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In: Computer Science

a)Explain the relationship between the cost performance index and schedule performance index. b)What is the purpose...

a)Explain the relationship between the cost performance index and schedule performance index.

b)What is the purpose of the work package? Who will create it?

Solutions

Expert Solution

a) Cost performance Index and Scheduling perfomance index are basically methods of calculating the efficiency of a project. It is due to these estimates we would have clear idea regarding cost estimation and also making sure that the project is going on as per planned schedule. These index helps us a lot in mitigating the future risks of the project.

Cost performance index(CPI) basically measures the cost efficiency of a project.

CPI = earned value / acutal cost. If the ratio is less than 1 then the project is over budget.

Schedule Performance Index (SPI) basically measures the scheduling efficiency of the project.

SPI = earned value / planned value. If the ratio is less than 1 then the project is running late.

b) Work package is basically the lowest unit of the work breakdown structure. The huge project gets divided into small pieces of work for the team to work on each sub parts. It is usually done when scheduling for a project and gets overseen by project manager.

venereology answered 6 months ago
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