Question

Data for a project is given below:

Activity	Duration (months)	Precedence	Budget or Plnd. Cost	Percent Completed
A	3.00	-	15000	1.00
B	1.00	A	5000	0.00
C	2.00	A	10000	1.00
D	3.00	A	21000	0.50
E	2.00	B,C	32000	0.00
F	1.00	C	5000	0.00
G	1.00	C	5500	0.00

The project started on June 1^st. The project has a planned duration of 7 months.

Data below are planned cost and actual cost (spent) from June to November:

                        Planned                    Actual

Month                        Cost                          Cost

June               5000                           8000

July                5000                           8000

Aug                5000                           5000

Sept               5000                           5000

Oct                  12000                         12000

Nov                23000                         12000

Compute cost and schedule variances.

Compute critical ratio.

Based on current cost performance level, what is the estimated cost in completing the project?

Based on current schedule performance level, how much more time (in months) is needed to complete the project?

Answer 1

Cost Variances = EV-AC

Results are tabled below:

Thus, we need = 7-5 = 2 more months to complete the project.