Topic: Resource Allocation And Risk Management
Part 1
Review the “Project Execution” section of Chapter 3 in the textbook. Follow the steps provided to guide your baseline process and the subsequent status of you plan.
Questions:
What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?
Is the project ahead of schedule or behind schedule? Is the project under budget or over budget?
Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?
Use the SPI to estimate how long it will take to finish this project.
Part 3
Create a management report to discuss where the project stands in terms of the triple constraint: meeting scope, time, and cost goals at a specific point in time. Use the revised information from the Microsoft Project earned value dashboards and reports to communicate the project status to project stakeholders. Be sure the comments address each of the questions below and provide any additional information required in the template.
Are there issues that need to be escalated?
Is it acceptable to do nothing and simply proceed?
Should the project be terminated?
Based on your evaluation of the threats to the project, how should you proceed?
