Bottom-up cost estimating exercise (Module 3, pp 19-20)
Parametric cost estimate exercise (Module 3, pp. 43-44)
For the table below
Create a PERT/CPM chart
Compute project duration
Compute Latest Start, Earliest Start, and Float (Slack)
1. Using the cost data in the cost table above, create a cumulative cost curve comparing actual versus planned costs (Note: with the cumulative cost curve – also called the S-curve – you must cumulate the cost data. See More Info,
Module 3, p. 53.)
2. Using the schedule data in the schedule table above, create a Gantt chart comparing actual versus planned schedule performance.
3. Summarize in words what you see project status to be at this time. What do you predict regarding the final cost and final schedule for the project? Note, by looking at the schedule and cost day simultaneously, you are engaging in integrated cost/schedule control.
1. Using the 50-50 Rule, what is earned value for this project? (Put answer into the “Earned value” column in the table.)
2. Using the 0-100 Rule, what is earned value for this project? (Simply supply the number)
Using 0-100 rule, earned value is 1275
3. Note the discrepancy of earned value figures when using the 50-50 Rule and 0-100 Rule. Why is there a discrepancy? Which Rule should we use? Explain your rationale.
4. Using the 50-50 Rule earned value computation, what is schedule variance for the project as reported? (Put answer into the “Sched var” column in the table.)
5. What is the schedule performance index (SPI)? (Provide the number. What does this number mean?)
6. Using the 50-50 Rule earned value computation, what is the cost variance for the project as reported? (Put answer into the “Cost var” column in the table.)
7. What is the cost performance index (CPI)? (Provide the number. What does this number mean?)
8. If the total budget for this project is 5000, use CPI to compute estimate at complete (EAC).
9. Using the earned value information garnered from the above table, provide your boss a brief status report on project progress to date. Also, provide projections for future status.