En value Management Progress of a Report

Question: Describe about the En value Management for Progress of a Report. Answer: Introduction: The project management refers to the measurement of the cost and progress of a report (Burke 2013). In the case of any project, it is important to make predictions about the future costs and time required for doing the project work (Kerzner 2013). The project management task in this assignment is based on the case study of Australian Centre for Moving Images. The principal of the company is seeking tenders for the provision of computer servers, tape robot systems, data storage and other software devices for its use. The principal of the company has made a plan of purchases in the initial phase. There is also a provision of future purchase. The future purchase is going to be made in the due course; possibly in a period of 2 years. The objective of this report is to make a Gantt chart to execute the entire process and various earned values that would be required for the project. The project plan is done on the basis of the time provided in the case study document. The EV cost diagram a nd other cost diagram gives an idea about the cost that would be required on a regular basis. Discussion: The project report provides an idea about the number of days that would be required to execute the entire process of providing the tender. The case study report shows that the RFT of the Tender has been called on 19th of September 2016. The end period of questions or requests for information based on the tender is on 6th October 2016. Therefore, the time required for the entire process is 17 days. The end date of submitting the tender is 10th October 2016. The time required for the second task is 4 days. The next step in this project work is the completion of evaluation of the tender. The task will require 15 days. The next task is the negotiations with the tenderer. This process will require 7 days. The next step is to notify the tender. This will require 2 days. The next step is execution of proposed contact. The task will require 4 days. The next step is to find out the date of commencement of order. There are in all 9 tasks that are to be performed for this project. The Gantt cha rt for this report is given below: Task name 1 2 3 4 5 6 7 Issue of RFT - Ending time of asking questions by the tenderer Closing time of submitting tender Completion of evaluation of tenders Negotiation of tenderer Formal notification of tenderer Execution of proposed contact Date of commencement of project Table: Gantt chart for the project (Source: Created by author) The next step is to construct the Variance analysis plan of the project. The variance analysis plan gives the planned value, earned value and the total cost required for the execution of the project. The following table gives the costs required for the project: Task Subtask Milestone Status PV EV AC Variance % Schedule Cost 1 Completed 150 100 100 -50 0 2 Completed 40 40 25 0 15 3 Completed 75 75 50 0 25 4 Completed 40 40 30 0 10 5 Completed 75 75 60 0 15 6 Completed 40 40 40 0 0 7 In progress 125 90 110 -35 -20 8 Not started 50 0 0 -50 0 Task Totals 595 460 415 Table: Variance analysis table (Source: Created by author) Estimated cost at completion: The estimated cost at completion is the expected cost required to complete the work. The expected cost to complete the project is 0 in the case of this project. Cost summary: This section describes the impact of the costs that are incurred in the business. The Actual cost of the entire task is less than the earned value. This indicates that there is no threat in the business. S Curve: The S curve is obtained by plotting the cost incurred in various tasks in the business against time. The S curve for this project is given below. Figure: S curve of cost (Source: Created by author) The S curve obtained from the given costs is shown above. The Planned Value of the costs is steeper than he earned value and actual costs. This shows that the Earned Value and actual costs is less than the planned value of the project. Forecast completion date: The project requires in all 58 days to be completed. The start date of the project is 19th September 2016. The end date of the project will be 8th December 2016. Milestone report: The milestone report required for completing the entire project is given below: Milestone Task Scheduled Completion Projected Completion Actual Completion Issue 1 16th September 2016 16th September 2016 16th September 2016 No issue 3 6th October 2016 6th October 2016 8th October 2016 The task is delayed due to the clarification required by tenderer 4 31st October 2016 31st October 2016 2nd November 2016 Due to delay in Tender Closing time 8 12th December 2016 12th December 2016 15th December 2016 Due to delay in Evaluation of contract. Table: Milestone report of the project (Source: Created by author) The above table gives the main milestones required for conducting the project. The milestones of the project are the task 1 that issue of RFT, closing time of submission of tender, completion of evaluation of tenders and the announcement of date of starting of contract. The first task does not have any delay. The time of answering the questions regarding the tender has been delayed. This has led to the delay of all the tasks. Event report: Current Problem Potential Impact Corrective Action There is a problem regarding the submission of tenders as some tenderer could not understand the terms and condition of the tender. The consecutive tasks are all delayed due to the execution of this task. The terms and condition of the tender should be posted in such a way so that it could be easily understood. Table: Event report (Source: Created by author) Conclusion: The project report gives an idea about the time and cost required for the execution of the project. The projected valuation as well as the actual cost is being discussed in this project. A Gantt chart has also been provided for the project. The Gantt chart gives an idea about the total number of days required to complete each task of the project. There is a delay in execution of the entire project work due to clarification required by the people. Therefore, it is recommended from the study that the terms and conditions of the tender should be clearly stated. This would reduce both the time and cost required for the project. References: Burke, R., 2013. Project management: planning and control techniques.New Jersey, USA. Kerzner, H.R., 2013.Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons.