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Week 11

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9 views13 pages

Week 11

Uploaded by

farazkh1311
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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UT Dallas Project Management Symposium Copyright © Lipke 2014 1

Advanced Topics in Project


Management: Spring 2024

CALCULATING EARNED
SCHEDULE

UT Dallas Project Management Symposium Copyright © Lipke 2014 3


Recap: Earned Schedule
RECAP: Schedule (time) based measures
Cost-$ based SPI and SV misleading at end of project.
Time based SPI and SV resolve this issue.

ES may be realized between a time period.


Here, it occurs somewhere in mid March
Example: Find the ES, SPI(t) and SV(t).
Assume PD=10 months
Exercise: Now at end of month 6. ES occurs between month 4 and 5.
EV = 1350, PV (April) = 1290, PV (May) = 1485
Find the ES value

Predicting the duration


The ‘independent estimate at completion’ (IEAC) allows
the analyst to estimate the duration of a project according
to the information available for a period of time.

IEAC(t) = PD / SPI(t)

For previous example, ES=6.5, AT=8


SPI(t) = 6.5/8 = 0.8125

If PD was 10 months, IEAC=10 / 0.8125 = 12.31


The project is likely to complete in 12.31 months
UT Dallas Project Management Symposium Copyright © Lipke 2014 7

Summary:
Earned Schedule Concept
• Formula
• ES =C+I
where: C = number of time increments.
I = (EV – PVC) / (PVC+1 – PVC)
• Indicators
• Schedule Variance: SV(t)
= ES – AT
• Schedule Performance Index: SPI(t) = ES / AT

• IEAC(t) = PD / SPI(t)

Homework
For a project, the budget is 8000$ and the planned duration
is 8 months. Time now is end of June. The EV is 3200$. The
planned value in May was 3000$ and that of next month is
4100$.

Find the ES, SPI(t), SV(t) and IEAC(t) for this project.
Revised Homework Problem
Consider given monthly ES values for a 6-month project.
It means that you have earned 1.105 at end of month 1, and 2.063 at
end of month 2 and so on… This means you are going ahead of schedule
as evident from EV values also which are greater than PV values.

PV ($)

EV ($)

Find SV and SPI (both $ and time based) for each


month. Comment on project status.

Adv Topics in PM
Spring 2024

Quality Management Processes


Decision Making Tools

Applied Mathematics 16
6 - 17

Multi-Weighted Scoring Model for


Decision Making

Applied Mathematics 18
Weighted Scoring Model
19
A weighted scoring model is a tool that provides a
systematic process for selecting between alternates
based on many criteria
 First identify criteria important to the selection process
 Then assign weights (percentages) to each criterion so they add
up to 100% or 1.0
 Then assign scores to each criterion for each alternative
 Multiply the scores by the weights and get the total weighted
scores
The higher the weighted score, the better

Scoring Model
Example 1

Mall selection with four alternatives and five criteria:


Grades for Alternative (0 to 100)
Weight
Decision Criteria (0 to 1.00) Mall 1 Mall 2 Mall 3 Mall 4
School proximity 0.30 40 60 90 60
Median income 0.25 75 80 65 90
Vehicular traffic 0.25 60 90 79 85
Mall quality, size 0.10 90 100 80 90
Other shopping 0.10 80 30 50 70
S1 = (.30)(40) + (.25)(75) + (.25)(60) + (.10)(90) + (.10)(80) = 62.75
S2 = (.30)(60) + (.25)(80) + (.25)(90) + (.10)(100) + (.10)(30) = 73.50
S3 = (.30)(90) + (.25)(65) + (.25)(79) + (.10)(80) + (.10)(50) = 76.00
S4 = (.30)(60) + (.25)(90) + (.25)(85) + (.10)(90) + (.10)(70) = 77.75

Mall 4 preferred because of highest score, followed by malls 3, 2, 1.


Example 2: Sample Weighted Scoring Model for Project Selection

Consider the following 7 criteria and ratings for 4 projects.


24
Which project should be selected?

Example 2: Sample Weighted Scoring Model for Project Selection

25
Exercise
„ Supplier Selection: Choose one supplier based upon given criteria.

Note that criteria 3 and 5 are on a different scale. These are large numbers
which will dominate the weighted sum.
Applied Mathematics

Normalizing the data


We need to normalize the data values in Criteria 3 and 5 so that
they are within a 1 to 5 scale.

Use following formula:

In Criteria 5, max=1500, min=900, new max=5, new min=1


v is each score that needs to be normalized.
Each of the Supplier scores can now be normalized.
For example, score for supplier 2 becomes:
=3
Homework

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