Question

In: Operations Management

2.) You are managing a project to film 5 promotional videos to be posted on YouTube,...

2.) You are managing a project to film 5 promotional videos to be posted on YouTube, to promote one of the UI fraternities. Your project jas a BAC of $12,000. One of the tasks on the the critical path is to arrange fililming locations. The task has a BAC of $2,000. You have confirmed 4 of the 10 locations. The task is scheduled to take 2 weeks(10 days), and it is the end of day 2. You have spent $300 so far.

a. Identify the task's BAC, AC, EV and PV

b. Calculate SPI and CPI

c. What do the results tell you about the task's schedule and budget?

Solutions

Expert Solution

Project BAC

$12,000

Task BAC

$2,000

end of day 2:

confirmed locations out of 10

4

work completed

40%

money spent

$300

scheduled task time

10

days

a. Identify the task's BAC, AC, EV and PV

BAC (given)

$2,000

AC (given)

$300

EV (Earned Value = % of completed work X BAC)

$800

PV (Planned Value = (Planned % Complete) X (BAC))

$400

(as of the end of day 2, planned % complete = 2 days/10 day schedule)

b. Calculate SPI and CPI

SPI = EV/PV

2.00

CPI = EV/AC

2.67

c. What do the results tell you about the task's schedule and budget?

Here, CPI>1, A value of above 1 means that the project is doing well against the budgeted cost, hence task is running good on budget.

Schedule Performance Index (SPI), tells us how close actual work is being completed compared to the schedule

Here, SPI>1, A value of above one means that the project is doing well against the schedule.

formulae used:

keosha answered 1 year ago
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