Solution

In the above graph the red curve is for the values of PV, the blue curve is for EV values and the green curve is for the AC values.

B). In the first 15 weeks the project was slower than the planned schedule, after the 20th week the project gets faster but the values of EV was on schedule throughout the project.

C). In the first 10 weeks, the project was under budget and after 20th week the project was over than the planned budget.

D). In the 15th week the values of PV,EV and AC were 18,15 and 12 respectively in thousand dollars, that sums 45 which is the planned value for the 15th week and hence there was not any gain or loss in the 15th week.

E). On week 25 the values of PV were under the planned schedule and the values of EV were exact as planned schedule and the values of AC were over the planned schedule.

Question 2: (13 marks)

Discuss five approaches to reducing the critical path.

Which is the most effective? And why?

Which is the most difficult to achieve? And why?