Bus 472 Unit 5 Assignment Template Instructions Fill 372532

Sheet1bus472 Unit 5 Assignment Templateinstructions Fill In The Only

Fill in the only the yellow fields: 1. S-Curve Develop a simple S-curve for the expected cumulative budget expenditures for this project: Duration (in days) Activities Cumulative Hint: Highlight the table above and insert a line chart within the yellow space below, ensure to only show cumulative data 2. Earned Value Management A. Using the plan data in the table below, complete the table by calculating the cumulative planned and cumulative actual monthly budgets through the end of June. Complete the earned value column on the right. Assume the project is planned for a 12-month duration and $250,000 budget. Activity Jan Feb Mar Apr May Jun Plan % Complete Earned Value Staffing % Blueprinting % Prototype % 7

Interpreting Project Performance A. You have collected the following data based on three months of your project’s performance. Complete the table. EV Cumul. EV AC Cumul.

AC CPI Cumul. CPI January 30,,000 February 95,,000 March 125,,000 B. How is the project performing after these three months? C. Is the trend positive or negative?

Paper For Above instruction

The management and successful execution of a project hinge fundamentally on effective monitoring and evaluation techniques. Among these, the use of S-curves and earned value management are pivotal tools that provide visual and quantitative insights into project progress, budget adherence, and schedule performance. This paper explores the process of developing an S-curve, calculating key earned value metrics, interpreting project performance data, and critiquing project closeout documentation, thereby providing a comprehensive overview of essential project control strategies.

Developing an S-Curve for Project Expenditures

An S-curve is a graphical representation depicting cumulative project costs or resources over time, illustrating the planned progression against actual performance. To create a simple S-curve, one begins with estimating the project's planned cumulative expenditures across its duration. For the given scenario, a 12-month project with a budget of $250,000 is considered. The expected expenditures increase over time as activities such as staffing, blueprinting, prototyping, design, construction, and transfer are completed sequentially or in overlapping phases.

In this context, the yellow fields of the Excel template serve as the input area for plotting the S-curve. By highlighting the data table and inserting a line chart that emphasizes the cumulative values, project managers can visualize whether the project is progressing as planned. An ideal S-curve would start with slow initial spending, accelerate during the core execution phases, and taper off as the project nears completion, forming an S-shape. Deviations from this pattern alert managers to potential delays or cost overruns, allowing for proactive corrective measures.

Earned Value Management: Calculations and Interpretations

Earned Value Management (EVM) is a methodology that integrates scope, schedule, and costs to evaluate project performance quantitatively. Using plan data, the first step involves computing the cumulative planned value (PV) and actual cost (AC) for each month leading up to June. The planned value reflects the budgeted expenditure for the work scheduled, while actual costs capture real expenses incurred.

Next, the earned value (EV) is calculated by multiplying the percent complete of each activity by its total planned budget. For instance, if staffing is 70% complete with a plan budget of $50,000, the earned value would be $35,000. Summing these across activities yields cumulative EV, PV, and AC values, providing a basis for assessing schedule and cost variances.

Key metrics derived include Schedule Variance (SV = EV - PV), which indicates whether the project is ahead or behind schedule; and Cost Variance (CV = EV - AC), reflecting budget performance. The Schedule Performance Index (SPI = EV / PV) and Cost Performance Index (CPI = EV / AC) offer normalized measures of efficiency, guiding forecasts for project completion.

Interpreting Project Performance

After evaluating data from the first three months, the project's status can be assessed through metrics such as cumulative EV, AC, and CPI. For example, a CPI close to 1 signifies that spending is on par with earned value, indicating efficient cost management; a CPI below 1 suggests overruns, while above 1 indicates cost savings. Similarly, the SPI reflects schedule adherence.

In the given scenario, the cumulative EV and AC figures reveal whether the project is progressing as planned. If the EV is significantly less than the planned value for this period, it indicates slippage or delays. Conversely, if EV exceeds or closely matches planned milestones, the project is on track or ahead. The trend over these three months will inform managerial decisions—whether to accelerate activities or implement corrective actions.

A negative trend, characterized by declining efficiency or escalating costs, warrants immediate attention to mitigate downstream impacts. A positive trend, showing consistent or improving performance, suggests successful management and control strategies.

Project Closeout Critique and Suggestions for Improvement

Effective project closeout documentation should comprehensively capture lessons learned, final costs, schedule adherence, quality assessments, stakeholder feedback, and contractual closeouts. Critiquing the provided closeout form reveals potential gaps, particularly the lack of detailed financial summaries, risk assessments, post-project benefits analysis, and documentation of key issues encountered during execution.

To enhance the closeout report's usefulness, additional sections could include: a detailed financial reconciliation, a schedule variance analysis, an evaluation of team performance, client satisfaction metrics, and recommendations for future projects. Incorporating these elements would provide a more holistic view of project outcomes and facilitate continuous improvement in project management practices.

In conclusion, mastering the use of S-curves, earned value metrics, and critique of project closeout documentation form critical components of a project manager's toolkit. These tools enable proactive decision-making, ensure project objectives are met efficiently, and contribute to organizational learning for future initiatives.

References

• Fleming, Q. W., & Koppelman, J. M. (2016). Earned Value Project Management (4th ed.). Project Management Institute.
• Meredith, J. R., & Mantel, S. J. (2017). Project Management: A Managerial Approach (9th ed.). Wiley.
• PMI. (2021). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (7th ed.). Project Management Institute.
• Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. Wiley.
• Leach, L. P. (2005). Critical Chain Project Management. Artech House.
• Hilson, D. (2019). Advanced Project Management: A Structured Approach. Routledge.
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