[Recommended] Determine Cost Performance Index
- Create a team agreement that outlines the team operating rules for the construction project you are managing.
- What is the impact on a project schedule when you level your resources? Why is resource leveling necessary and what is the impact on your resources when you do not level? Review the Agile manifesto and describe how Agile views resource leveling?
Describe the purpose of a status report to the project sponsor? What key information do you feel is important for the status report to include and why? What is the optimum reporting cadence and why? What factors do Project Managers need to think about when creating a status report template? Do you feel that status reports are only needed when managing waterfall projects, and why? How can project status be shared in an Agile or Hybrid project?
Part 3: You are a project manager for a construction project budgeted at $750,000. As of today, the project should be 45% completed but after reviewing the status of the scheduled tasks involved in the project it is evident that only 25% of the work has been completed. The team has spent $200,000 thus far. Answer the two questions below: 1. Describe the formula for each equation and provide the answer
- Determine Earned Value (EV)
- Determine Planned Value (PV)
- Determine Cost Performance Index (CPI)
- Determine Schedule Performance Index (SPI)
- Cost Variance (CV)
- Schedule Variance (SV)
2. What does this data tell you?
Title: Effective Project Management ISBN: 9781119562801 Authors: Robert K. Wysocki Publisher: Wiley Publication Date: 2019-05-07 Edition: 8th Edition