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Industrial Engineering

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Feb 20, 2024

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1 Project Analysis Report Web Design Project: Performance Analysis Summary Baseline The baseline outlines the auto-scheduled tasks within the Acme Widgets Inc. New Website Project. The project duration spans 12 1 2 days business days . The total project cost was projected at $ 165,860 158,900 .00 .00 , with actual costs incurred at $ 109,580.00 109,460.00 . Several key milestones and corresponding tasks are defined within the project schedule. For

2 instance, the Conduct Client Kick-off Meeting Task 1 outlines three specific steps: Review requirements with the client Task 1.1, Confirm deliverables Task 1.2, and Client Acceptance - Milestone Task 1.3. Each of these tasks corresponds to specific budget allocations. Additionally, the breakdown of various development and implementation stages Tasks 2, 3, 4, 5, etc. is detailed, specifying different subtasks under each phase. These tasks include activities like website development, procurement of IT system equipment, installation and configuration, data migration and testing, bug fixes, staff training, deployment, monitoring, and project closure. Metrics The critical performance metrics, including Planned Value or PV, Actual Cost or AC, and Earned Value or EV, were calculated. The Planned Value, representing the approved budget, was $ 110,540.00 135,950 . 82 while the Actual Cost incurred in complet ed ing the w ork so far was ork is $109, 46 58 0.00. The Earned Value, showing the actual work accomplished, summed up to $ 109, 58 0 114,500 .00 . Based on these calculations, the Schedule Performance Index or SPI was determined to be 0.84 0.99 . The Cost Performance Index or CPI was 1.0 4 , indicating that the project is following the baseline budget. Importance of the Metrics

3 The importance of metrics like the Cost Performance Index and Schedule Performance Index in a project analysis cannot be understated overstated . They provide critical insights into a project's health, offering an objective assessment of how well the project is performing in terms of costs and schedule adherence (PMI, 2017). The CPI is a measure of how efficiently resources are being utilized concerning the budget. A CPI value greater than 1 indicates the project is under budget, meaning that the project is spending less than planned to achieve the current level of completion. On the other hand, a CPI value less than 1 signifies that the project is over budget, and the cost of the work accomplished is more than initially forecasted (PMI, 2017). It's crucial because it aids in financial forecasting, cost control, and ensuring optimal resource allocation to complete the project within the budget. The SPI measures the project's schedule efficiency. An SPI greater than 1 indicates that the project is ahead of schedule, with work being completed faster than planned. Conversely, an SPI value below 1 suggests that the project is falling behind schedule, indicating inefficiencies in progress (Rojas et al., 2021). SPI helps project managers understand how effectively they are progressing towards project milestones and assists in managing resources and schedules to ensure timely project completion. In project management, the evaluation of financial and schedule performance is essential for ensuring the project's overall health and success. Two key ratios, the Cost Performance Index (CPI) and the Schedule Performance Index (SPI), play a pivotal role in providing a comprehensive snapshot of a project's status. In the context of a Web Design project, the CPI of 1.04 indicates that the project is slightly under budget at 6% . This means that the costs incurred are favorable compared to what was initially planned, showcasing effective cost management.

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