Homework answers / question archive / Project Execution (Individual project) Project Execution Fall 2021 Page 1 of 4 Overview of the Project Execution, Tracking, and Changes assignment Your job as Project Manager just got interesting

Project Execution (Individual project) Project Execution Fall 2021 Page 1 of 4 Overview of the Project Execution, Tracking, and Changes assignment Your job as Project Manager just got interesting

Project Management

Share With

---

Project Execution

(Individual project)

Project Execution Fall 2021 Page 1 of 4

Overview of the Project Execution, Tracking, and Changes assignment

Your job as Project Manager just got interesting. You have spent considerable time getting ready to

actually launch the project and now it is show time! The customer has signed off on spending a

significant amount of money and you need to keep things on schedule and within budget. Managing

those elements are not easy without tools. Fortunately, you are going to learn how to employ earned

value management for tracking project progress and determining when corrective action is needed (and

what it should be).

First, read the "Managing the Budget (EVM)" topic in the "Budget Planning" e-Book (Week 8 →

Readings). It covers all the aspects of earned value you will learn about in this assignment.

Project Background

This assignment will use the Time Sharing System from "How to Build Work Breakdown Structures"

(Week 1 → Readings). The customer has signed off on the project and it is now ready to launch. Your

team includes eight resources made up of Project Manager (that is you!), Analysts, Developers, and

Testers. The project is planned to start on July 11th, finish on November 30th, and cost $251,335.

Once into execution, you will see some changes (surprises) come up that affect the schedule. Since

earned value is calculated from data within the schedule1

, that whole picture will change as well. The

Excel sheet is pre-loaded with data from schedule snapshots taken at six different points during project

execution.

NOTE: There are two parts to this assignment.

Part 1 - Enter Earned Value data into Microsoft Excel

Open the Excel file, "Earned Value Chart" (Week 8 → Assignment).

Several columns are already populated, so you do not have to change them (they are locked down). The

Status Date column shows when the snapshots were taken. The three cost columns - Planned Value

(PV), Earned Value (EV), and Actual Cost (AC) are values calculated by Microsoft Project. The Budget at

Completion (BAC) is a static value, equal to the cost that the customer agreed to pay your company. It

only changes if the customer agrees to a contract change, which will not happen in this scenario.

Project Execution (Individual project) Project Execution Fall 2021 Page 2 of 4 The Schedule Performance and Cost Performance columns are for you to fill in (from a drop-down list): Using the cost columns in each of the five open rows, pick the correct value for Schedule Performance and Cost Performance. The eBook discusses the relationship between PV and EV for Schedule Performance, and between EV and AC for Cost Performance. This will help you compare values in the cost columns and select the right values for Schedule and Cost Performance. The rest of the columns to the right of Budget at Completion all use a formula for calculating the correct value. All of the formulas are explained in the eBook. Once you have the correct formula, use it to compute the correct value until you have completed all five rows (the first row is prefilled with zeros). If you are proficient with Excel formulas, feel free to use them instead of calculating the answers manually. IMPORTANT: The submission file should be named as "LastnameFirstname" "Deliverable for" "Project Execution", such as: MylastnameMyfirstname Earned Value for Project Execution.xlsx Part 2 - Answers to Questions in Microsoft Word Open a Microsoft Word document. Copy the following questions and paste them into the document, then answer the following questions. Question 1: Explain the relationship between PV and EV for Schedule Performance, i.e., when one is higher (or lower) than the other, how does Schedule Performance change? Question 2: What performance factor does SPI affect? Explain what SPI of more (or less) than one means. Question 3: Explain the relationship between EV and AC for Cost Performance. When one is higher (or lower) than the other, how does Cost Performance change? Question 4: What performance factor does SPI affect? Explain SPI of more (or less) than one means.

For the following questions, use formula notation. Do not explain the answers in text form. Question 5: What formula did you use to calculate CV? Question 6: What formula did you use to calculate SV? Question 7: What formula did you use to calculate CPI? Question 8: What formula did you use to calculate SPI? Question 9: What formula did you use to calculate EAC? Question 10: What formula did you use to calculate ETC (assuming that cost variance is typical)? Formatting Your Questions Document • Create an APA format title page that includes: The title of report (Questions for Project Execution), your name, Course and Section number and date (use assignment due date); do not include graphics or themes. • No running header required for this document. • The body of the paper should be double spaced (or 1.5"), not to exceed 5 pages. • Answers should be formatted as normal sentences (no numbering, not a run-on sentence as part of the question, no indenting). • Use 1" margins on all sides. • Font should be 11-point Calibri, 11-point Arial, 10-point Lucida Sans Unicode, 12-point Times New Roman, 11-point Georgia, or 10-point Computer Modern. • Font should remain consistent throughout the paper, i.e., not changing from one font to another. • Use at least one external reference and one from the course content (from the class reading content, not the assignment instructions or case study itself) with APA formatted citation and reference. For information on general APA format and specifics related to citing from the class content, refer to Content → Course Resources → Writing Resources. Resources must not use Wikipedia, general information sites, blogs, or discussion groups. • The list of References must be its own page at the end of the document and it must be in APA format, i.e., double spaced, .5" hanging indent. No more than 10% of the paper may be in the form of a direct citation from an external source. All in-text citations must appear in the References list and all entries in the References list must be used as in-text citations. • Run Microsoft Word's grammar/spell checker; there should be no errors in grammar, verb tenses, pronouns, spelling, punctuation, first person usage, or contractions. • Submit your paper as a Word document, or a document that can be read in Word.