Problem:
You are the project manager for creating a new printer driver. There are four modules in the driver. Each module is to take one day and is budgeted for $1,000 per module. The modules are scheduled to be completed sequentially. Today is the end of day 3 and your senior management has asked for a progress report.
Using the project status chart below, calculate the values required and provide a verbal interpretation of what the answer means.
|
TASK
|
DAY 1
|
DAY 2
|
DAY 3
|
DAY 4
|
STATUS AT END OF DAY 3
|
|
Module 1
|
S--F
|
|
|
|
Complete, spent $1,000
|
|
Module 2
|
|
S--PF
|
--F
|
|
Complete, spent $1,200
|
|
Module 3
|
|
|
PS-S-PF
|
|
Half done, spent $600
|
|
Module 4
|
|
|
|
PS-PF
|
Not yet started
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S – Start
F – Finish
PS – Planned Start
PF – Planned Finish
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WHAT IS:
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CALCULATION
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ANSWER
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INTERPRETATION OF THE ANSWER
|
|
BCWS
|
1,000 + 1,000 + 1,000
|
3,000
|
We should have done $3000 worth of work.
|
|
BCWP
|
2,800 / 3,000
|
93%
|
93% of the work IS done on the current budgeted basis.
|
|
ACWP
|
1,000 + 1,200 + 600
|
2,800
|
We have done $2800 worth of work.
|
|
BAC
|
1,000 + 1,000 + 1,000 + 1,000
|
4,000
|
We budgeted $4,000 for the total job.
|
|
CV
|
BCWP - ACWP
93% - 2,800
|
2,799.07
|
NEGATIVE is over budget, POSITIVE is under budget.
|
|
CPI
|
BCWP / ACWP
93% / 2,800
|
.033
|
We are getting .033 cents out of every $1.
|
|
SV
|
BCWP - BCWS
93% - 3,000
|
2,999.07
|
NEGATIVE is behind schedule, POSITIVE is ahead of schedule.
|
|
SPI
|
BCWP / BCWS
93% / 3,000
|
.031
|
We are progressing at .031% of the rate originally planned.
|
|
EAC
|
1,000 + 1,200 + 600 + 600 + 1,200
|
4,600
|
We expect the TOTAL project to cost $4,600.
|
|
ETC
|
600 + 1,200
|
1,800
|
From this point on, we expect the project to cost $1,800 more to finish.
|
|
VAC
|
4,600 - 4,000
|
600
|
We are currently around $600 under budget.
|
Given the previous, how complete is the project? Give three answers based on the three rules presented in the slide below.
A project manager can adopt one of the following rules for a project to report percent complete:
50/50 Rule — A task is 50% complete when It begins and gets credit for the last 50% only when it Is completed.
20/80 Rule — A task is considered 20% complete when it begins and gets credit for the last 80% only when it is completed.
0/100 Rule — A task does not get credit for partial completion, only full completion.