Practice Question EVM:A simple project consists of five tasks and is scheduled to take 13 weeks to complete. The actualstatus of the project at the end of week 9 is given in the following table:Project PlanTask | Duration Start(weeks)Actual statusActualcurrent cost completeS350S225$475$300EndBudgetPercentweek week$300100%100%$250$450$600$500B2100%75%75%C447.9.13D368$300a) For each activity, compute the ACWP, BCWP, BCWS and add the columns to get theprojected total. Record your answers in the table below.TaskACWPBCWPBCWSEb) Calculate: CV,SV,CPI, and SPI:

ACWP = The actual cost of work performed is the cost actually incurred & recorded in completing…

Answered: Practice Question EVM: A simple project…

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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Only typed explanation The table below contains data for the installation of new equipment in a manufacturing process at Excello Corporation. Your company is responsible for the installation project. Indirect costs are $12,000 per week, and a penalty cost of $10,000 per week will be incurred by your company for every week the project is delayed beyond week 14. What is the shortest time duration for this project regardless of cost? What is the minimum total cost associated with completing the project in 14 weeks? What is the total time of the minimum-cost schedule?
Question 2 2.1 Explain what resource-constrained project planning is 2.2 Explain what is meant by resource levelling or smoothing 2.3 Describe why and when resource levelling or smoothing is used 2.4 Explain how resource levelling keeps a project on schedule
You are the manager of a project to improve a billing processat your firm. Table 7.7 contains the data you will need toconduct a cost analysis of the project. Indirect costs are $1,600per week, and penalty costs are $1,200 per week after week 12.a. What is the minimum-cost schedule for this project?b. What is the difference in total project costs between the ear-liest completion time of the project using “normal” timesand the minimum-cost schedule you derived in part (a)?
Project 1-3: Creating a Project Schedule for Hiring a New EmployeeIn this project, you will create a project schedule for the process of hiring a new employee for your department. GET READY. OPEN a new blank project schedule. Set the project start date to be October 21, 2019.Enter the following tasks and durations:Task DurationWrite job description 2dNotify departmental recruiter 1dPost job internally 5dPost job externally 5dCollect résumés 10dReview résumés 5dSet up interviews 3dConduct interviews 8dSelect candidate 1dMake offer milestoneAssign a finish-to-start relationship to all the tasks.Change the relationship between tasks 3 and 4 to a start-to-start relationship.Auto-fit all the columns and rows.Change all tasks to the Automatically Scheduled mode.Use the statistics button on the Project Information dialog box to determine the current project duration.SAVE the project schedule in the solutions folder for this lesson as Hiring Employee xxd where…
Need help solving C and D. D) Freeze Inc.’s CEO established as a goal for top management to complete the project on or before 22 weeks. What is the probability that this project will be completed on or before 22 weeks?
Question 2 Problem Statement: Project Control and Monitoring You are working on a manufacturing project having a budget of PKR 3,600,000 and expected time of its completion is one year. There is an ideal condition that your budget and work are evenly spread across the duration of the project that is twelve month. At the end of forth month, the senior management has called a meeting and invited all the stakeholders to brief about the status of the project. You being the PM of this project is giving the presentation to all the attendees and informed that project is on schedule and PKR 1,800,000 have already been spent on the project. Required: Calculate Cost and Schedule Variance What is SPI and CPI of the project? Estimate at completion and Estimated time to complete?
What is the relationship between the earliest start time (EST) of an activity and the earliest completion time (ECT) of the activity? a. EST + Activity time = ECT b. EST × Activity time = ECTc. EST = ECT d. None of these statements is correct.
Week 6 Status Report When reporting on the progress and status of a project, your Stakeholders want to know what potential pitfalls or obstacles you have identified, and what your plan is for dealing with them. Toward that end, this week, you are to add an additional section to your Status report. The new section should look as follows: Open Risk Probability Impact Response Type Response Plan Identify at least two "risks" that could impact your ability to complete this week's assignments, and complete the table. These are NOT risks pertaining to the Running Case - they should be things which might impact YOU this week and cause your work to be late. (You can make some up if you honestly don't have any...) Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Scope Creep: Select one: a. is a goal of a Six Sigma Project b. is a goal of a Six Sigma Problem Statement c. occurs when Six Sigma Teams look to make infinite perfections on a process d. occurs when Six Sigma Teams begin to reach for processes or problems that lie outside of the original problem. e. A and B f. C and D
Follow up to previous question: 3) A company decides to plan a project, with activities, precedences and random duration statistics given in the following table: Activity Immediate Predecessors Duration Minimum (weeks) Duration Mode (weeks) Duration Maximum (weeks) A none 2 5 9 B A 1 6 8 C A 3 5 12 D B 2 4 12 E B, C 4 6 8 F B 6 7 8 G D, E 1 2 6 H F, G 4 6 16 Questions: 1) What method should be used? Compute the mean and variances for each activity and add them to the table above. 2)Draw the project network and label the arcs with the activity name. 3) Assuming that the critical path is AàBàP1àEàGàH, compute the probability that this path duration is between 28 weeks and 32 weeks. 4) Assuming that the critical path is AàBàP1àEàGàH, compute the number of weeks within which the project will be completed with probability 0.95.
ACTIVITY Immediate Predecessor Normal Duration (wks) Minimum Duration (wks) Crash Costs ($/wk) A --- 4 4 --- B --- 3 2 100 C A, B 5 3 200 D C 4 4 --- E C 2 1 300 F C 1 1 --- G D 3 2 200 H E 1 1 --- I F 1 1 --- J H, I 3 1 100 What is the slack time for Activity F and the late start for Activity H? Group of answer choices 2 weeks, 11 weeks 1 weeks, 11 weeks 3 weeks, 10 weeks 2 weeks, 12 weeks None of the above are correct.
1. Critical Thinking Questions Mauricio, a project manager at a reputed firm, has been assigned to handle a new project that the firm has received. This project involves a lot of scheduling that has to be handled by Mauricio. Mauricio estimates that the first module of the project could be completed in as few as 15 days or could take as many as 25 days, but most likely will require 20 days. What is the 20 day estimate called? a. logistical estimate (L) b. worst-case estimate (W) c. best-case estimate (B) d. probable-case estimate (P) 2. Project reporting, an activity of a project manager, _____. a. consists of staffing, which includes selecting the project team and assigning specific tasks to team members b. involves the creation of a specific timetable, usually in the form of charts that show tasks, task dependencies, and critical tasks that might delay a project c. includes informing management, users, and the project team about…

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