Write 5 paragraphs, 5 sentences each to describe the benefits and challenges of adopting MS Project...

Transcribed Image Text:

Write 5 paragraphs, 5 sentences each to describe the benefits and challenges of adopting MS Project Professional 2019 (or 2021.) Include a description of the tool's functionality and your overall impression of the tool. Use the "5 X 5 Essay" format (see next page for example and description). (20 points) 4. Earned Value. (20 points) Define the following: TBC, CBC, CAC, CEV, CPI, CV, and FCAC. What formulas are used to calculate CEV, CPI, CV, FCAC (3 methods for FCAC), and SPI? Assume you are the project manager and based on your customer's requirements you have determined there are four main tasks in a Dream Backyard project. Each phase has been assigned a TBC. Specifically, the customer wants a pool and spa built (Task 1 - $50,000); all plumbing, electrical, and mechanical installed (Task 2 - $20,000); a pool deck with planters and a raised fire pit (Task 3-$15,000); and landscaping and clean up (Task 4-$5,000). You estimate this will take 5 weeks to complete. The costs are budgeted as follows: Budgeted Per Week (in 000's) TBC 1 2 3 4 5 Task 1 50 15 20 10 5 Task 2 20 6 11 1 2 Task 3 15 9 4 2 Task 4 5 2 3 What is the total cumulative TBC? What is TBC at the end of week 4? Assume 4 weeks have passed and these are the actual costs per week: Actual Costs Per Week (in 000's) 1 2 3 4 Task 1 18 25 12 6 Task 2 5 6 3 Task 3 3 0 5 Task 4 2 What is the CAC at the end of week 4? Below is the cumulative percentage of work complete per task per week: Cumulative Percentage Complete 1 2 3 Task 1 40 62% 85% 100% Task 2 25% 75% 90% Task 3 7% 7% 45% Task 4 10% What are the CEV, CPI, and CV at the end or week 4? What is the SPI? FCAC (3 Methods) Assume the project continues to completion with no changes to the CPI, what is the expected FCAC? Is this under or over budget? Assume the project continues based on its original budgeted costs, what is the expected FCAC? Is this under or over budget? Using the SPL, is this project is on schedule? Bonus points (+5): Assume the project continues based on its original budgeted cost except that there is a $7,500 change order from the customer for an outdoor kitchen to be added to Task 3. What are the new expected FCAC's? Do you think it can still be finished in the 5- week time period? Why/why not? Write 5 paragraphs, 5 sentences each to describe the benefits and challenges of adopting MS Project Professional 2019 (or 2021.) Include a description of the tool's functionality and your overall impression of the tool. Use the "5 X 5 Essay" format (see next page for example and description). (20 points) 4. Earned Value. (20 points) Define the following: TBC, CBC, CAC, CEV, CPI, CV, and FCAC. What formulas are used to calculate CEV, CPI, CV, FCAC (3 methods for FCAC), and SPI? Assume you are the project manager and based on your customer's requirements you have determined there are four main tasks in a Dream Backyard project. Each phase has been assigned a TBC. Specifically, the customer wants a pool and spa built (Task 1 - $50,000); all plumbing, electrical, and mechanical installed (Task 2 - $20,000); a pool deck with planters and a raised fire pit (Task 3-$15,000); and landscaping and clean up (Task 4-$5,000). You estimate this will take 5 weeks to complete. The costs are budgeted as follows: Budgeted Per Week (in 000's) TBC 1 2 3 4 5 Task 1 50 15 20 10 5 Task 2 20 6 11 1 2 Task 3 15 9 4 2 Task 4 5 2 3 What is the total cumulative TBC? What is TBC at the end of week 4? Assume 4 weeks have passed and these are the actual costs per week: Actual Costs Per Week (in 000's) 1 2 3 4 Task 1 18 25 12 6 Task 2 5 6 3 Task 3 3 0 5 Task 4 2 What is the CAC at the end of week 4? Below is the cumulative percentage of work complete per task per week: Cumulative Percentage Complete 1 2 3 Task 1 40 62% 85% 100% Task 2 25% 75% 90% Task 3 7% 7% 45% Task 4 10% What are the CEV, CPI, and CV at the end or week 4? What is the SPI? FCAC (3 Methods) Assume the project continues to completion with no changes to the CPI, what is the expected FCAC? Is this under or over budget? Assume the project continues based on its original budgeted costs, what is the expected FCAC? Is this under or over budget? Using the SPL, is this project is on schedule? Bonus points (+5): Assume the project continues based on its original budgeted cost except that there is a $7,500 change order from the customer for an outdoor kitchen to be added to Task 3. What are the new expected FCAC's? Do you think it can still be finished in the 5- week time period? Why/why not?