General Instructions: For this case study, please create a report in a Microsoft Word file (*.doc or *.docx) or a Rich Text Format file (*.rtf). For this case study, the case report should consist of...

2
Introduction:
In this assignment we have a research and development project. A project must be defined as per the Project Management Institute consists of five phases namely: Initiation, Planning, Execution, Performance and Closing. Project planning is an important phase whereby the objectives of the project are translated into project deliverables. The latter can be further broken down into activities which will be quantified and logically scheduled. A programme of works is a useful output from the project planning phase for the execution phase.
The aim of this assignment is to develop and produce a programme of works or project plan and budget for a selected project. The relevant objectives of this assignment are as follows:
(a)    Identify a project related to the group’s professional affiliation as in resources.
(b)    Provide a project description with milestone and deliverables.
(c)    Develop an execution of the project plan and budget.
(d)    Developing a work breakdown structure and assigning resources to the tasks consistent with the scope of works.
(e)    Producing a programme of works for the project plan and budget.
As part of this assignment, a Programme of works needs to be developed for a particular project, which has attached separately the detailed project planning and schedule.
Table 1: Milestones
    Sl.
    Deliverable Milestone
    Duration
    1
    A
     42 days
    2
    B
    28 days
    3
    C
    70 days
     4
    D
    35 days
     5
    E
    84 days
     6
    F
    28 days
    7
    G
    49 days
    8
    H
    63 days
    9
    I
    14 days
    10
    J
    84 days
We know that our case study’s given data is in week manner, for detailed program of work it converted into days.
Activities for the purpose of planning are of the types as shown in
Table 2: Dependency relationships
    Dependency
    Description
    Finish to start (FS)
    Previous activity must be completed before activity starts
    Start to Start (SS)
    The activity starts at the same time as the previous activity
Presentation of facts:
1.How does the project progress compare to the project plan? Choose one metric used in Earned Value Analysis and explain.
Ans.
Project progress: It is a project report which reflects the data of how much progress
Earned value analysis quantify the performance of the selected project. It generally, complies the project progress cost and the project planed cost to find out if the project is on track or not. Earned value over time is the project’s earned value considering the status date. If actual cost (ACWP) is higher than earned value (BCWPO) then the project is marked as an over budget. If planned value (BCWS) is higher than earned value, then the project is behind the estimated schedule.
In other hands the variance over time is the cost and schedule variances for the project based on status date. If cost variance is negative then, the project is over budget. If the schedule variance is positive then the project is behind schedule.
2.What do we expect project cost to be now?
Ans. First, estimate what is time need to consider for the said project especially for each activity. The details refer table 1. Then cost is added in terms of the budgeted or estimated cost. Once all the cost data and the duration data loaded then final total is estimated. Basic methodology for this process are:
1. Define project teams and their skills.
2. Identify and assign their role and responsibilities.
3. Evaluate the project’s scope.
4. Define the project estimation methods.
5. Define the referred data, which was considered for the project’s estimation. It could be historical data or any previous project data.
6. Define the project deliverables and milestones to evaluate the project cost estimation procedure.
7. Create a detailed gantt chart for the detailed work.
3.What are the cost and schedule performance indices? What can you infer from these indices?
Ans.
Cost and schedule performance indices for the project based on status date or the selected date when the analysis has been done. Analysis of the results are the greater the performance index, the more on schedule and cost saving the project.
4.What is the estimate to complete the project?
Ans. It is known as the current estimation/ expectation of total cost at the end of the project. Estimated cost for this project is $S31,350.
5.What is the future of this project? Compute TCPI.
Ans. To complete performance index or TCPI.
TCPI = (BAC -EV) /(BAC-AC).(BAC-EV)
BAC – EV = It is the value of rest work, needed to complete.
BAC – AC = It is the rest amount of the estimated money.
Results analysis is, the minimum the primary CPI (Cost performance Index) the greater TCPI will be
estimated.
Calculation –
BAC – Budget at completion – $68,500
EV – Earned value – 43,500
AC – 31,350
TCPI = (68500-43500)/(68500-31350)
    = 0.672
6.Show a graph of planned value (“PV”), earned value (“EV”), and actual cost (“AC”).
Ans.
Analysis:
Project management tools – Case study has the defined activity which is considered here as a scenario 1 with 35% shorter. Refer annexure 1 for the scenario 1.In this project for the planning purpose 3-point estimation has been applied. Details of this estimations are:
1.    PERT – Programme / Project Evaluation Review Technique. Pert are planned by following procedure:
a.     Explanation of the certain activities and milestone – Activities and milestones are defined in the table -1. Activities are known as the task of the project and milestones are the event which define the start and end of one or more task.
b.    The right order or arrangement of the task – This step involved with
i. The order of that task has to in certain arrangement. Therefore, rest activities are also determined or arranged...