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Draw Gantt chart for the above-mentioned activities, also show percent complete, estimated cost, cost incurred values as per the progress report.

Category: Finance Paper Type: Online Exam | Quiz | Test Reference: APA Words: 1600


Task/activity

Task/activity name

Duration

Predecessor

A

Survey on the need

3

 

B

Survey for the keenness of football among girls

3

 

C

Meetings with the sponsors

30

 

D

Material selection

10

 

E

Architecture

20

 

F

Pre- construction

24 to 26 weeks

 

G

Construction process: site work

20

 

H

 plate high

30

 

I

 roof completion    

35

 

J

Lock-up

27

 

K

Fixtures and fittings

35

 

L

Ground fittings

20

 

M

Practical completion

10

 

N

Maintenance

On monthly basis

 

O

 

 

 

 

 

 

 

 

 

B)

 


The diagram is showing that the project work has been started from location a that is connected or the main base of the b, c, d and e. The network become more complex further form here because b, d and e are connected with more than one nodes. B has the connection with f and k, while d has the link with k and h. E has associated with j and i. K and j connect to m that is the junction of the three predecessors and reach at the objective.

 

F) find total float/ slack for each activity

 

The total float is identified in this section that is showing how long the activity in this can be delayed and has delayed without delaying the construction project. The formula of finding total float has been applied on the project activity. The total float of every path is given by calculating.

 

A->b->f->l->o = 51

A->c->g->k->m->o = 98

A->d->h->j->m->o = 80

A->e->i->j->m->o = 95

A->e->i->n-> o = 73

A->b->k->m->o = 51

A->d->k->m->o = 58

A->e->j->m->o = 60

 

Q2.  Fill the following table with first 8 tasks with predecessors and estimated cost of your project to answer the question given below the table:

 

Task /activity

Task/activity name

Duration

Predecessor

Estimated cost

 

A

Survey on the need

2

 

38400

 

B

Survey for the keenness of football among girls

1

 

35000

 

C

Meetings with the sponsors

2

 

36000

 

D

Material selection

2

 

 

 

E

Architecture

1

 

100000

 

F

Pre- construction

4

 

2000

 

G

Construction process: site work

2

 

320000

H

 plate high

2

 

2000

 

Note: do not change duration given in the table

 

a.      Fill the progress report                                                                                                         (1)       

The project started on april 26, 2020 and you received the following progress report at the end of april 29,2020:

 

·         Activity a is completed 100%, and the cost incurred is 10% more than the estimated cost.    

   activity a cost incurred= …………………..

                      

·         Activity b is completed 100%, and the cost incurred is 2 % less  than the estimated cost.

  activity b cost incurred= …………………..

 

·         Activity c is completed 25% and the cost incurred is 40% of the estimated cost

 activity c cost incurred= …………………..

Activity a will have the following cost:

 



b.      Calculate budget at completion (bac)          

 

Task /activity

Task/activity name

Percentage completion

Budget

A

Survey on the need

100 %

38400

10 %

42240

B

Survey for the keenness of football among girls

100 %

35000

2 %

34300

C

Meetings with the sponsors




100 %

41400

40 %

5400

Total cost

114,800

 

Resources

Availability

Rate

Total cost

Surveyors

30

80 per hour

2400

Sponsors

35

Architects

30

100,000

3000000

Construction workers

200

100 per hour

20000

Legal staff

20

100,000 per month

2000000

Engineers

20

200,000 per month

4000000

Maintenance workers

50

100 per day

5000

Total resource cost

9027400

 

c.       Calculate planned value (pv), earned value (ev) and actual cost (ac)  by considering the progress report.                                                                                                          

Planned value

Task /activity

Task/activity name

Percentage completion

Budget

Planned value

Earned value

Actual cost

A

Survey on the need

100%

38400

384

38400

35000

10%

42240

42.24

4224

B

Survey for the keenness of football among girls

100%

35000

3500

35000

36000

2%

34300

6.86

686

C

Meetings with the sponsors

100%

41400

414

41400

14400

40%

5400

21.6

2160

Total cost

196,740

4,369

121,870

85,400

 

d.      Calculate schedule variance (sv) and cost variance (cv) and discuss the results with regard to  tracking your finances as your project progresses:          

 

Task

Task/activity name

Percentage completion

Planned value

Earned value

Schedule variance

A

Survey on the need

100%

384

38400

38016

10%

42.24

4224

4181.76

B

Survey for the keenness of football among girls

100%

3500

35000

31500

2%

6.86

686

679.14

C

Meetings with the sponsors

100%

414

41400

40986

40%

21.6

2160

2138.4

Total cost

4,369

121,870

117,501

 

Cost variance

 

Task

Task/activity name

Percentage completion

Budget

Actual cost

Planned value

Earned value

Cost  variance

A

Survey on the need

100%

38400

35000

384

38400

3400

B

Survey for the keenness of football among girls

100%

35000

36000

3500

35000

-1000

C

Meetings with the sponsors

100%

41400

14400

414

41400

27000

Total cost

114,800

4,298

114,800

29,400

 

 

e.       Calculate the following indexes and discuss how they can help in monitoring performance:   

                                            i.            Schedule performance index (spi)

                                          ii.            Cost performance index cpi


 

Task

Task/activity name

Percentage completion

Budget

Actual cost

Planned value

Earned value

Schedule performance index (spi) 

Cost performance index (cpi)

A

Survey on the need

100%

38400

35000

384

38400

100

1.097143

B

Survey for the keenness of football among girls

100%

35000

36000

3500

35000

10

0.972222

C

Meetings with the sponsors

100%

41400

14400

414

41400

100

2.875

Total cost

114,800

4,298

114,800

210

5

 

f.        Calculate the estimated total cost at completion (eac) and discuss the result.

The estimated total cost at completion (eac) because equal to budget at cost of cost performance index cpi becomes equal to 1.


Task

Task/activity name

Percentage completion

Budget

Actual cost

Planned value

Earned value

Schedule performance index (spi) 

Eac

A

Survey on the need

100%

38400

35000

384

38400

100

35000

B

Survey for the keenness of football among girls

100%

35000

36000

3500

35000

10

36000

C

Meetings with the sponsors

100%

41400

14400

414

41400

100

14400

Total cost

114,800

4,298

114,800

210

85,400

 

g.      Draw cost/schedule graph showing pv, ev, ac, sv, cv, eac and bac based on the above-mentioned calculation

Task

Task/activity name

Pv

Ev

Actual cost

Sv

Cv

Eac

Bac

A

Survey on the need

384

38400

35000

38016

3400

35000

38400

B

Survey for the keenness of football among girls

3500

35000

36000

31500

-1000

36000

35000

C

Meetings with the sponsors

414

41400

14400

40986

27000

14400

41400

Total cost

4298

114,800

85,400

117,501

29,400

85,400

114,800

 



 

Q3.  Discuss, how would you manage quality in your project.

The quality in the project can be increased by considering different factors. The plan for quality will be based on the number of days to complete and start the project.  There are two major key performance indicators (KPIS) that can be applied to improve the quality. The quality chart will be focused to improve the function. The service quality management can be improved by clearing KPIS and evaluating the consistent standards. The assessment of task A, B, and C suggest that improved consideration is required for the budget at cost. The actual cost is higher for the budget at cost for different task from task A to task C. The quality of management can be improved by considering the number of resources as the number of resources are listed below,

 

Activity

Resources

Surveys

20

Sponsoring

20

Architecture

20

Construction

150

Legal work

15

Engineering

10

Maintenance Work

50

 

 

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