Rob, the project manager of Berwanger, Inc. has been executing a project. On July 30, 2012 the project is 60% complete and heneeds help with following measurements:a. What is the cost variance?b. What is the schedule variance?c. What is the cost performance index?d. What is the schedule performance index?e. What is the estimate at completion?f. What is the estimate to complete?g. What is the variance at completion?h. What is the resource utilization efficiency?i. What is the resource utilization index?j. What is the percent complete?k. What is the percent spent?1. What is the status of the project? 1. What is the status of the project?Completion PV EV ACDate($M) ($M) ($M)Jan 31Feb 27Apr 30May 30March 30 6 8June 30July 308August 308 13 A4 3 6 B2015 12 10 D20 20 25 E814ActivityC21FG15 0 0 HJan 31 8 8 13 AFeb 27March 30 6 8 4 CApr 30May 30July 304 3 6 BAugust 30June 30 9 8 4 FSept 3015 12 10 D20 20 25 E20 14 21 G15 0 0 H25 0 0 1

NOTE: We are allowed to do the first three sub-parts only. Earned Value Analysis (EVA) is a project…

Answered: a. What is the cost variance? b. What…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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The following six activities constitute an overall bar chart portrayal of 4-month project. Two months after the start of construction, Activities A, C, D half of E, and one-fourth of B were completed, for a cost of $10,500. Evaluate the status of the project. Using earned value concepts, determine the schedule variance and the cost variance. State if the project is over or under budget and if it is ahead of or behind schedule.
Gabrielle Kramer, owner of Pet Paradise, is opening a new store in Columbus, Ohio. Her major concern is the hiring of a manager and several associates who are animal lovers. She also has to coordinate the renovation of a building that was previously owned by a chic clothing store. Kramer has gathered the data shown in Table.a. How long is the project expected to take?b. Suppose that Kramer has a personal goal of completing the project in 14 weeks. What is the probability that it will happen this quickly?
Solve the following project by hand and submit your notes: Activity Normal Time (weeks) Crash Time (weeks) Normal Cost Crash Cost Immediate Predecessor A 4 3 $2,000 $2,100 - B 2 1 $2,200 $2,800 - C 3 3 $500 $500 - D 8 6 $2,300 $2,600 A E 6 3 $900 $1,200 B F 3 2 $3,000 $4,200 C G 4 2 $1,400 $2,000 E, F How long will the project take? What is the total cost to complete the project in normal time? If the project is to be shortened by 1-week, which activity will be reduced and how much will the cost be increased? What is the maximum time that the project can be crashed? How much will the cost increase if it is crashed the maximum?
After the first month of a project, the Actual Cost was $400 and the planned cost for the first month was $500. Currently, only 50% of the work have been completed. Based on this information, calculate the following: a.Cost Performance Index b.Estimate to Complete c.Estimate at Completion
What is the probability of completion of the project before week 42?
How do we estimate the likelihood of a project being finished by a certain date? In this calculation, what assumptions are made?
Embassy Club Condominium, located on the west coast of Florida, is undertaking a summer renovation of its main building. The project is scheduled to begin May 1, and a September 1 (17-week) complete date is desired. The condominium manager identified the following renovation activities and their estimated times: A. Draw a project network. B. What are the critical activities? C. Will the project be completed by September 1?
Gabrielle Kramer, owner of Pet Paradise, is opening a new store in Columbus, Ohio. Her major concern is the hiring of a manager and several associates who are animal lovers. She also has to coordinate the renovation of a building that was previously owned by a chic clothing store. Kramer has gathered the data shown in Table 7.14.a. How long is the project expected to take?b. Suppose that Kramer has a personal goal of completing the project in 14 weeks. What is the probability that it will happen this quickly?
The optimistic duration for a project is 10 weeks. The worst case estimate is 22 weeks, and the most likely duration is 13 weeks. Using 2 sigma estimates and PERT, what is the range of the duration estimate? 12 to 16 weeks 13 to 17 weeks 10 to 18 weeks 11 to 19 weeks
a) Determine the expected completion time and variance for each activity. b) Determine the total project completion time and the critical path for the project. c) Determine ES, EF, LS, LF, and slack for each activity. d) What is the probability that Kelle Carpet and Trim will finish the project in 40 days or less?
The fo llowing is a table of activities associated with a project at Rafay lshfaq's software firm in Chicago, their durations, and what activities each must precede: a) Draw an AOA diagram of the project, including activity durations.b) Define the critical path, listing all critical activities in chronological order.c) What is the project completion time (in weeks)?d) What is the slack (in weeks) associated with any and all noncritical paths through the project?
The critical path IS A-D-G-H and the expected project completion time IS 21 days. With these answers in mind... What is the probability of completing this project within 22 days? (The answer is not 65.17 or 62.17!) Thank you!

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a. What is the cost variance? b. What is the schedule variance? c. What is the cost performance index?