Project approximations
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A 12 month project is estimated to spend one million dollars over the life
of the project. At Month 3, the following numbers have been recorded:
Month PV EV AC
1 $10K $1K $5K
2 $25K $3K $15K
3 $75K $6K $40K
1. When will it finish? Crude approximation. Show all calculations.
2. What will it cost? Show all calculations.
3. What would you do as the PHB (Pointy-Haired Boss or just Boss)? State all reasons here.
PLEASE SHOW ALL STEPS AND CALCULATIONS. THANKS.
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Solution Summary
The expert examines project approximation for the Pointy-Haired Boss or just Boss.
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See the attached file.
A 12 month project is estimated to spend one million dollars over the life
of the project. At Month 3, the following numbers have been recorded:
Month PV EV AC
1 10K 1K 5K
2 25K 3K 15K
3 75K 6K 40K
1. When will it finish? Crude approximation. Show all calculations.
Planned Value tells us the estimated value of the work planned to be done thus far. We simply take the percentage of the budget that should have been spent at this point of time. To derive earned value, we multiply the total budget figure by the percentage of all tasks completed. In this case we see that the percentage of tasks completed is:
6,000/1,000,000 =.6%
We can determine how far behind the project ...
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