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QSO 645 EARNED VALUE MANAGEMENT JOURNAL

QSO 645 EARNED VALUE MANAGEMENT JOURNAL

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Author: Christine Farr
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Assignment: On April 8, one week before the first internal project review is scheduled to take place, Spencer Tracey and Margaret Porter are reviewing the presentation that Spencer intends to make to their vice president.  Spencer is the project manager and Margaret is the contract manager. The project they are working on has the potential to generate 10 billion dollars over the next 7 years but only if the first year of the project is successfully completed on time (December 31) and within budget ($110 million).
At this point in April, the project is reporting out its status on the first 25% of the work. Spencer feels optimistic about the outcome. He plans to report that the project is on track financially and is still tracking to plan. All tasks for January and February were completed on time; however, a few tasks in March began to slip. These tasks were caught early enough to implement a corrective action to ensure they finished on time. During the 2nd and 3rd weeks of March, overtime was added to bring the past due tasks back in line with the schedule baseline.
Based off this analysis, Spencer believes he will finish the project under budget at about $100 million dollars and on time. Margaret congratulates Spencer on his success so far and asks if she can review the numbers more closely. Spencer agrees and provides her with the following data:
 
Work Unit

Completion Date

$M Budget

Planned Percent Complete

Actual Percent Complete

$M Actual Costs

A

Jan 31

4

100

100

5

B

Feb 28

6

100

100

8

C

Mar 31

10

100

80

12

D

Jun 30

30

0

0

E

Aug 31

26

0

0

F

Oct 31

20

0

0

G

Nov 30

2

0

0

H

Dec 31

2

0

0


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