APPLIED PROJECT (CPL-5559)-CPMT-0015

WEEK 11

2312 SPRING FIELD CRES

OAKVILLE L6J 7P8

SUBMITTED TO: DIANA OLIVEIRIA

PROJECT TEAM MEMBERS

1. Baljeet singh C0697512

2. Jarmanjeet singh C0696897

3. M V Kishore C0696545

4. P Kartik C0696086

5. S Rahul Reddy C0694232

 TABLE OF CONTENT

SR.NO CONTENTS PAGE NO.

1. Project time management 3-4

2. Process of time management 4-5

3. EVM analysis 5-6

4. S Curves 7-8

5. Variance analysis 8-9

PROJECT TIME MANAGEMENT
This is the process of establishing of all the policies, procedures and documentation required for
managing and controlling project schedule throughout all the stages of construction. The main output of
this process is a time management plan. The time management plan is a component of the PMP which
establishes the specific standards for developing, monitoring and controlling the schedule.

The main inputs are

 Project management plan

 Project charter

And the main output is

 Time management plan

PROCESS OF TIME MANAGEMENT PROCESS

Project time management is made of 7 processes they are

 Plan schedule management: In this process, you as a project manager establish all the
procedures, policies and documentation required for managing and controlling the project time
from the starting state.

 Define activities: This process identifies and project tasks and documents what you need to do
to complete project deliverables.

 Sequence activities: Using the identified activities you will now have to create a list by sorting
out the activities and putting them in an order.

 Estimate activity resources: in this process, we have to calculate the resources required to
complete each activity which includes equipment, human resources and supplies need to
complete the activity.

 Estimate activity durations: in this step, you will calculate the time each activity will take to
finish by considering the resources allocated to it.

 Develop schedule: With all the existing the data we can develop the schedule which is the most
important process of the construction.

 Control schedule: This is the process where you monitor and control and update your project
schedule, making sure changes are managed appropriately.
Evm analysis: Earned value analysis (EVA) is a standard procedure for measuring the progress of the
ongoing project or to forecast the finish dates of the project considering current considerations. This
analysis can be done at any point of time during the phase of construction, so it can be used as a
snapshot at that particular point of time and can be useful in identifying lag in the work priory.

Planned value: first element in earn value analysis is planned value (pv). This is the estimated value for
an allotted work to be done. As per PMBOK pv is also referred as budgeted cost of work scheduled.

 Planned value = (planned% complete) X (BAC)

Budget at completion (BAC) is the sum of all the work to be done with current considerations and sum
of all the work done till now.

Earned value: Earned value is the total actual work done till date. This is expressed in terms of budget
assigned to that work. Ev is also called as budgeted cost of work performed.

 Earned value = % of work completed X BAC

S-Curves: A cumulative display of both cost and working hours will be shown in this s-curve. This is a
graphical representation of the elements cost and work hours. The name s-curve is derived from the
typical “S” shape of the curve, mostly the curve will be flat in the beginning and at the end it will be a
steep slope in the middle. A good graph will start slowly accelerate rapidly up to end and closes
smoothly.

Variance analysis:
Schedule variance: schedule variance analysis is a part of earned value management in which the
variance or the difference in planed work and the actual work done is calculated.

 Schedule variance (SV) = Earned value (EV)– Planned value (PV)

If the schedule variance is negative it means the project is behind schedule and positive represents
ahead of schedule and “0” means on schedule.

Schedule performance index (SPI): schedule performance index is the ratio of the budget for the
work completed to the budget of the work planned.

 Schedule performance index (SPI) = Earned value (EV) / Planned value (PV)

By subtracting SPI from 1 it shows the project progress percentage ahead or behind the schedule or if
SPI > 1 means ahead of schedule, if SPI < 1 means behind schedule and if SPI = 1 project is on schedule.
TOOLS AND TECHNIQUES USED TO CONTROL PROJECT TIME:
Control schedule it is the process where you are monitoring the status of project activities to update any
changes and documenting and controlling any changes in the time. The main benefit of this activity is we
can recognize the changes and take corrective and preventive actions to minimize the risk caused by it.

 Performance reviews
 Resource optimization techniques
 Leads and lags.

Forecasting: forecasting is the technique generally used to predict the final end results or progress of
the project with considering the current situations and criteria.

Estimate at completion (EAC): estimate at completion is the sum of actual cost and the difference
between budget at completion and earned value.

 Estimate at completion (EAC) = Actual cost (AC) + (Budget at completion (BAC) – Earned value
(EV))

Variance at completion (VAC): variance at completion is the difference in the budget at completion
(BAC) and Estimate at completion (EAC).

 Variance at completion (VAC) = BAC - EAC

Estimate to completion (ETC): Estimate to complete (ETC) can be derived from the difference between
estimate at completion (EAC) and Actual cost (AC).

 Estimate to completion (ETC) = Estimate at completion (EAC) – Actual cost (AC)

Project Earned Value Analysis
Project Earned Value Analysis measures the health of a project by looking at cost information and schedule information concurrently. It t
on schedule and on budget, as well as whether the project is on budget for the amount

Metric Abbrev. Description For

Actual Cost AC Total costs actually incurred so far.
Amount of budget earned so far based on physical
work accomplished, without reference to actual
Earned Value EV costs.
The budget for the physical work scheduled to be
Planned Value PV completed by the end of the time period.
Measure of cost overrun. The difference between
the budget for the work actually done so far and
Cost Variance CV the actual costs so far.
Cost efficiency ratio. A CPI of 1.00 means that the
costs so far are exactly the same as the budget for
Cost Performance Index CPI work actually done so far.
Measure of schedule slippage. The difference
between the budget for the work actually done so
Schedule Variance SV far and the budgeted cost of work scheduled.
The schedule efficiency ratio. An SPI of 1.0 means
Schedule Performance Index SPI that the project is exactly on schedule.
Cost Performance Index
CPI = EV / AC
Over (< 1) or under (> 1) budget.
Schedule Performance Index
SPI = EV / PV
Ahead (> 1) or behind (< 1) schedule.
PROJECT REPORT

ON Calculating Schedule performance index we came to know that we are behind the schedule

On calculating cost performance index we came to know we are under budget

S curve value shows the earned value ,planed value,actual cost at the end of month 6th