Planning the Project Reflection, Discussion and Assignment

Reflection and Discussion Forum Week 5

Reflect on the assigned readings for Week 5 and then type a two page paper regarding what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.  Define and describe what you thought was worthy of your understanding in half a page, and then explain why you felt it was important, how you will use it, and/or how important it is in project planning.   After submitting your two page paper as an initial post in the "Reflection and Discussion Forum," then type at least two peer replies in response to your classmates posts (200 word minimum each).

Problem Set #5

Earned-value analysis. A project budget calls for the following expenditures:

Task	Date	Budgeted Amount
Build forms	April 1	$10,000
Pour foundation	April 1	$50,000
	May 1	$100,000
Frame walls	May 1	$30,000
	June 1	$30,000
Remaining tasks	July 1 and beyond	$500,000

Define each term in your own words, calculate these values for the above project, and show your work:

1. Budgeted cost baseline (make a graph illustrating this one)

2. Budget at completion (BAC)

3. Planned value (PV) as of May 1

4. Earned value (EV) as of May 1 if the foundation work is only two-thirds complete. Everything else is on schedule.

5. SV as of May 1.

6. Actual cost as of May 1 is $160,000. Calculate the cost variance (CV) as of May 1.

7. Schedule performance index (SPI)

8. Cost performance index (CPI)

9. Estimate to complete (ETC), assuming that the previous cost variances will not affect future costs

10. Estimate at completion (EAC)