Week 3 Assignments
Discussion 1)
Describe the linkages of the work breakdown structure and the time-phased budget to arrive at an earned value analysis. What is the impact on earned value if the cost estimation is significantly lower because of low estimates or specification changes in the project? Provide examples of projects you have been involved with or read about that may have had this problem.
Problems 2)
Of the three problems below, choose and solve one problem. Show your work. Along with your answer, define each term and explain the significance (meaning) of the solution.
1. During a project, Earned Value Analysis is performed and gives the following numbers:
EV: 523,000; PV: 623,000; AC: 643,000.
Which results are correct?
A. CV: +120,000; SV: +100,000
B. CV: +100,000; SV: +120,000
C. CV: -100,000; SV: -120,000
D. CV: -120,000; SV: -100,000
2. You found the following Earned Value Analysis information for a recently closed out project:
SPI = 0.7, CPI = 1.0
A. The project has been cancelled while it was executed. At that time the project was behind schedule and on budget.
B. The project’s deliverables have all been finished. The project came in ahead of schedule but on budget.
C. The project’s deliverables have all been finished. The project came in on schedule but over budget.
3. You are assigned as the project manager to a project which had a one-time cost variance in the past caused by unexpected rework which has meanwhile
been finished.
You perform Earned Value Analysis and find the following results:
EV: 250,000; PV: 200,000; AC 275,000
BAC is 500,000.
What is right?
A. EAC = 550,000
B. EAC = 525,000
C. EAC = 500,000
D. EAC = 425,000
Assignment 3)
Review the following two ProQuest articles on the benefits of earned value management (EVM) practices and myths. In a Three- to Four-page paper (not including the title and reference pages), compare and contrast the similarities and differences of the project success stories and myths in both articles. Make sure to present clear examples from both articles to describe the real-world benefits of EVM. Conclude with a discussion of a project you have been involved with that could have improved with a detailed project cost control described in these articles.
Article number one:
Visitacion, M. (2007, October). Exemplary EVM at Lawrence Livermore Labs. Contract Management, 47(10), 75-77. Retrieved from ProQuest Database.
Article Number two:
Visitacion, M. (2007, September). Debunking commonly held EVM myths. Contract Management, 47(9), 51-52. Retrieved from ProQuest Database.
Your paper should be formatted according to APA style as outlined in the approved APA style guide and should cite at least the two above mentioned articles in addition to the textbook.
