We setup a baseline plan. Now some time has pass since the project started, it's time to check on the progress, make any adjustment to our plan, and take necessary measures to keep our project on track. The methods we use to analyze project progress and to detect problems are called EVA - earned value analysis. As a follow-up, Task 4 starts with the baseline file we created.
To reduce the scope of the assignment, we only enter the actuals for the activities under the first summary task (initiating). Assume that tasks 1, 3, 4, 6, 7, 8 were all completed on schedule. But task 5 was finished three days later than scheduled. Do an earned value analysis for the activities under initiating.
Deliverables
Answer the following questions[1]:
1. What are the BCWS, BCWP, ACWP, SV, CV, EAC, BAC, CPI and SPI for task 5? Briefly explain what do those numbers mean?
2. What are the BCWS, BCWP, ACWP, SV, CV, EAC, BAC, CPI and SPI for the summary task (initiating)? Briefly explain what do those numbers mean?
Electronic file: 660_yourgroupname_control.mpp
PPT file: your team is ready to demonstrate how you perform this task using the ppt file.
[1] Note: BCWS (budgeted cost of work scheduled), BCWP (budgeted cost of work performed), ACWP (actual cost of work performed), SV (schedule variance), CV (cost variance), EAC (estimate at completion), BAC (budget at completion; baseline cost), CPI (cost performance index), SPI (schedule performance index). Use the MS Project Help facility to better understand what these metrics mean, how they are computed and how to interpret them.