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Project Mangement HWK, Essay Example

Pages: 1

Words: 279

Essay

Scheduling and Crashing

Scheduling and Crashing

Draw the network

Find the critical path

Earned Value and Variances

A project to develop a new desktop stapler has an actual cost in month 17 of $350,000, a planned cost of $475,000, and a value completed of $300,000. Find the cost and schedule variances and the three indexes.

($000)

Month AC PV EV
17 $ 350  $ 475  $ 300
CV $ (50) Unfavorable
CPI  0.86
SV $ (175) Unfavorable
SPI  0.63
CSI  0.54 Unfavorable

What is the status of the project from a schedule and budget perspective?

Project is delay, and cost are overrunning.

Critical Ratios

Calculate the critical ratios and comment of which activities have a problem:

Activity Actual Schedule Budget Actual CR Comment
A 4 4 60 40 1.5 Investigate Immediately
B 3 2 50 50 1.5 Investigate Immediately
C 2 3 30 20 1 Ignore
D 1 1 20 30 .67 Investigate Immediately
E 2 4 25 25 .5 Investigate Immediately

Explain under what circumstances the critical ratio may provide some misleading results and how you would prevent this situation from occurring.

A is on schedule and ahead of budget. B is progressing ahead of schedule, and is within range in cost. C seems to be within normal range, but both cost and progress are out of range. D is behind in cost but on track with progress. E is ahead of schedule and within range in cost. What often appear to be out of range are actually ahead of schedule. There is really only one cost overrun. The overall health of the project is actually pretty good.

Time is precious

Time is precious

don’t waste it!

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