Simulated Project Performance Data Analysis Assignment

Simulated Project Performance Data Analysis Assignment

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Simulated Project Performance Data Analysis Assignment

  Simulated Project Performance Data Analysis

 

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 Simulated Project Performance Data Analysis

The earned value of the project is an estimated cost corresponding to the completed work. In this case, it involves analysing the work progress and finding the products of the percentage work completed and the actual cost needed to complete the project. The analysis helps in determining whether the project progress is satisfactory.

The project was divided into various major phases including the project planning, project execution, project controlling, and project closing, The baseline duration for the project planning was 5 days and the actual time taken was 5 days; therefore, the earned value for the phase = 5/5*100% = 100% of the projected cost ($2,000).

The project execution was estimated to take about 79 days as indicated in the baseline duration. The actual time taken to execute the project was 79 days and this means that the execution was achieved 100% thus the earned value was 100% of the projected cost, $87,730.

The third phase is project controlling and this involved a series of activities including the prototype testing. The phase was projected to run for 7 days as indicated in the baseline data. The actual time taken to complete the project was 7 and this means that there was 0% variance. Therefore, the earned value was 100% of the estimated project cost, $7,480.

The fourth phase was project closing which was scheduled to run for 14 days and the actual time taken was 14 days with a 0% variance. The earned value for the phase was thus, 100% of the actual projected cost, $12,340. The overall earned value for the Bristol Garment Steamer project was $109,550 and this shows that the contractor was able to meet the actual deadline as scheduled in the project plan.

 

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