Project Mangement HWK, Essay Example

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)

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:

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.