Management

Usin" rel="nofollow">ing the concepts discussed in" rel="nofollow">in Chapter 7, complete the followin" rel="nofollow">ing problems. Be sure to show all calculations, preferably in" rel="nofollow">in an EXCEL file. Each problem is of equal value. Each part of a problem is equal. Problem 1. A project in" rel="nofollow">in its 26th week has an actual cost of $300,000. It was scheduled to have completed $325,000 worth of work at that poin" rel="nofollow">int in" rel="nofollow">in the project. For the work performed to date, the budgeted value is $350,000. The project has a total budget of $500,000. What are the cost and schedule variances for the project? What are the SPI and CPI? Assumin" rel="nofollow">ing that both schedule and cost variances will affect the remain" rel="nofollow">inin" rel="nofollow">ing work, what is the EAC? a. CV = b. SV = c. SPI = d. CPI = e. EAC = Problem 2. A project has just completed its 87th item in" rel="nofollow">in the project plan. It was scheduled to have spent $300,000 at this poin" rel="nofollow">int in" rel="nofollow">in the plan, but has actually spent only $250,000. The project manager estimates that the value of the work actually fin" rel="nofollow">inished is nearly $200,000. What are the spendin" rel="nofollow">ing and schedule variances for the project? What are the SPI and CPI? What is the Critical Ratio? a. CV = b. SV = c. SPI = d. CPI = e. CR = Problem 3. The followin" rel="nofollow">ing project is at the end of its 6th week. Fin" rel="nofollow">ind the cost and schedule variances. Also fin" rel="nofollow">ind the CPI and SPI. Then fin" rel="nofollow">ind the critical ratio of the project usin" rel="nofollow">ing earned value calculations. Fin" rel="nofollow">inally, calculate the EAC for the project by at least two different methods. Activity Predecessor Duration (wks) Budget ($) Actual Cost ($) %Complete a - 2 600 400 100 b - 3 150 180 100 c a 2 250 300 100 d a 5 500 400 20 e b, c 4 400 200 20 a. CV = b. SV = c. CPI = d. SPI= e. CR= f. EAC= Problem 4. Solve the followin" rel="nofollow">ing Case: Stoneworth Pavin" rel="nofollow">ing Company specializes in" rel="nofollow">in highway pavin" rel="nofollow">ing jobs for state of Virgin" rel="nofollow">inia. When the State first awarded Stoneworth the contract, they stipulated a 1% penalty for each week Stoneworth was late on a completion date. Preston Flin" rel="nofollow">introck, the project coordin" rel="nofollow">inator for Stoneworth, began to notice that the last two jobs were three weeks late, and the pavin" rel="nofollow">ing job that was due to be completed in" rel="nofollow">in the next two weeks was behin" rel="nofollow">ind schedule. When Preston went in" rel="nofollow">in the field to in" rel="nofollow">investigate, he found the job to be understaffed, supplier delays, and a high work rejection/repavin" rel="nofollow">ing needed. As a result, Preston decided to establish a better system of project control and present it to the boss. a. If you were Preston, what characteristics would you look for in" rel="nofollow">in a new control system? Explain" rel="nofollow">in b. Will a new control system be adequate for the problem? Explain" rel="nofollow">in