Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Need help with problem 2

Using the Figure below answer the following questions:
Cost
Case I
Cost
Case II
BCWS
ACWP
BCWP
Time
BCWS
BCWP
ACWP
Time
Cost
Case III
Cost
Case IV
A. For Case I is the project ahead or behind schedule? Why?
B. For Case II, is the project over or under cost? Why?
C. For Case III, is the Cost Performance Index greater then 1? Why?
D. For Case I, is the SPI greater then 1?
E. For Case IV, is the project on schedule and budget or not? Explain.
BCWP
BCWS
ACWP
ACWP
BCWS
BCWP
Time
Time
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Transcribed Image Text:Using the Figure below answer the following questions: Cost Case I Cost Case II BCWS ACWP BCWP Time BCWS BCWP ACWP Time Cost Case III Cost Case IV A. For Case I is the project ahead or behind schedule? Why? B. For Case II, is the project over or under cost? Why? C. For Case III, is the Cost Performance Index greater then 1? Why? D. For Case I, is the SPI greater then 1? E. For Case IV, is the project on schedule and budget or not? Explain. BCWP BCWS ACWP ACWP BCWS BCWP Time Time
Hint: the calculations and plots for this assignment are easily done in Excel
Table 1 below describes reported project status data in week 8 for the Beta project. The Beta project has a total budget of $460,000 and is expected to be
completed in 15 weeks. Using the data below create a table that shows:
A. The BCWS (entire project), BCWP (through week 8), and the ACWP (through week 8)
B. The Cost Variance and the Schedule Variance (both through week 8)
C. The Schedule Performance Index (SPI) and the Cost Performance index (CPI) (both through week 8)
Using the data you calculated for parts A-C above:
D. On a single set of axes, plot the BCWS, BCWP, and ACWP for the project
E. On a single set of axes, plot the SPI and CPI for the project
In one or two paragraphs, describe both the current and historic performance of the project in terms of budget and schedule. Reference the two plots you created
above in your text description. For example, "Project Beta is currently under budget by $X,000 as evidenced by the ACWP being ~$X,000 less then the BCWP for
the current week in Figure 1. Historically the project has been....." Also note in your description whether the project budget and schedule performance is getting
better, worse, or staying the same. Why?
Project
Week
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Table 1: Status data for the Beta project
Planned
weekly
earned value
($1,000)
$0
$50
$20
$20
$30
$10
$10
200
$25
2
$35
$39
$50
$20
$30
$50
$30
$40
$40
Estimated % Actual weekly
Complete cash outflows
(Actual) ($1,000)
0%
11%
13%
17%
23%
26%
29%
33%
38%
$0
$25
$15
$27
$23
$25
$15
$25
$35
expand button
Transcribed Image Text:Hint: the calculations and plots for this assignment are easily done in Excel Table 1 below describes reported project status data in week 8 for the Beta project. The Beta project has a total budget of $460,000 and is expected to be completed in 15 weeks. Using the data below create a table that shows: A. The BCWS (entire project), BCWP (through week 8), and the ACWP (through week 8) B. The Cost Variance and the Schedule Variance (both through week 8) C. The Schedule Performance Index (SPI) and the Cost Performance index (CPI) (both through week 8) Using the data you calculated for parts A-C above: D. On a single set of axes, plot the BCWS, BCWP, and ACWP for the project E. On a single set of axes, plot the SPI and CPI for the project In one or two paragraphs, describe both the current and historic performance of the project in terms of budget and schedule. Reference the two plots you created above in your text description. For example, "Project Beta is currently under budget by $X,000 as evidenced by the ACWP being ~$X,000 less then the BCWP for the current week in Figure 1. Historically the project has been....." Also note in your description whether the project budget and schedule performance is getting better, worse, or staying the same. Why? Project Week 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Table 1: Status data for the Beta project Planned weekly earned value ($1,000) $0 $50 $20 $20 $30 $10 $10 200 $25 2 $35 $39 $50 $20 $30 $50 $30 $40 $40 Estimated % Actual weekly Complete cash outflows (Actual) ($1,000) 0% 11% 13% 17% 23% 26% 29% 33% 38% $0 $25 $15 $27 $23 $25 $15 $25 $35
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