Week 12 Project Status Report: Great Toys Smart Bear - Resource Cost

This project status report for the Great Toys Smart Bear project, dated June 24, 2018, evaluates the project's progress as of week 12. The report includes an earned value analysis, showing planned value (PV) at $121,920, earned value (EV) at $120,920, and actual cost (AC) at $132,740. Schedule variance (SV) is $1000, with a schedule performance index (SPI) of 0.99. Cost variance (CV) is $11,820, and the cost performance index (CPI) is 0.91. The budget at completion (BAC) is $234,120, and the estimate at completion (EAC) is $257,005. The variance at completion (VAC) is $22,885.88. The project is approximately 50% complete. The report also details the impact of changes on project duration and cost, particularly concerning tasks 2.7 and 2.12, and discusses resource leveling and its effects on the project timeline. Milestone statuses and budget summaries are provided, indicating a slight delay and cost increase primarily due to initial setbacks. Resource costs for various engineering roles are also outlined, totaling $224,520 in direct labor costs.

☒ I/we understand and agree to the following:
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Part A Question 3
a) Project Duration: Project Duration is 190 Days End Date: End Date of the Project is 3 Jan
2019
b) Duration Variation: Duration decrease by 30 days and duration after change is 160 days. End Date
after change: Updated End date is 17 Jan 2019
c) All the changes in the duration are because of introduction of an extra software engineer to the
task 2.7, because of this the overall duration of the project is decreased by 3 weeks.
d) Changes in the duration are depended upon the task if the task into a critical path then this will
affect the duration of the task is not then it does not affect the duration.
Part A Question 4
a) This is done using the following process Resource Go to Levelling option and Now Select Clear
levelling and then Select Level all Option.
b) This all done with the help of the resource levelling, presently no need to add the extra resources
into the schedule.
c) Impact over the duration is that it is increased by 10 days.
Part A Question 5
To: Mr Nielson
Cc: Project Manager,
From: Amer Khan
Date: 27-May-2018
Subject: MEMO for the resource cost of labour.
This Project COMPLETION DATE is 01 Feb 2019
Resources Cost is shown below.
Resource Name Cost
Electronics Engineers $32,400
Software Engineers $133,120
Mechanical Engineers $16,800
Test Engineers $34,200
Production Engineers $8000
Total direct labour costs: $224,520
This cost is after resolving all the resource over-allocation.
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Thank you
Amer Khan
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Impact of changes on overall project duration:
Change Impact
(longer, shorter
or no impact)
By how much Explanation
Change in person-weeks for
task 2.7
Longer. Duration
change by 5
days
This is due the task is over the project critical
path.
Change in person-weeks for
task 2.12
longer Duration
change by 5
days
This is due the task is over the project critical
path.
Change in duration for 5.2 No- impact No-changes This is not into the critical path of the project.
Assignment of both MEs to
task 3.3
No- impact No-changes This is not into the critical path of the project.
Impact of changes on overall project cost
Change Impact on
direct labour
costs
(more, less or
no impact)
By how much Explanation
Change in person-weeks for
task 2.7
More impact
on the project
Incremented
by $6400
The resources are increasing.
Change in person-weeks for
task 2.12
More impact
on the project
Incremented
by $3200
This is due to increase the resources.
Change in duration for 5.2 No impact on
the project
No changes No change in resources.
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Assignment of both MEs to
task 3.3
Less impact on
the project
Reduced by
$2800
Reduced by $2800.
Additional Notes:
Task 2.7: Start date of the Project is 04/06/2018, Finish date of the Project is 02-02-2019, and the
Cost of the Project is $44,800.
Task 2.12: Start date of the Project is 04/06/2018, Finish date of the Project is: 15-02-2018, Cost of
the Project is: $9600.
Task 5.2: Start date of the Project is 04/06/2018, Finish date of the Project is: 15-02-2018,
Task 3.3: Start date of the Project is 04/06/2018, Finish date of the Project is 15-02-2018.
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Project Name: Great Toys Smart Bear Status Report #1
Project Manager: Amer Khan
Status as of: 24/06/2018 End of Week: week 12
Earned Value Figures
PV EV AC SV SPI CV CPI BAC EAC VAC
$121920 $12092
0
$132740 $100
0
0.99 $1182
0
0.91 $234120 $25700
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$22885.88
Project Description
This project is all about the great toys smart bear, the project fully schedules and there are definitely
time and cost that are required to complete the entire project. There is the use of the status date to
find out the working of the project, at the status date the project is completed 50%.
Milestone Status
Milestone Description Date
scheduled
(baseline)
Date
Reached
M1 Project Start – 4/6/18 1 (start),
4/6/18
M2 Design review 8/13/18 8/13/18
M3 Final design review 2/1/19 2/1/19
M4 Launch review 2/15/19 2/15/19
P1 Proto design 11/15/18 11/15/18
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Status summary (schedule and budget)
Schedule
Planned finish date (from Gantt chart): Planned finish date is 15/02/2019
Current estimated finish date (from tracking Gantt chart): Project Estimated date is 15/02/2019
The planned cost to date: Project Planned Cost is $121,920
The earned value to date: Project Earned value is $120,920
The actual cost to date: Project Actual Cost is $132,740
Schedule Variance: Project Schedule Variance is $1000
Summary of schedule status:
1. The entire project is finished as per the time, but initially, this has some delay due to this
the project cost increases.
2. Task 1.1 and 1.2 are 100% completed and task 1.3 is 95 % completed, in case if we
consider that task 1,3 is 100% completed then the value of the SV is around $1000.
Budget
The actual cost to date: Project Actual Cost is $132,740
The earned value to date: Project Earned Value is $120,920
Cost Variance: Project Cost Variance is $11,820
CPI: 0.91
Summary of budget status:
1. There is some delay in the starting of the project, due to this the value of the CV is
$11,820.
2. The task is approximately 50% completed and due to this, the cost of the variance is
$20,000.
Explanations
All the cost must complete on time and the costing remains same as per the schedule.
Major changes or issues since last report
No Change
Risk watch:
No Change
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