Unit 5 – Individual Project
In the previous weeks, you developed a plan for the management of acquisition projects.
In Unit 1, you discussed which tools would be the most appropriate for managing cost, schedule, and technical performance.
In Unit 2, you evaluated the difference in managing a project if it is small in nature.
In Unit 3, you focused specifically on the guidelines for acquisition projects.
In Unit 4, you incorporated cost methods and tools to assist you in project tracking and monitoring.
This week, you will be incorporating earned value management and how overall cost and schedule performance will be monitored and controlled.
Complete the earned value table below and calculate the schedule variance, cost variance, and EAC for each week. Then, discuss the results. For example, is the project ahead or behind schedule? Is it over or under budget?
Discuss how you will monitor progress and what metrics, reports, and graphs you will use to monitor progress.
Discuss how you will respond to deviations (specifically around schedule compression and a contingency budget).