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Presentation/PPT
27/08/2022
CHAPTER 07
Running Case
You and your team are continuing your work on the Global Treps Project. Your project sponsor, Dr. K. has asked you to refine the existing cost estimate for the project so you can evaluate supplier bids and have a solid cost baseline for evaluating project performance. Recall that your schedule and cost goals are to complete the project in six months for under $120,000. You planned to use up to $50,000 total to pay yourself and your team members, and your initial estimates were $30,000 for travel expenses, $20,000 for hardware and software, and $20,000 for organizing four events, including consultants, legal/business fees, etc.
Tasks
1. Prepare and print a one-page cost model for the project, similar to the model provided in Figure 7-2. Use the following WBS or the WBS you developed in Chapter 5, and be sure to document your assumptions in preparing the cost model. Assume a labor rate or $20/hour for yourself (the project manager) and team members (Kim, Ashok, and Alfreda). You will pay Bobby, your IT guy, $30/hour. The project will fund refreshments for the four shark tank like events and prizes for the winners, at a cost of $1,000 for each event.
1.1 Project management
1.2 Hardware (3 laptops and Internet access for Kim, Ashok, and Alfreda)
1.3 Software
1.3.1 Outsourced
1.3.1.1 Domain name and site hosting
1.3.1.2 Donation acceptance feature of website
1.3.1.3 Video creation for website
1.3.2 In-house Development
1.3.2.1 Guidelines and templates for events
1.3.2.2 Acceptance of ideas for needed new products or services
1.3.2.3 Custom site for 20 events
1.3.3 Testing
1.4 Business Plan
1.4.1 Internal labor
1.4.2 Legal information/assistance
1.5 Travel
1.6 Events
1.6.1 Internal labor
1.6.2 Consultant labor
1.6.3 Refreshments
1.6.4 Prizes
2. Using the cost model you created in Task 1, prepare a cost baseline by allocating the costs by WBS for each month of the project.
3. Assume that you have completed three months of the project. The BAC was $120,000 for this six-month project. You can also make the following assumptions:
PV = $60,000
EV = $55,000
AC = $50,000
a. What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?
b. How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget?
c. Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?
d. Use the SPI to estimate how long it will take to finish this project.
e. Sketch an earned value chart using the information from your answers to parts a through d. Use Figure 7-5 as a guide.
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