Pm 592 Quiz 2

Topics: Project management, Earned value management, Project manager Pages: 3 (831 words) Published: August 21, 2011
\1.
A-crash cost per day per activity is as follows
A= $25 B=$75 C=$150 D=$25

B. Activities B,D should be crashed to meet the deadline
C. The extra cost associated to crash the project is crash cost of B$75+crash cost of D$25=$100

2.
A. Some of the basic requirements for the project plan in order for EVM to be able to work are:

- A project plan that identifies work to be accomplished,
a value of planned work or Planned Value (PV) or Budgeted Cost of Work Scheduled (BCWS), and defined Earned Value (EV) or Budgeted Cost of Work Performed (BCWP). EVM implementations can include indicators and forecasts of cost performance (over budget or under budget) and schedule performance (behind schedule or ahead of schedule). However, the basic requirements of using EVM is that it has progress using PV and EV.

B. It is a process used to find variances in projects based on the comparison of worked performed and work planned. EVM is used on the cost and schedule control and can be very useful in project forecasting. Earned Value Management will let you know the actual state of the project by comparing your current project performance against your plan. Knowing the project's performance will let you take actions needed to ensure that the project is completed on time and within budget. Like any tool, in order for EVM to be successful, it very important that it is used correctly. 3.

A. The resource conflict that occurs is between activity C and D between days 5-9. Both of these tasks require 1 design engineer during overlapping time periods.

B. To resolve the conflict i would Early start activity D and late start activity C based on slack that way the design engineer could focus on each activity without splitting them. This will not effect the project duration because neither one of these tasks are on the critical path.So using slack we will make up for the two overlapping day by manipulating the slack of one day for each task.

5.
A. Resource allocation is...
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