QUESTION 1 Your organization has signed a new project contract to install 12 electric generators. The Budget of the project is $120,000 ($10K per electric generator). The duration of the project is 12 weeks (1 electric generator per week). First scenario: At week 2: •3 electric generators installed. •$28,000 spent to date. Second scenario: At week 6: •5 electric generators installed. •$57,500 spent to date. According to the above scenarios, how are you going to answer the following questions? 1.Are you ahead or behind schedule? 2.How efficiently are you using your project’s time? 3.When is this project likely to be completed? 4.Are you currently under or over budget? 5.How efficiently are you using your resources? 6.What is the remaining work likely to cost? 7.What is the entire project likely to cost? 8.How much will you be under or over budget at the end?
QUESTION 1 Your organization has signed a new project contract to install 12 electric generators. The Budget of the project is $120,000 ($10K per electric generator). The duration of the project is 12 weeks (1 electric generator per week). First scenario: At week 2: •3 electric generators installed. •$28,000 spent to date. Second scenario: At week 6: •5 electric generators installed. •$57,500 spent to date. According to the above scenarios, how are you going to answer the following questions? 1.Are you ahead or behind schedule? 2.How efficiently are you using your project’s time? 3.When is this project likely to be completed? 4.Are you currently under or over budget? 5.How efficiently are you using your resources? 6.What is the remaining work likely to cost? 7.What is the entire project likely to cost? 8.How much will you be under or over budget at the end?
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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QUESTION 1
Your organization has signed a new project contract to install 12 electric generators. The Budget of the project is $120,000 ($10K per electric generator). The duration of the project is 12 weeks (1 electric generator per week).
First scenario: At week 2:
•3 electric generators installed. •$28,000 spent to date.
Second scenario: At week 6: •5 electric generators installed. •$57,500 spent to date.
According to the above scenarios, how are you going to answer the following questions?
1.Are you ahead or behind schedule ?
2.How efficiently are you using your project’s time?
3.When is this project likely to be completed?
4.Are you currently under or over budget?
5.How efficiently are you using your resources?
6.What is the remaining work likely to cost?
7.What is the entire project likely to cost?
8.How much will you be under or over budget at the end?
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