Time and Cost Monitoring and Control Part 2

Time and Cost Monitoring and Control Part 2

Time and Cost Monitoring and Control Part 2 – Quiz Time Remaining: Question 1. 1. (TCO B) Using the network below and the additional information provided, find (a) the crash cost per day per activity; (b) which activities should be crashed to meet a project deadline of 12 days at minimum cost; and (c) what the extra cost is to crash the project. Activity Normal Time Crash Time Normal Cost Crash Cost A 5 3 $300 $350 B 3 2 $250 $295 C 6 4 $400 $540 D 5 3 $150 $270 (Points : 20) Question 2. 2. (TCO E) The following information is extracted from a project to develop a state-of-the-art alternative power energy storage device. Activity Duration Predecessors Resources A 4 days — 1 research engineer B 3 days A 1 marketing specialist C 5 days A 1 design engineer D 3 days A 1 design engineer E 3 days B 1 prototype builder F 2 days D 1 test engineer The owner has stipulated that in order to provide continuity throughout the project, the same individual must handle all activities under his or her discipline. Activities on this project cannot be split. (a) Identify any resource conflicts in the above project. State the activities involved, the time frame of the conflict(s), which resources are involved, and the quantity required. (b) Given the owner’s stipulation regarding project continuity and the need to minimize project duration, how can this conflict be resolved? What will be the effect on the project duration? (Points : 20) Question 3. 3. (TCO F) The following data were obtained from an information systems project to upgrade and expand a local area network. Activity Duration Predecessors Task Budget A 3 days — $4,920 B 6 days — $7,680 C 3 days A $15,140 D 2 days B $3,980 E 3 days B $5,630 F 2 days C and D $2,270 At the end of Day 7, the status of the project is as follows. Activity % Complete Actual Cost A 100% $4,200 B 100% $8,740 C 100% $18,250 D 75% $2,600 E 10% $560 F 0% $0 (a) Calculate the cost and schedule variances and indexes for Tasks A, B, C, D, and E. (b) As project manager, write a brief summary of the status of the project at this time. (Points : 20) Question 4. 4. (TCO B) You are project manager for three different projects. Project A: This project is in the execution stage of the project. It is behind schedule by 6 weeks; it was scheduled to be completed in 10 weeks. The sponsor is desperate to accomplish something on this project. The budget is limited to the original amount, and all soft predecessors have already been removed. Project B: This project is behind schedule by 10 weeks. It was to have been completed in 2 months. The sponsor has additional funds to help complete the project on time if needed but does not want to increase risk to the project. Project C: This project is scheduled to take 18 weeks to complete. You are in the planning stage of the project. You need to reduce the schedule for this project by 5 weeks. This project has a number of predecessors that were created by the project team’s preference. The sponsor insists on having all the work done on time without unduly increasing risk or costs to the project. For each of the project above, choose an appropriate schedule compression technique. Explain your choice. (Points : 20) Question 5. 5. (TCO F) Given the following information, calculate the CV, SV, CPI, and SPI for this project. Also provide recommendations to improve the project’s performance if needed. Activity A: This activity is complete. It was completed in 6 weeks; it was supposed to be completed in 5 weeks. The original budget for this activity was $400,000; in the end, it cost $450,000. Activity B: This activity is 50% complete. Its original budget was $100,000. The costs to date are $55,000. The original project plan had this activity scheduled for 5 weeks; currently it is entering its third week. Activity C: This activity is 75% complete. Its costs so far are $100,000. It is entering Week 4 of 5. It was planned to cost $100,000 when completed. Activity D: This activity is not started yet; it will start in 2 weeks. It is planned to cost $400,000. Its costs to date are $0. (Points : 20) Time Remaining:

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