What is the planned value of the entire project?

You are in charge of building a new office for your company. After some discus Show more Question 2 (10 marks) You are in charge of building a new office for your company. After some discussion with your builder you identified some of the key tasks the duration and the costs to complete the building. As you are a project manager you have decided to monitor the building progress using Earned Value Management (EVN). Answer the following questions using the following information ID Task Name Cost ($) Start Date Duration 1 Lay foundations 18000 November 1 2 weeks 2 Build frame 34000 November 4 weeks 3 Install pipes and electrical 10000 December 6 weeks 4 Make office water-tight 15000 February 8 weeks 5 Install internal walls and bathroom 20000 April 12 weeks 6 Install cabinetries 14000 July 4 weeks 7 Paint office 8000 August 2 weeks 8 Install light fixtures and appliances 9000 August 2 weeks NOTE: Assume that no task is scheduled to run concurrently e.g. Task 2 starts after Task 1 completes Task 3 starts only when Task 2 completes and so on. Also assume that each month is made up of exactly four weeks. What is the planned value of the entire project? [1 mark] The project manager has managed to keep cost to what was originally budgeted above. At this point the project has completed Task 4. Up to this point What is the planned value of the project? What is the actual cost (AC) of the project? Briefly explain how you derive the actual cost. What is the rate of performance (RP) for each task? Using the RPs obtained calculate the Earned Value (EV) Schedule Variance (SV) Cost Performance Index (CPI) and Schedule Performance Index (SPI) of the project. [1 + 1 + 1 = 3 marks] Unfortunately two trades resigned after Task 5 was completed and this caused the remaining tasks to exceed its original cost and schedule by 25% 30% 40% respectively. At the end of the project What are the CPI and SPI? How is the performance with respect to cost and time? Represent the Planned Value (PV) Earned Value (EV) and Actual Cost (AC) in a chart [1 + 1 + 4 = 6 marks] Show less

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