2. Solve the Running Case Task 3 on page 296 (Chapter 7) (Page numbers refer to the Eighth Edition of the textbook: Information Technology Project Management by Kathy Schwalbe). ### Project Management Exercise #### Task Overview 1. **Initial Setup:** - **Outsourced Website Tasks:** 1. **Domain name and site hosting** 2. **Donation acceptance feature of website** 3. **Video creation for website** - **In-house Development:** 1. **Testing** - Guidelines and templates for events - Acceptance of ideas for needed new products or services - Custom site for 20 events - **Business Plan:** - Internal labor - Legal information/assistance - **Travel** - **Events:** 1. **Internal labor** 2. **Consultant labor** 3. **Refreshments** 4. **Prizes** 2. **Cost Baseline Preparation:** - Use the cost model from Task 1. - Allocate project costs by Work Breakdown Structure (WBS) for each month. 3. **Project Status:** - Three months into the project. - Budget at Completion (BAC) was $120,000 for this six-month project. - Assumptions: - **Planned Value (PV):** $60,000 - **Earned Value (EV):** $55,000 - **Actual Cost (AC):** $50,000 #### Project Management Questions a. **Calculations:** - Determine cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI). b. **Assessment:** - Analyze the project status: - Is it ahead or behind schedule? - Is it under budget or over budget? c. **Performance Evaluation:** - Use the CPI to calculate the estimate at completion (EAC). - Evaluate if the project performance is better or worse than expected. d. **Forecasting:** - Use the SPI to estimate the project's completion time. #### Additional Notes - Sketch a comprehensive graph to visualize the solutions for the above calculations for clarity and understanding.
2. Solve the Running Case Task 3 on page 296 (Chapter 7) (Page numbers refer to the Eighth Edition of the textbook: Information Technology Project Management by Kathy Schwalbe). ### Project Management Exercise #### Task Overview 1. **Initial Setup:** - **Outsourced Website Tasks:** 1. **Domain name and site hosting** 2. **Donation acceptance feature of website** 3. **Video creation for website** - **In-house Development:** 1. **Testing** - Guidelines and templates for events - Acceptance of ideas for needed new products or services - Custom site for 20 events - **Business Plan:** - Internal labor - Legal information/assistance - **Travel** - **Events:** 1. **Internal labor** 2. **Consultant labor** 3. **Refreshments** 4. **Prizes** 2. **Cost Baseline Preparation:** - Use the cost model from Task 1. - Allocate project costs by Work Breakdown Structure (WBS) for each month. 3. **Project Status:** - Three months into the project. - Budget at Completion (BAC) was $120,000 for this six-month project. - Assumptions: - **Planned Value (PV):** $60,000 - **Earned Value (EV):** $55,000 - **Actual Cost (AC):** $50,000 #### Project Management Questions a. **Calculations:** - Determine cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI). b. **Assessment:** - Analyze the project status: - Is it ahead or behind schedule? - Is it under budget or over budget? c. **Performance Evaluation:** - Use the CPI to calculate the estimate at completion (EAC). - Evaluate if the project performance is better or worse than expected. d. **Forecasting:** - Use the SPI to estimate the project's completion time. #### Additional Notes - Sketch a comprehensive graph to visualize the solutions for the above calculations for clarity and understanding.
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...
Related questions
Question
2. Solve the Running Case Task 3 on page 296 (Chapter 7) (Page numbers refer to the Eighth
Edition of the textbook: Information Technology Project Management by Kathy Schwalbe).
It's problem number 3.
Transcribed Image Text:2. Solve the Running Case Task 3 on page 296 (Chapter 7) (Page numbers refer to the Eighth Edition of the textbook: Information Technology Project Management by Kathy Schwalbe).
Transcribed Image Text:### Project Management Exercise
#### Task Overview
1. **Initial Setup:**
- **Outsourced Website Tasks:**
1. **Domain name and site hosting**
2. **Donation acceptance feature of website**
3. **Video creation for website**
- **In-house Development:**
1. **Testing**
- Guidelines and templates for events
- Acceptance of ideas for needed new products or services
- Custom site for 20 events
- **Business Plan:**
- Internal labor
- Legal information/assistance
- **Travel**
- **Events:**
1. **Internal labor**
2. **Consultant labor**
3. **Refreshments**
4. **Prizes**
2. **Cost Baseline Preparation:**
- Use the cost model from Task 1.
- Allocate project costs by Work Breakdown Structure (WBS) for each month.
3. **Project Status:**
- Three months into the project.
- Budget at Completion (BAC) was $120,000 for this six-month project.
- Assumptions:
- **Planned Value (PV):** $60,000
- **Earned Value (EV):** $55,000
- **Actual Cost (AC):** $50,000
#### Project Management Questions
a. **Calculations:**
- Determine cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI).
b. **Assessment:**
- Analyze the project status:
- Is it ahead or behind schedule?
- Is it under budget or over budget?
c. **Performance Evaluation:**
- Use the CPI to calculate the estimate at completion (EAC).
- Evaluate if the project performance is better or worse than expected.
d. **Forecasting:**
- Use the SPI to estimate the project's completion time.
#### Additional Notes
- Sketch a comprehensive graph to visualize the solutions for the above calculations for clarity and understanding.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 6 images
Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
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…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.