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Project Management - Essay Example

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Project Management Name: Tutor: Course: Date: Section 2: Baselining Cost Variance for Kindergarten Planning Project The required tasks to complete the deliverable for the work package, kindergarten planning, are being planned and expected to be completed by April 27 July 2014 and use 584days of work…
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Download file to see previous pages ys 26 days 542 days 114 days 68% User requirements 214 days 120 days -6 days 114 days 0 days 100% Staff recruitment 48 days 40 days 8 days 48 days 0 days 100% Decoration 194 days 170 days 24 days 180 days 14 days 85% Staff training 60 days 60 days 0 days 0 days 60 days 0% Raising funds 40 days 40 days 0 days 0 days 40 days 0% Table 3: Schedule Variance for Kindergarten Planning Task Name Start Finish Late Start Late Finish Slack (Free) Slack (Total) Kindergarten planning 3/12 5/3 3/12 5/21 11.83 days 11.83 days User requirements 3/12 3/23 3/12 3/23 0 days 0 days Staff recruitment 3/26 3/30 3/26 3/30 0 days 0 days Location 4/2 4/11 4/2 4/27 0 days 11.83 days Decoration 4/11 5/1 4/27 5/17 0 days 11.83 days Raising funds 5/1 5/3 5/17 5/21 11.83 days 11.83 days The bottom bar of the tracking Gantt chart depicts the planned schedule for the tasks. The top bar indicates the actual performance and the percent complete for the tasks. Figure 1: Gantt chart tracking of Kindergarten Planning Section 3: PERT/CPM Analysis of kindergarten planning project In PERT/CPM analysis, three estimates are used namely; optimistic time denoted by (o), most likely time denoted by (m), pessimistic time denoted by (p). It provides a basis for establishing project variance and mean for each activity in the kindergarten planning. The activity is given by mean (Mean) = (o + 4m + p)/6; while its variance is; activity (Variance) = ((p - o)/6)2. The value obtained is the z-value which establishes the duration of the project in percentages. Table 3: Activity Variances and Mean Times ID Activity Optimistic time (days) Most likely (days) Pessimistic (days) A User requirements 18 21 23 B Staff recruitment 32 36 41 C Raising funds 47 51 55 D Decoration 47 55 57 E Staff training 8 10 14 Expected completion time Activity Expected completion time(days) Variance (days) User requirements 20.8 -0.2 Staff recruitment 36.2 0.2 Raising funds 51 0 Decoration 54 -1 Staff training 10.3 0.3 Variance is -0.7 days Activity ES LS EF LF Slack Critical path 1 User requirements 0 0 18 21 0 Yes 2 Staff recruitment 21 21 57 57 0 Yes 3 Raising funds 57 62 104 108 5 4 Decoration 108 108 163 163 0 Yes 5 Staff training 159 163 173 173 0 Yes Critical path is 1-2-4-5; the expected kindergarten completion time is 173 days. The kindergarten completion time is 173 days with a variance of -0.7. This considers p ...Download file to see next pagesRead More
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