A project that you are managing is into six months of its accomplishment and the planned duration is also six months. You are now reviewing the project status. The actual cost of Activity A and B are RM 200,000 and RM 100,000 respectively. The planned value for Activity A and B are RM 180,000 and RM 80,000 respectively. The Activity A is 100% complete whereas Activity B is only 75% complete. (a) Formulate the problem to determine whether the project is on-time and on-budget after six months using the Earned Value Analysis (EVA) method. (b) Generate the expected “cost at complete” and “time at complete” to finish the project at this pace. (c) Present two initiatives to be undertaken by the project manager to improve the situation based on Q4(b).

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...
icon
Related questions
icon
Concept explainers
Topic Video
Question

A project that you are managing is into six months of its accomplishment and
the planned duration is also six months. You are now reviewing the project
status. The actual cost of Activity A and B are RM 200,000 and RM 100,000
respectively. The planned value for Activity A and B are RM 180,000 and RM
80,000 respectively. The Activity A is 100% complete whereas Activity B is
only 75% complete.

(a) Formulate the problem to determine whether the project is on-time and on-budget after six months using the Earned Value Analysis (EVA) method.


(b) Generate the expected “cost at complete” and “time at complete” to finish
the project at this pace.


(c) Present two initiatives to be undertaken by the project manager to improve
the situation based on Q4(b).

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Knowledge Booster
Inventory management
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.