ICT508: EDUStream Earned Value Management Progress Report

This assignment presents an Earned Value Management (EVM) analysis of a project, utilizing a Gantt chart and progress report data from Week 10. The analysis includes calculations of key performance indicators such as CPI, CV, SPI, and SV to assess cost and schedule implications. The document identifies variances, including over-budget and behind-schedule activities, and calculates BAC, EAC, VAC, and TCPI. A comprehensive progress report is provided to the Project Sponsor, outlining issues, and offering actionable recommendations for managing the project effectively, including suggestions for additional funding and budget adjustments to ensure project success. The assignment also references relevant literature on project management.

Earned Value Management

EDUSTREAM EARNED VALUE MANAGEMENT (EVM)
Activit
y
Predecessor Duration
(Weeks)
Cost $ (Per
Week)
Budget
Cost (BC)
Activity Use cell colour fill in the table cells provided below to build your Gantt Chart (Precedence Diagram
Method) for this project. It will help if you colour the duration in dark blue and the completed in red)
A - 2 $4,000 $8,000 A
B A 4 $3,000 $12,000 B
C - 4 $1,000 $4,000 C
D A 4 $5,000 $20,000 D
E C 4 $2,500 $10,000 E
F A 5 $1,000 $5,000 F
G C 10 $5,000 $50,000 G
H D 5 $3,000 $15,000 H
I F 4 $2,000 $8,000 I
J D 5 $6,000 $30,000 J
K E 4 $4,000 $16,000 K
L A 10 $4,500 $45,000 L
M I 4 $2,500 $10,000 M
BAC Week 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
The progress report at the beginning of Week 10 (as shown by the red line in the Gantt Chart above), gives the information provided in the left-hand table
below. From this information perform the calculations listed in the table provided below and to the right. Once you have done this, you need to write a short
progress report to the Project Sponsor listing and explaining the issues and making recommendations. This is provided on the second page of this document.
Progress Report Week 10 Cost Implications Schedule Implications
Activity % Complete Incurred
Cost
Activity AC
(ACWP)
EV
(BCWP)
PV
(BCWS)
CPI CV SPI SV
A 100% $9,000 A $8,000 $9,000 $8,000 1.125 $1,000 1.125 $1,000
B 100% $11,500 B $12,000 $11,500 $12,000 0.958333 ($500) 0.958333 ($500)
C 100% $4,500 C $4,000 $4,500 $4,000 1.125 $500 1.125 $500
D 100% $22,000 D $20,000 $22,000 $20,000 1.1 $2,000 1.1 $2,000
E 75% $8,000 E $7,500 $8,000 $7,500 1.066667 $500 1.066667 $500
F 60% $3,000 F $3,000 $3,000 $3,000 1 $0 1 $0
G 50% $28,000 G $25,000 $28,000 $25,000 1.12 $3,000 1.12 $3,000
H 40% $4,500 H $6,000 $4,500 $6,000 0.75 ($1,500) 0.75 ($1,500)
I 0% $0 I $0 $0 $0 0 $0 0 $0
J 80% $23,000 J $24,000 $23,000 $24,000 0.958333 ($1,000) 0.958333 ($1,000)
K 0% $0 K $0 $0 $0 0 $0 0 $0
L 60% $29,000 L $27,000 $29,000 $27,000 1.074074 $2,000 1.074074 $2,000
M 0% $0 M $0 $0 $0 0 $0 0 $0
Total $8,000 $9,000 $8,000 1.125 $1,000 1.125 $1,000
Provide the following analysis information

What are the implications in relation to cost (e.g. are
we over budget, under, budget, etc.)? Explain this in
terms of CPI & CV.
In some cases, the cost is over budget and under the budget. For activities B, H and J, the cost is under the
schedule while in case of other activities, the cost is over the budget.
What are the implications in relation to schedule (e.g.
are we ahead or schedule or behind schedule)?
Explain this in terms of SPI & SV.
In some cases, the schedule is behind and ahead. For activities B, H and J, the schedule is over the
schedule while in case of other activities, the schedule is behind.
What was the Budget at Completion (BAC)? (Note:
This is the sum of the Budget Cost (BC) as shown in
the first table on Page 1).
$233,000
What is your Estimate at Completion (EAC)? $22,761
What is the Variance at Completion (VAC), and what
are the implications of this result?
$210,328.91
What is the level of effort required to complete the
tasks using TCPI in relation to BAC? Express this as
a TCPI numericand explain the implications.
0.937823834
What recommendations for managing this situation
would you provide to the Project Sponsor? Think
about this realistically. Remember if you need more
money/effort you will need to justify this and explain
your approach in enough detail for them to
understand what needs to be done and how you will
manage the situation.
It is recommended that the project sponsor should collect extra funds for the project and the project
manager should add extra expenses to the final project budget plan.

Bibliography
Nicholas, John M., and Herman Steyn. Project management for engineering, business and technology. Routledge, 2017.
Lock, Dennis. The essentials of project management. Routledge, 2017.
Verma, Abhishek, and Priyadarshi Sawant. "Developing Cost Plan of a Hostel Building." (2019).
Harrison, Frederick, and Dennis Lock. Advanced project management: a structured approach. Routledge, 2017.