Project Assessment.docx - Running head PROJECT ASSESSMENT Project Assessment Student Name Institution Affiliation 1 2 PROJECT ASSESSMENT Project

# Project Assessment.docx - Running head PROJECT ASSESSMENT...

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Running head: PROJECT ASSESSMENT 1 Project Assessment Student Name Institution Affiliation
2 PROJECT ASSESSMENT Project Assessment Calculations 1. Schedule Variance (SV) SV = Earned Value (EV) – Planned Value (PV) EV = \$600 PV = \$560 SV = 600 – 560 SV = \$40 2. Cost Variance (CV) Cost Variance (CV) = Earned Value (EV) – Actual Value (AV) EV = \$600 AC = \$650 CV = 600 – 650 CV = -\$50 3. Schedule Performance Index (SPI) SPI = EV/PV EV = \$600 PV = \$560 SPI = 600/560 SPI = 1.0714 4. Cost Performance Index (CPI) CPI = EV/AC AV = \$600 AC = 650
3 PROJECT ASSESSMENT CPI = 600/650 CPI = 0.9231 Project Assessment Reflection The project is ahead schedule since from the calculations, we found that the schedule variance i=of the project being positive. Considering that the earned value of this project is higher than the planned value, we can precisely say that the project is doing quite well. However, the project is operating at a budget that is higher than the initially planned budget. This is indicated by the negative Cost Variance. Additionally, the schedule performance index which is greater than one in this project

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Unformatted text preview: indicates that the project is ahead of the planned schedule. Generally, the schedule performance index is used in projects to evaluate whether the project is operating within the planned schedule hence giving a prediction of the project getting completed within the scheduled time. In this project, the schedule performance index precisely indicates that the project is ahead of planned schedule and hence it will be completed within planned schedule. The cost performance index is used in project to indicate how well the project is remaining, or operating within the budget. The cost performance index in this case is less than one which indicates that the project is earning less than the amount spent. 4 PROJECT ASSESSMENT Reference Czarnigowska, A., Jaskowski, P., &amp; Biruk, S. (2011). Project performance reporting and prediction: extensions of Earned value management. International journal of business and management studies , 3 (1), 11-20....
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