HWZ-L.pef Adube R File Ecit Windw Help Fill & Sign Comment Problem 3. Yon are th

Question

HWZ-L.pef Adube R File Ecit Windw Help Fill & Sign Comment Problem 3. Yon are the project manager of a small project that consists of seven tasks. After carefil and extensive planning, you agreed on a proposed project schednle that is indicaled by the Gachart below Today critcal tast Schednled noncritical taski Planned but not u sed Used hut not planned Time As indicared in their original project plan, yon had estimared the following durations and (lolal) direct costs for each task: Planned Value $2,000 $2,800 $1.150 S975 $1.350 1.050 S270 Duration (wks) Task G+ This morning (begiming of weck 6), you reccived a progress report; as indicated in the

Explanation / Answer

3a. the cost variance is the difference between actual cost and expected or budget cost. in the given example, the cost for completion of activities of A &B are same, i.e. $2000 for A and $2800 for B. so there is no variance for these actities, but activity D is budgeted cost of $975, but the work was completed by 55% and the cost occurred is $330 only.

here the proportionate cost will be = (975/100)P55%= $536.25

but the actual cost is= $330

here the positive or favorable cost variance is there, = 536.25-330= $236.25 is favorable cost variance

3b. by considering the project information, i can say that approximately 50% of the project is completed. and remaining work also be completed in the given period, with in the budgeted cost only. if any abnormal issues happen, then only the project take much time, and unfavorable cost. otherwise it goes smooth and completes in the given duraion only.

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