Exam 13: Project Evaluation and Control

Use the information in the table regarding this seven-month project to create two plots.The first plot should be the S-curve for Earned Value.Indicate on this plot whether the project is ahead or behind schedule and by how much.The second plot should be the Earned Schedule and the Estimate at Completion for Time.Comment on the symmetry of this graph and whether you would expect a similar plot from any other project to exhibit similar characteristics. $\begin{array} { | l | l | l | l | l | l | l | l | } \hline & \text { Month 1 } & \text { Month } 2 & \text { Month } 3 & \text { Month 4 } & \text { Month } 5 & \text { Month 6 } & \text { Month } 7 \\\hline \text { PV (\$) } & \$ 125 & \$ 275 & \$ 500 & \$ 875 & \$ 1,485 & \$ 2,325 & \$ 2,670 \\\hline \text { EV (\$) } & \$ 140 & \$ 280 & \$ 480 & \$ 800 & \$ 1,280 & \$ 1,975 & \$ 2,950 \\\hline\end{array}$

Gap analysis refers to any measurement process that first determines the goals and then the degree to which the actual performance lives up to those goals.

Use the data to calculate the earned value for the project.All amounts are in thousands of dollars. Duration (weeks) 5 10 15 20 25 \% Conceptual desiern 10 6 100\% Craphics desigrl 12 6 4 75\% Copyright 4 5 6 5\% Zarmples 4 2 25\% Toolirg 6 9 4 10\% Production 2 6 14 10\% Total 10 18 22 26 24 Currulative 10 28 50 76 100

Your organization is in the midst of a project in uncharted waters;nothing you have attempted before comes close to many of the activities that are necessary to bring this project to completion.Your earned value management should probably be tracked closely with a percentage complete rule in increments of 5 to 10 percent.

Use the S-curves for this project to create a table showing budgeted and actual expenses and variance in thousands of dollars and comment on the project's performance.The horizontal axis is in weeks.

Five weeks in the semester you have completed 0% of your project management class under the 0/100 rule.

Since a project may get ahead of or fall behind schedule,a calendar date cannot be a milestone.

In earned value management analysis,the cumulative amount of the budget becomes the:

The earned value divided by the actual,cumulative cost of the work to date is the:

Use the data to calculate the earned value for the project.All amounts are in thousands of dollars. Duration (weeks) 5 10 15 20 25 \% Conceptual desiern 10 6 100\% Craphics desigrl 12 6 4 100\% Copyright 4 5 6 25\% Zarmples 4 2 30\% Toolirg 6 9 4 10\% Production 2 6 14 5\% Total 10 18 22 26 24 Currulative 10 28 50 76 100

At Northrop Grumman,EVM is a corporate mandate that helps the company tailor the system to each new project in order to apply it correctly for maximum benefit,cost control,and corporate profitability.

Take the factors considered by earned value analysis and subtract those considered by tracking Gantt charts.The factor(s)you have remaining are:

Use the earned value table to determine the estimated cost to completion 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

The classic S-curve is a plot of cumulative cost versus elapsed time in weeks.

A tracking Gantt chart:

The Project Implementation Profile includes this critical success factor.

-Use the S-curve where the solid line is actual cost and the dashed line is budgeted cost to choose the BEST statement.

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

The flow of the Earned Value Management system at Northrop Grumman begins with the ________ stage.

It is possible to measure: