You are developing a performance progress report for a project you are managing. The following time-phased budget was developed earlier in the planning stage and is being used as the standard against which the project performance is measured.| Work Packages | W1 | W2 | W3 | W4 | W5 | W6 | W7 | W8 | W9 | W10 | W11 ||---------------|----|----|----|----|----|----|----|----|----|-----|-----|| A | 4 | 10 | 6 | | | | | | | | || B | | | 1 | 6 | 8 | | | | | | || C | | | | | | 8 | 5 | 6 | 10 | 8 | 3 || Total | 4 | 10 | 6 | 1 | 6 | 8 | 5 | 6 | 10 | 8 | 3 |At the end of Week 8, activity "C" is 50% complete. What is the Earned Value of this activity?Use two decimal places in your calculations.

Project managers can assess a project's success with the aid of earned value (EV), often referred to…

Answered: You are developing a performance…

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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Similar questions

Which of the following statements regarding PERT analysis is TRUE? Select one: O a Project variance is the sum of all activity variances. O b. Project standard deviation is the sum of all critical activity standard deviations. O c. Each activity has two estimates of its duration. O d. Only critical activities contribute to the project variance
You are managing a large construction project that’s been broken down intosub-projects (or phases). Each of these sub-projects is scheduled to takebetween three and six months to complete. At the end of each sub-project,you plan to go through the closing processes and document lessons learned.Which of the following BEST describes what you must do at the beginning ofeach sub-project or phase?A. Develop the preliminary scope statement for the phaseB. Make sure you don’t involve the team, to avoid introducing too much projectmanagement overheadC. Use the Earned Value Technique to decide whether or not to finish the projectD. Release all resources from the project and contact sellers to renegotiate allcontracts
The purpose of program evaluation is to assess how well the project team, team members, and program manager performed. Group of answer choices True False
The many kinds of project control philosophies and the projects they could be appropriate for should be discussed.
What are the benefits of using flowcharts as part of the requirement model in project management.
Using project management software to explore the effects of various scenarios on the project is called: projection sorting what-if analysis filtering
given the following information for a 1-year project, answer the following questions. Assume you have actual and earned value data at the end of the second month. Recall that PV is the plan value, Evie is the earned value, AC is the actual cost, and BAC is the budget at completion.pv =$ 23,000ev = 20,000ac= 25,000bac = 130,000a. what is the cost variance, schedule variance, cost performance index CPI and schedule performance index SPI for the project?B. how is the project progressing? Is it ahead of schedule or behind schedule? Is it under budget or over budget?C. use the CPI to calculate the estimate at completion EAC for this project.d. use the SPI to estimate how long it will take to finish this project.e. sketch the earned value chart for this project, use the figure below as a guide. Assume the data for month one is half of the values given for Pv, Ev and ac at the end of month 2
Analyze the characteristics of a project that calls for a predictive approach to the SDLC, and the one that calls for adaptive approach.
You are in charge of a project at the local community center. The center needs to remodel one ofthe rooms in time for the start of a new program. Delays in the project mean that the center mustrent other space at a nearby church at additional cost. Time and cost data for your project arecontained in below table. Your interest is in minimizing the cost of the project to the communitycenter.Using the normal times for each activity, what is the earliest date you can complete the project?Suppose the variable overhead costs are $50 per day for your project. Also, suppose that thecenter must pay $40 per day for a temporary room on day 15 or beyond. Find the minimum-costproject schedule using below format.The AON diagram for the community center project is below. Crash 4 times and find total cost.
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?
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?
there are four project baselines. Scope baseline Schedule baseline Cost baseline Performance measurement baseline Pick one of the baselines above, explain it, and tell us how it is applied to monitor and control a project. If possible, use the Getta Byte Project to provide examples.

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