Operations management (needs to be completed 9/22/2014)

Assignment

In the previous weeks, you developed a plan for project managing acquisition projects. In Week 1, you discussed which tools would be most appropriate for managing cost, schedule, and technical performance. In Week 2, you evaluated the difference in managing a project if it is small in nature. In Week 3, you focused specifically on guidelines for acquisition projects. In Week 4, you incorporated cost methods and tools to assist you in project tracking and monitoring.

This week, you will be incorporating earned value management and how overall cost and schedule performance will be monitored and controlled.

Deliverables

The following are the overall project deliverables:

• Update the previously completed sections based on the instructor's feedback.
• Complete the following new sections:
  • Earned Value Management System
    • Discuss how an earned value analysis will be utilized for this project or Key Assignment, including the formulas to compute earned value analysis (EVA).
    • Cover the following 4 scenarios and what you should do:
      • Behind schedule and over budget: Include a sample calculation that would trigger this interpretation, along with a graph.
      • Ahead of schedule and on budget: Include a sample calculation that would trigger this interpretation, along with a sample graph.
      • Behind schedule and on budget: Include a sample calculation that would trigger this interpretation, along with a sample graph.
      • Ahead of schedule and under budget: Include a sample calculation that would trigger this interpretation, along with a sample graph.
    • Discuss for each of the above situations how you compute the final cost and end date if nothing changes with its present state.
  • Overall Cost and Schedule Performance
    • Discuss how you will monitor progress.
    • Discuss what metrics, reports, and graphs you will use to monitor progress.
    • Discuss how they would determine the cause of the variation.
    • Discuss how you will respond to deviations; (specifically around schedule compression and a contingency budget).
• Update the Key Assignment title page with a new date and project name.
• Be sure to update your table of contents before submission

The changes below are what the instructor is expecting. 

You must include a reference page for the whole project and include citations for each reference listed. You need to include your reference page for all sections of this paper and phase 5 IP ASAP. The following is your point allocation. Please download the grading rubric for this assignment for a complete description of the point allocation. You demonstrate a clear understanding of document organization that included APA style title page, table of contents, and section headings (0/5 points, no references). You demonstrate a clear understanding of selecting the best two cost estimation methods for this acquisition project and supports the decision and includes sample calculations using each of the methods (44/45 points). You do not demonstrate a clear understanding of building and filling in a table using the two selected cost methods to determine estimated costs for each activity that culminates into the comprehensive project budget (9/45 points, you did not complete according to the task requirements). You provided a sample calculation for two methods. You did not complete the table with the two estimated cost for your project. You did not demonstrate a clear understanding of developing a contingency budget for mitigation or risks including underestimating the effort (18/45 points, Work does not meet expectations. Comprehension is not demonstrated or relevant to topic. Partially addresses topics, only provided a definition for risk management). You demonstrate a clear understanding of the mechanics as the document is free of grammar and spelling mistakes; written at a college level; in APA format (0/10 points, no reference page). If you have any questions, feel free to contact me and I will be glad to help