Question

pls help me answer this ques as soon as possible

a) Figure 1-4 show the EV (Earned Value Cost), AC (Actual Cost) and PV (Planned Value Cost) for project A, B, C and D at the end of the sixth week. PV PV EV AC AC 6 Week 6 Week Figure 1 Project A Figure 2 Project B PV AC EV PV EV Week 6 Week Figure 3 Projed C Figure 4 Project D Analyze the performance for each project. From your analysis, point out the project(s) that have problem and suggest one (1) solution to the problem. (7 marks)

Answer 1

Project D has major problem as the Earned Value is less than the Planned Value but the Actual Cost is much higher.

Actual cost is the cost of the work completed till date.

Earned value is the value of the work completed.

Planned value is the value of the work estimated to be completed.

Project A is ahead of schedule and under budget. No problem

Project B is behind schedule but under budget. Solution could be to increase expense to fasten the project.

Project C is ahead of schedule but over budget. Reduce expense to get the project aligned with planning.

Project D is both behind schedule and over budget. Better monitoring, extension of deadline or change of scope will be required.