Lab Equipment Installations Project Management Complete Both Parts for Project Management See both Part I and Part II
Your project’s objective is to install new lab equipment in 200 research facilities located in Washington State. You install 5 devices in each lab. The approved budget is $500,000 and the approved schedule is 14 weeks.
After 8 weeks, you have installed the equipment in 110 of the labs and you have spent $250,000.
The company responsible for the lab equipment installations is interested in knowing more than the usual budget versus costs incurred model for managing their projects. For this project, they would rather have you quantify the cost of work currently in progress. The executives understand that Earned Value is one of the most accurate techniques for measuring and controlling a project’s schedule and budget. They want you, the project manager to compare how much work has been completed against how much can be expected to be completed at a given point.
Your supervisor has given you several resources to aid in the completion of the following table. The books can be found
online through WSU Online Libraries.
Managing projects as investments: earned value to business value, Stephen A. Devaux
Using Earned Value: A project manager’s guide, Alan Webb, 2003
Determine the values in the table below:
Term Value Budget At Completion
Cost Performance Index
Schedule Performance Index
Estimate At Completion
Estimate to Complete
Variance At Completion