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Gantt Chart: Legend: Critical Path Not Critical Path Slack Time

The document contains information about project planning and scheduling using Gantt charts and earned value management including: 1) A Gantt chart showing tasks and timelines for a project from January to May. 2) Explanations of resource leveling, key earned value formulas, and an example of earned value calculations after 7 months of a 1-year project. 3) A diagram illustrating how earned value, budget, actual costs, and schedule variance are depicted on an earned value chart.

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87 views10 pages

Gantt Chart: Legend: Critical Path Not Critical Path Slack Time

The document contains information about project planning and scheduling using Gantt charts and earned value management including: 1) A Gantt chart showing tasks and timelines for a project from January to May. 2) Explanations of resource leveling, key earned value formulas, and an example of earned value calculations after 7 months of a 1-year project. 3) A diagram illustrating how earned value, budget, actual costs, and schedule variance are depicted on an earned value chart.

Uploaded by

mujtabanaqvi11
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Gantt Chart

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Process Doc Contract Plan/Get data Perform tasks Write report

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Test/deliver

Pakistan Institute of Management Legend: Red = critical path; Blue = not critical path; Green = slack time

GANTT CHART

Gantt Chart for Project X

Pakistan Institute of Management

RESOURCE LEVELING Resource leveling aims to minimize the period-by-period variations in resource loading by shifting tasks within their slack allowances.

Figure: Before resource leveling

Figure: After resource leveling

Main Planning Activities; Defining and agreeing Scope statement Creating WBS (upto WP level) Defining activities and their predecessors Estimating resources (Time, People, Equipment, Materials etc., and associated Risks etc) Draw network diagram, determine CP and Float/Slack Make GANTT chart and do Resource Levelling Make Project Management Plan

Key Earned Value (EV) Formulas


Earned Value = Budgeted Cost of Work Performed (BCWP) Calculate BCWP by taking budgeted cost X % physical completion Cost Variance = CV=BCWP-ACWP (actual cost) Schedule Variance = SV=BCWP-BCWS (budgeted cost) Cost Performance Index = CPI=BCWP/ACWP Schedule Performance Index = SPI = BCWP/BCWS

Earned Value Calculations for a One-Year Project After Seven Months


Activity Planning and Staffing Prototype Design Construct Prototype Test/Evaluate Prototype Full Design Specs Documentation Site Preparation Construction Test/Certification Finishing Maintenance Training Monthly Plan 3 5 11 13 15 16 28 27 83 24 73 54 0 61 0 27 0 13 0 Jan Feb Mar Apr May Jun Jul 3 2 3 3 8 8 5 10 5 6 2 8 3 2 3 20 1 3 50 50 10 20 6 4 8 4 4 8 0 1 1 1 Aug Sep Oct Nov Dec Plan 5 6 16 15 14 8 14 140 20 12 4 254 83 % Complete EV 100 100 100 80 50 12 36 15 0 0 0 5 6 16 12 7 0.96 5.04 21 0 0 0 73

BCWS or Cumulative Plan


Monthly Actual ACWP or Cumulative Actual Monthly EV BCWP or Cumulative EV BCWP = EV = 73

3
4 4 3 3

8
4 8 5 8

19
10 18 11 19

32
11 29 12 31

47
12 41 11 42

63
15 56 7 49

91 145 206 233 246 254

BCWS = 91
ACWP = 83 CV=BCWP-ACWP SV=BCWP-BCWS CPI=BCWP/ACWP SPI=BCWP/BCWS Estimated time to complete Estimated cost at completion -10 -18 0.9 0.8 15 289 (original plan of 12 months divided by SPI of 80%) (original plan of 254 divided by CPI of 90%)

Earned Value Chart for a Project


EAC

Project budget base line BCWS COST ACWP Cost variance

BAC

ETC

Schedule variance Delay in completion

BCWP TIME

BCWS = Rs. 25,000


ACWP = Rs. 27,000

BCWP = Rs. 25,000


What are CPI and SPI?

How is the project doing?

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