Develop procurement management plan (including current market analysis, identification and selection of suitable suppliers by using the selection matrix, selection of types of contract for each supplier, risk assessment on each contract and prioritising these risks)

Develop a stakeholder communication management plan which identifies ten stakeholders, project info needs, stakeholder info needs, communication methods and timing to communicate with these stakeholders (only communication matrix)

The figures used in Earned Value Analysis provide measures to indicate the status of a project

incorporating measures for time, cost and scope. The key values are Earned Value, Planned Value

and Actual Cost. The following calculations have been made for a project:

Budget at Completion (BAC)

$290,000

Time Estimate

12 months

Earned Value (EV)

$65,000

Planned Value (PV)

$80,000

Actual Cost (AC)

$79,000

a) Calculate cost and schedule variances, cost and schedule performance indices, estimate to

complete, estimate at completion and to complete performance index (5 marks)

b) What do these figures (varirance, performance indices and estimates) indicate?

(10 marks)

c) If you are the Project Manager, what actions would you take based on these figures? (5 marks)