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APA
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Management
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English (U.S.)
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Topic:

Project Planning: Schedule and Cost Variances and Performance Index

Essay Instructions:

Complete exercise 2 in chapter 13 of the textbook. Given the data provided, in an excel spreadsheet, PowerPoint, or other appropriate method of delivery, determine the following:
Schedule Variance (SV)
Cost Variance (CV)
Schedule Performance Index (SPI)
Cost Performance Index (CPI)
In 250-300 words, answer the questions provided with the exercise. Reflect on the assessment of this project assessment. Should the project continue to improve?
APA format is not required, but solid academic writing is expected.

Essay Sample Content Preview:
Project Planning
On day 51, a project has an earned value of $600, an actual cost of $650, and a planned cost of $560. Compute the SV, CV, and CPI for the project. What is your assessment of the project on day 51?
CV (Coefficient of Variation) = 600 – 650 = -50
SV (Stochastic Volatility) = 600 – 560 = 40
CPI (Consumer Price Index) = 600/650 = 0.92
The negative coefficient variation, -50, is an indication that the project has been over-budgeted. However, the stochastic volatility, 40, is positive, implying that the execution of the project is right on schedule. The consumer price index, 0.92, shows that the cost for the completion of the project is higher than the planned cost. Budgeting, cost of completion, and completing as scheduled are vital tenets for successfully implementing the project. The project must be correctly budgeted for by preventi...
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