Info Tech Project/Team Mgmt
To: CEO, CIO, Wellness Works Project Representative
CC: Project team
From: <Your Name>
Subject: Project Status Evaluation
Date: <today’s date>
1. Status Evaluation
2. Project Analysis
a. Impact of scope creep
b. Significance of the baseline
c. Impact of baseline change
d. Estimated vs. actual costs
3. Forecasting
a. Assumptions
b. Projected end date of the project (schedule variance)
c. Cost to complete the project (cost variance)
d. Forecasted overrun at completion (estimated at completion)
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Earned Value Calculation |
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Milestone Completion |
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Actual Cost (AC) |
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Actual % Complete (APC) |
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Planned % Complete (PPC) |
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Budgeted Cost at Completion (BAC) |
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Current |
Earned Value (EV) |
EV = BAC * APC |
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Planned Value(PV) |
PV = BAC * PPC |
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Schedule Performance Index(SPI) |
SPI = EV/PV |
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Schedule Variance (SV) |
SV = EV - PV |
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Cost Performance Index (CPI) |
CPI = EV/AC |
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Cost Variance (CV) |
CV = EV - AC |
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Forecast |
Estimated Cost at Completion(EAC) |
EAC = BAC/CPI |
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Variance at Completion (VAC) |
VAC = BAC - EAC |
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Estimated Cost to Complete (ETC) |
ETC = EAC - AC |
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SPI |
If < 1 |
Behind Schedule |
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If > 1 |
Ahead of Schedule |
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If = 1 |
On Schedule |
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CPI |
If < 1 |
Over budget |
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If > 1 |
Under budget |
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If = 1 |
On budget |
4. Impact of the past
5. Corrective Actions
a. Immediate actions
b. Target dates
c. Necessary steps
References
IT 625 – Project Milestone 2 Thursday, June 1, 2017