Calculating Earned Value

Calculating Earned Value

Question 1. Explain briefly the Project Management concept of Earned Value.

Question 2.
Below, you can see the work and budget planned for a project that started six months ago.
Calculate the following elements using the Earned Value formulas.
In addition to the numeric answer provide a brief explanation for the concepts 5, 6, 7, 8,9,10,11,12

Month 1    Month 2    Month 3    Month 4    Month 5    Month 6    Month 7    Month 8    Month 9    Month 10    Total
Work planned    5%    5%    10%    10%    10%    15%    15%    15%    10%    5%    100%
Budget Planned     50,000      50,000      100,000      100,000      100,000      150,000      150,000      150,000      100,000      50,000      1,000,000

Six months after inception you have achieved 40% of the project $700,000

1    AC
2    BAC
3    PV
4    EV
5    CV
6    SV
7    CPI
8    SPI
9    EAC
10    ETC
11    TCPI based on BAC
12    TCPI based on EAC

Question 3.
What can you do to incorporate your findings to a change management system ?

Question 4
What is the importance of the

9.

Anderson, David R., Dennis J. Sweeney and Thomas A. Williams. 2014. Statistics for Business and Economics 12th edition, revised. South-Western, Cengage Learning

Project description
This is the book name: Anderson, David R., Dennis J. Sweeney and Thomas A. Williams. 2014. Statistics for
Business and Economics 12th edition, revised. South-Western, Cengage Learning

Economic and Business Statistics 2

4
The first thing you have to do is chose a topic
, collect your data, and either form hypotheses to
test and/or estimate relationships.
I
t
is highly recommended that you consult with me.
There are a couple of restrictions you have to follow:
1.
You are not allowed to use any of the data sets that come with the textbook.
Too many
other instructors have used these data sets for me to know whether such a project is your own
work.
2.
Generally, university regulations do not allow you to conduct your own
surveys without
ethics approval. Unfortunately, getting this before the end of the course will likely not be
possible so you should rule out this option.
3.
Do not try to recycle projects that have been submitted previously to other instructors.
When I pre
viously taught this course I caught two students doing this who I reported to the
university
’s
Academic Honesty Committee. Both students were found guilty. It is really not
worth the risk.
After you pick a topic, to do a good job, y
ou may have to read a
head in the
textbook. In real life,
doing empirical projects typically requires learning additional techniques to address a particular
problem. In this case, I will be
satisfied if you simply use the techniques we study in this course
(although you are
also free to draw on what you learnt in BUEC2320). I will be impressed if you
go beyond the techniques we studied in this course but I definitely will not expect you to. If you
do go beyond them, make sure you explain what you are doing clearly with refe
rences.
You
r
report/paper will have to be properly written.

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