica's Highway 2000 project selection method benefits measurements method or constraint optimization method.
A project has seven (7) main activities labelled A through G as shown in the below table which also shows their estimated duration times ( in weeks) and immediate predecessors. Activity a b Immediate Remarks predeccessor A 1 2 3 a = optimistic time 2 3 4 m = most likely time C 4 A b = pessimistic time 8 9 10 E 2 5 8 C,D 4 6. G 1 2 3 E (a) Develop a project network for this problem.
You have determined the following for a given project: Expected completion time of the project = 26 weeks Standard deviation of project completion time = 8 What is the probability of completing the project in more than 32 weeks? answer as a decimal and take it to four places.
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You are conducting a small IT project. The duration of this project is 30 days, and you have allocated $60,000 for it. Your manager asked you to check how the project is doing financially at the end of day 25. You have spent $40,000 and completed 95% of the work. Calculate the following values for the project so far. The cost variance (CV). The cost performance index (CPI). How is the project doing, is it under budget or over budget? Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?
Define project. Define the term project objective, and give some examples. List some examples of resources that are used on a project. Define scope, schedule, cost, and customer satisfaction. Why are these con-sidered to be constraints? List and describe the main phases of the project life cycle.
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