Part 11: Elements Of A WBS For A Project To Build

Part 11 Following Are Elements Of A Wbs For A Project To Build A B

Following are elements of a WBS for a project to build a bunk bed. Using the information supplied here, create a WBS and carry out a bottom-up cost estimate. Cost($)Rate ($/hr)Time (hrs)Research: Jimmy' time12 Dad's time252 Materials: Lumber200 Hardware45 Power equipment rental65 Jimmy's time to acquire materials13 Dad's Time to acquire materials153 Construction:Jimmy's time18 Dad's time208 Inspection:Mom's time100.

Following is a listing of items to be considered in costing a PC game development project. Use this data to develop a parametric estimate of the cost of the project. Cost ($)Rates($/hr)Time (hr) Resources: Designers 30100 Artists 25200 Programmers 251000 Work Station 3000 Contracted Testing Group 50100 Marketing Materials 1500 Fringe benefits: 30% of Direct Wages Overhead: 70% of (Direct Wages + fringes)

For the table below: Task Predecessor Duration (in days) Latest start Earliest start Float (slack) A Start 5 B, A 8 C B 9 D Start 6 E D 12 F Start 12 G F 7

a) Create a PERT/CPM chart.

b) Identify the critical path and compute project duration.

c) Compute Latest Start, Earliest Start, and Float (Slack).

The following table shows the allocation of work assignments and resources needed for an investment firm to make a decision on investing in company XYZ. Task A Task B Task C Portfolio Managers Week 1 (S)-Week 3 (P) Associates-Week 1 (P)-Week 2 (S) Analysts-Week 1 (P)-Week 2 (P)-Week 2 (S) (P)=Primary (S)=Secondary Resource Spreadsheet Resource Week 1 Week 2 Week 3 Portfolio Manager 1 1 Associate 1 2 Analyst 2 5 Note: figures in spreadsheet are person-weeks of effort.

a) Create Responsibility Matrix.

b) Create Resource Gantt Chart.

c) Create Resources Loading Chart.

Building a swimming pool Task Worker Category Person Days # of Workers Elapsed Time (days) Materials ($) Excavate Machine Operator 1 1 5,000 Frame the walls Masons 20 4 2,000 Install Internal Plumbing Plumber 12 3 3,000 Install Electricity Electrician 10 2 2,000 Pour concrete Masons 15 3 3,000 Install pump and filter Plumber 8 2 2,000 Total 8,500.

Category Wage Rate $/Day Electrician 200 Mason 160 Machine Operator 120 Plumber 200

a) Create a Gantt chart from the work breakdown structure.

b) Create a PERT/CPM network showing the interdependencies of the different activities. How long will the project take? (Note: don’t forget to take “elapsed time” into account.)

c) Using the information in your Gantt chart, as well as the information on wage rates and cost of materials, put together a budget showing planned total expenditures for the project.

Following are cost and schedule data for a project that is underway. Project Cost Data Month Planned Actual Project Schedule Data Task Planned Starting Month Planned Duration (months) Actual starting month A 1 2 2 3 B 2 3 3 5 C 4 3 6 3 6 3 So far D 6 5 7 2 So far E 8 4 8 Not yet begun F 10 3 Not yet begun Actual Duration (months).

a) Using the cost data in the cost table above, create a cumulative cost curve comparing actual versus planned costs.

b) Using the schedule data in the schedule table above, create a Gantt chart comparing actual versus planned schedule performance.

c) Summarize in words what you see the project status to be at this time. What do you predict regarding the final cost and final schedule for the project?

Part 3: Progress Reporting Data

Following are data reporting progress on a project. Work on all tasks contained in the table is scheduled to be complete as of the day of the report.

| Task | Budget | Begun? | Complete? | Actual Cost | Earned Value |

|-------|--------|---------|------------|--------------|--------------|

| A | 3,100 | Yes | Yes | 3,100 | 3,100 |

| B | 4,000 | Yes | Yes | 4,500 | 4,500 |

| C | 2,500 | Yes | Yes | 2,250 | 2,250 |

| D | 4,000 | Yes | No | 3,500 | N/A |

| E | 3,500 | Yes | Yes | 4,000 | 4,000 |

| F | 2,500 | No | No | N/A | N/A |

a) Using the 50-50 Rule, what is earned value for this project?

b) Using the 0-100 Rule, what is earned value for this project?

c) Note the discrepancy of earned value figures when using the 50-50 Rule and 0-100 Rule. Why is there a discrepancy? Which Rule should we use? Explain your rationale.

d) Using the 50-50 Rule earned value computation, what is the schedule variance for the project as reported?

e) What is the schedule performance index (SPI)?

f) Using the 50-50 Rule earned value computation, what is the cost variance for the project as reported?

g) What is the cost performance index (CPI)?

h) If the total budget for this project is 50,000, use CPI to compute estimate at completion (EAC).

i) Using the earned value information from the above table, provide a brief project status report and future projections.

Paper For Above instruction

The series of project management exercises presented encompass critical aspects of project planning, scheduling, cost estimation, resource allocation, and performance measurement. These scenarios provide a comprehensive understanding of how to construct Work Breakdown Structures (WBS), develop schedules using PERT/CPM techniques, estimate project costs through bottom-up and parametric methods, and analyze project progress using earned value management (EVM). This discussion synthesizes these various tools and methodologies, illustrating their application through detailed examples and explanations.

Constructing a Work Breakdown Structure and Cost Estimation

The initial scenario involves creating a WBS for building a bunk bed, requiring the identification of major tasks such as research, materials procurement, construction, and inspection. Each element demands specific resource allocations, time estimates, and costs. For example, research involves Jimmy's and Dad's time, while materials include lumber and hardware costs. The bottom-up approach estimates the total cost by summing individual task costs derived from hours worked multiplied by respective rates, plus material expenses. This process reveals the project's comprehensive resource requirements and financial outlay, essential for accurate budgeting.

Secondly, the cross-application of parametric estimating for a PC game development project involves analyzing cost components—designers, artists, programmers, hardware, and testing—multiplied by their respective hourly rates and effort estimates. Incorporating overheads and fringe benefits, the total project cost can be calculated with high precision. Such parametric modeling supports rapid and scalable cost forecasting, particularly effective in projects with well-defined parameters.

Developing Project Schedules Using PERT/CPM

The second task emphasizes scheduling through PERT/CPM techniques. Using predecessor relationships and activity durations, a network diagram is constructed to identify the critical path—the sequence of activities dictating the minimum project duration. Calculations of earliest and latest start and finish times reveal float or slack, indicating flexibility in scheduling non-critical tasks. Identifying the critical path enables project managers to focus on tasks that directly influence project completion date, fostering better resource allocation and timeline management.

Applying these calculations to the given task data yields a project duration estimate, revealing crucial insights about potential delays or accelerations. Visualizing activities in Gantt charts further facilitates communication among stakeholders by illustrating task timelines and dependencies clearly.

Resource Allocation and Budget Planning

The third scenario involves resource management for constructing a swimming pool, requiring categorizing labor efforts and costs, then developing a Gantt chart to visualize activity scheduling. Using this chart and wage rates, an overall project budget is assembled. This quantitative approach ensures proper resource distribution, cost control, and planning for contingencies. The CPM network diagram supports evaluating task dependencies, optimizing sequencing, and minimizing elapsed or total project duration.

By integrating resource costs with activity durations, project managers can create a comprehensive budget, identify potential cost overruns, and implement corrective actions proactively. These techniques highlight the importance of estimating both time and financial commitments accurately for project success.

Monitoring Project Progress and Variance Analysis

The latter examples focus on tracking ongoing project performance through scheduled and actual costs, as well as task durations. Constructing cumulative cost curves and Gantt charts allows comparison of planned versus actual progress, thereby detecting deviations early. Calculating Schedule Variance (SV), Schedule Performance Index (SPI), Cost Variance (CV), and Cost Performance Index (CPI) provides quantitative measures of project health.

Applying these metrics to current project data helps forecast the likely final cost and schedule, facilitating informed decision-making. For example, a CPI below 1 indicates cost overruns, while an SPI below 1 suggests schedule delays, guiding management to enact corrective measures.

Earned Value Management and Performance Measurement

The final phase demonstrates the utility of EV analysis—calculating earned value based on work completed and budgeted costs. The 50-50 and 0-100 rules offer different approaches for estimating earned value when some tasks are partially completed. The discrepancies between these calculations lie in their assumptions: 50-50 treats incomplete tasks as half complete, while 0-100 considers them either complete or not, depending on progress.

Choosing the appropriate rule depends on project context. Generally, the 50-50 rule provides a more moderate estimate, useful when partial completion is common, whereas the 0-100 rule offers a conservative or optimistic perspective aligned with reporting standards and management preferences.

Analyzing variances using these EV calculations informs project control strategies, including schedule adjustments and resource reallocation, to meet project goals effectively. Accurate EV analysis supports transparent communication with stakeholders about project status and future outlook.

Conclusion

Overall, the exercises illustrate that successful project management hinges on meticulous planning, scheduling, cost estimation, and progress monitoring. Employing WBS, PERT/CPM, resource allocation tools, and Earned Value Management creates a robust framework for tracking project performance, identifying risks, and enabling proactive responses. Integration of these methodologies enhances decision-making, optimizes resource utilization, and increases the likelihood of delivering projects within scope, time, and budget constraints.

References

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