Project Cost and Schedule Control

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PROJ 592 Project Cost and Schedule Control – DeVry

Instructions: Please complete all 3 multi-part problems for this week’s assignment.

2-1 Basic Estimating Problem
Your company is installing a new piece of machining equipment and a robotic arm. Your manager asks for the project costs by cost category as well as the total amount. Given the following information, develop a base cost estimate by grouping costs by Equipment / Material (items 1 – 4), Installation / Labor (items 5 and 6), and Overhead (items 7-9).

  1. Two pieces of equipment costing $ 15,000 and $ 35,000
  2. Material required for electrical hook-up is 400 feet at $ 25 per foot
  3. Controls for each piece of equipment are estimated at $ 600 each
  4. Required start-up material is 3,700 pounds at $ 2.70 per pound
  5. Company labor for installation requires two maintenance specialists for two days at eight hours per day and $ 35 per hour
  6. Contract labor is estimated at a fixed price of $ 7,500
  7. Engineering is estimated to be 15% of (equipment / material) cost based on past experience
  8. Inspection is estimated to be 3% of (labor) cost based on past experience
  9. General and Administrative expenses are estimated to be 5% of the total of (equipment / material) and (labor) based on past experience.

Note: For this problem, only items 5 and 6 are considered “labor” for the purpose of calculating items 8 and 9.
2-2 Three-point Estimate Problem  
(a) A project requires the use of structural steel in several tasks over the 12 month period expected to complete the work. Based on recent experience the most likely price for the material is $0.30/lb. There are, however, price fluctuations over time based on suppliers used and structural steel availability. The most optimistic price estimate is $0.24/lb., and the most pessimistic estimate is $0.62/lb.
Use the three-point estimating process to determine the expected price of the material.
(b) In addition to price fluctuations, it is also uncertain how much of structural steel will be required for the project. Design uncertainties and waste at the project site will affect the amount of structural steel actually needed. The most likely amount required is 40 tons. However, as little as 37 tons and as much as 49 tons might be required.  One ton = 2000 lbs.
Use the three-point estimating process to determine to determine the expected amount of structural steel needed for the project?
 (c) Using the estimates from 1 & 2, what is the expected cost for structural steel over the life of the project?
 (d) Using the “Complex” three-point method, what is the expected cost for structural steel over the life of the project?

 

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Project Cost and Schedule Control

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PROJ 592 Project Cost and Schedule Control – DeVry

5-1 Earned Value Calculation 

You are 4 months into a 6 month project. The project is linear, which means that the progress and spending occurs at a constant rate. Our crack project team of highly skilled associates has worked diligently and put in extra hours to keep the project going.  Our accounting department has provided the following data at the end of month 4:
Actual cost to date = $88,800
Planned expenditures to date = $101,000
The CFO is excited and has sent you an email congratulating you for being 12.07% under budget. However, is it really time to hold a team celebration? That would be fun but your project manager mentality kicks in. Those numbers look good but how are we ‘really’ doing? To understand the true project performance, we need to apply earned value techniques. 
The missing piece we need is Earned Value (i.e. what we have actually accomplished so far). You meet with your team and find that only 6 of the 7 tasks scheduled to be complete by the end of month 4 have actually been completed. Task 7 isn’t even started! This information gives you the final data you need to apply ‘Earned Value’ and develop an objective analysis.
1.     What are the PV, EV, and AC for the project at the end of month 4?
2.     What are the SV, CV, SPI, and CPI for the project?
3.     Assess the project performance to date? Do you get to have the celebration?
5-2 Earned Value Calculation

Project Schedule and Budget Data Provided:……….

Status of the project at the end of day 6:……………….

Project Network Diagram…………………………………………

1. Calculate the schedule variance for each task and the total project.

2. Calculate the cost variance for each task and the total project.

3. What is your assessment of the project at this time?

 

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Appropriate Reactions

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Appropriate Reactions 
As a helping professional, you will face issues of divorce, child abuse, homosexuality, house husbands, spousal abuse, elder abuse, dependency, and so forth. In a 250-300 word post discuss how you would contain or express your perspective on these issues in a setting where you personally had strong reactions in the negative.  What is your identified role and how do you fulfill that while allowing clients/patients to have their own personal beliefs? Respond to at least two of your classmates.   

 

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NASW Code of Ethics

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NASW Code of Ethics 
After reading the NASW Code of Ethics, discuss one of the six major principals emphasizing its meaning, significance and implications for practice.  What struggles might you see in the practice of this principle? Respond to at least two of your classmates. 

 

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Values

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Values
The authors of the course textbook state that “the single most important factors in working with ethnic diversity… (Is) values.”  In a 250-300 word post, discuss the role values play in working with ethnic diversity and how can the Family Systems frame assist in overcoming misperceptions? Respond to at least two of your classmates’ posting. 

 

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Roles

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Roles
In 250-300 words, describe a group situation, natural or formed, that you have witnessed a variety of roles. What was the interaction you witnessed? How was the helping professional of benefit or a distraction to the group process? In what settings do you see the use of a group beneficial to the helping process? Why? Support your response with an APA formatted citation from one scholarly reference. Respond to a minimum of two of your classmates.

 

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Stress Management

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Stress Management
Explore the following site (http;//isma.org.uk/) concerning Stress Management.  What avenues do you feel would be useful techniques for managing the stress that accompanies the Helping Profession?  How can the Helping Professional remain empathetic without becoming sympathetic? Respond to a minimum of two of your classmates.  

 

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Similarities and Differences between American and European Values

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Similarities and Differences between American and European Values

Different cultures have different values and reconciling these values is one of the most frustrating elements of foreign policy. Understanding and evaluating values is extremely important when it comes to influencing the conduct of a nation’s affairs. Even amongst cultures that share the majority of their values, such as the United States and the countries of Western Europe, there may be differences of opinion regarding the relative importance of particular values. In November, 2011, the Pew Research Center conducted a poll based on American and Western European values. After reading American Exceptionalism Subsides: The American-Western European Values Gap (http://www.pewglobal.org/2011/11/17/the-american-western-european-values-gap/), appraise the values of Europe and the U.S. when it comes to the following components:

a. the utilization of military

b. whether they should be engaged with and provide assistance to other countries or be isolated from other countries

c. their beliefs about being a superior culture

d. political beliefs, individualism, or the role of the state

e. the role of religion

f. beliefs about homosexuality

The paper must be three pages in length and formatted according to APA style. You must use at least five scholarly resources (at least two of which can be found in the Ashford Online Library) other than the textbook to support your claims and subclaims. Cite your resources in text and on the reference page. For information regarding APA samples and tutorials, visit the Ashford Writing Center, within the Learning Resources tab on the left navigation toolbar, in your online course.

 

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Annotated Bibliography

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Annotated Bibliography

This week, you will produce an introductory paragraph with your thesis statement and an annotated bibliography for the Final Research Paper.

Thesis Statement: Generating a thesis statement is perhaps the most important part of the research paper process. It is essential for you to craft a strong, defendable thesis statement upon which you will base further research. Include your thesis statement within an introductory paragraph.

Annotated Bibliography: The purpose of the annotated bibliography is to assist you in developing research analysis skills including critical thinking, writing, and literature research skills. The annotated bibliography should include the following information for each source:

a. Name of the article, including the complete bibliographic citation, using APA format.

b. Summary/abstract of the article – annotation (sometimes it is helpful to ask yourself the following questions in synthesizing the information):

·         Who? (author)

·         What was done? (e.g., an experimental study investigating the interaction of short term memory and attention)

·         How? (was it done)

·         What were the findings? (identify the major ones)

·         Contributions? (new findings, applications, etc.)

Review the complete instructions for the Final Research Paper in Week Five of your online course or in the “Components of Course Evaluation” section of this guide. To conduct accurate research for the annotated bibliography, consider the following:

a. Research in peer-reviewed journals or other journals that are considered to have reliable information. Do not use sources from the secular press (e.g., Time, Newsweek, or Wikipedia). Review the guidelines for acceptable sources by reading the “Academic Research” section within the Student Responsibilities and Policies tab under Course Home on the left navigation toolbar in your online course.

b. Identify at least five academic sources, at least three that can be found in the Ashford Online Library. If you do find something on the World Wide Web, it must be authored and be a reliable source.

c. In these journals, the research and information is either reviewed by an editorial team (such as for the Academy of Management Review) or a group of peers (such as in many journals you find through the Ashford Online Library).

For information regarding writing your thesis statement and annotated bibliography, refer to the Ashford Writing Center within the Learning Resources tab on the left navigation toolbar in your online course.

The paper must be four pages in length and formatted according to APA style. You must use at least five scholarly resources (at least three of which can be found in the Ashford Online Library) other than the textbook to support your claims and subclaims. Cite your resources in text and on the reference page. For information regarding APA samples and tutorials, visit the Ashford Writing Center, within the Learning Resources tab on the left navigation toolbar, in your online course.

 

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