Exam 13: Project Evaluation and Control

Project goal setting includes setting a baseline plan,which is predicated on:

What are the inputs and the steps in applying earned value management as a project management tool?

Use the data to calculate the schedule performance index for the project for the end of week 10.The earned value as of the end of week 10 is indicated in the table.All amounts are in thousands of dollars. Duration (weeks) 5 10 15 20 25 \% Cornp Conceptual desigri 10 6 100\% Craphics desigrl 12 6 4 30\% Copyright 4 5 6 0\% Barnples 4 2 0\% Toolirg 6 9 4 0\% Production 2 6 14 0\% Total 10 18 22 26 24 Currulative 10 28 50 76 100

Which of these tools allows a project team to make future projections of project status based on its current state?

The first step in the control cycle is:

Can earned value be used to manage a portfolio of projects? If so,how would this analysis proceed?

During the ________ stage of the EVM flow at Northrop Grumman,performance is measured,schedules are updated,and all significant variances are identified and reported.

Use the earned value table (all amounts indicated are dollars)to determine the earned value to the nearest hundred dollars given the indicated state of the project. Activity 5 10 15 20 25 30 35 Plan \% Complete A 850 350 1,200 100\% B 400 125 525 100\% C 1,275 650 1,925 100\% D 2800 4,500 350 7,650 95\% E 680 400 1,080 75\% F 125 875 1,000 80\% G 300 1200 1,500 45\% Monthly Plan 850 750 1,400 3,450 5,180 1,175 2,075 14,880 Monthly Act 900 650 1,350 3,875 4,780 850 2,000

Earned value management at the portfolio level requires:

Use this earned schedule table to determine the earned schedule for this project at the end of Month 6. $\begin{array} { | l | l | l | l | l | l | l | l | } \hline & \text { Month 1 } & \text { Month } 2 & \text { Month } 3 & \text { Month 4 } & \text { Month } 5 & \text { Month 6 } & \text { Month } 7 \\\hline \text { PV (\$) } & \$ 125 & \$ 275 & \$ 500 & \$ 875 & \$ 1,485 & \$ 2,325 & \$ 2,670 \\\hline \text { EV (\$) } & \$ 50 & \$ 120 & \$ 255 & \$ 420 & \$ 715 & \$ 865 & \$ 0 \\\hline\end{array}$

Use the earned value table to determine the schedule performance index given the indicated state of the project. Activity 5 10 15 20 25 30 35 Plan \% Complete A 850 350 1,200 100\% B 400 125 525 100\% C 1,275 650 1,925 100\% D 2800 4,500 350 7,650 95\% E 680 400 1,080 75\% F 125 875 1,000 80\% G 300 1200 1,500 45\% Monthly Plan 850 750 1,400 3,450 5,180 1,175 2,075 14,880 Monthly Act 900 650 1,350 3,875 4,780 850 2,000

Inspired by his trip to Greece,the gentleman farmer decided he needed a Mykonos-style windmill pumping a pond for his sheep and orchard.His earned value table for the project appears below.Develop a plot that shows the project baseline and earned value through June and comment on the project. \% Earned Activity Jan Feb Mar Apr May Jun Jul Plan Complete Value Grading 500 150 650 100\% 650 Footings 200 150 350 100\% 350 Foundation 800 300 1,100 80\% 880 Masonry 300 300 200 800 70\% 560 Interior 700 2,000 2,700 50\% 1,350 Pump Install 3,000 3,000 40\% 1,200 Painting 350 400 750 25\% 188 Monthly Plan 500 350 950 600 1,000 2,550 3,400 9,350 5,178 Cumulative 500 850 1,800 2,400 3,400 5,950 9,350 Monthly Actual 600 400 900 800 800 2,800 0 Cumulative Actual 600 1,000 1,900 2,700 3,500 6,300

What is earned value management and how can it be used to monitor project status?

Very short work packages would be better managed by:

The project control process is captured in the critical success factor of:

In the build-up stage of a successful project,it is important that:

Project control should be:

One strength of S-curve analysis is that it provides real-time tracking information.

Define human factors and discuss their impact on project success?

Use this earned schedule table to determine the schedule variance (t)for this project at the end of Month 6. $\begin{array} { | l | l | l | l | l | l | l | l | } \hline & \text { Month 1 } & \text { Month } 2 & \text { Month } 3 & \text { Month 4 } & \text { Month } 5 & \text { Month 6 } & \text { Month } 7 \\\hline \text { PV (\$) } & \$ 125 & \$ 275 & \$ 500 & \$ 875 & \$ 1,485 & \$ 2,325 & \$ 2,670 \\\hline \text { EV (\$) } & \$ 50 & \$ 120 & \$ 255 & \$ 420 & \$ 715 & \$ 865 & \$ 0 \\\hline\end{array}$