Summary Of Schedule Performance Index Essay Sample Paper
Complete the following performance indexes summary table. End of Period PCIB SPI CPI TCPI TSPI TCFR d) Interpret your findings: – What is the current (end of period 4) status of the project? – What is your assessment for the status of the project at completion? b) Complete the following status reports for periods 1-4. 1) Consider the following project information: a) Complete the following project summary graph (where only is shown) by adding and curves. You need to redo the whole graph using Excel, and show PV, EV and AV curves together.
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Schedule Performance Index (SPI) The Schedule Performance Index (SPI) shows how you are progressing compared to the planned project schedule. According to the PMBOK Guide, “The Schedule Performance Index (SPI) is a measure of schedule efficiency, expressed as the ratio of earned value to planned value.” The Schedule Performance Index gives you information on the time efficiency of your project. The Formula for the Schedule Performance Index (SPI) You can find the Schedule Performance Index by dividing Earned Value by Planned Value. Schedule Performance Index = (Earned Value) / (Planned Value) SPI= EV / PV You can conclude that: The completed work is equal to the planned work if the SPI is equal to one; the project is on schedule. You have completed more work than planned if the SPI is greater than one; the project is ahead of schedule. If you have completed less work than planned work if the SPI is less than one. The project is behind schedule. The completed work is equal to the planned work if the SPI is equal to one; the project is on schedule. Make sure you consider all tasks while calculating the Schedule Performance Index. Sometimes, you may only consider those on the critical path and ignore the rest, which will give you an incorrect result. Therefore, make sure that non-critical activities are included. Summary Of Schedule Performance Index Essay Sample Paper
- Explanation for step 1
The Schedule Performance Index gives you information on the time efficiency of your project.
You have a project to be completed in 12 months, and the budget is 100,000 USD. Six months have passed, and 60,000 USD has been spent, but upon closer review, you find that only 40% of the work has been completed so far. Find the Schedule Performance Index and deduce whether the project is ahead or behind schedule. Given in the question: Actual Cost (AC) = 60,000USD Planned Value (PV) = 50% of 100,000 USD =50,000 USD In the question, the Planned Value is not given. However, the project duration is 12 months and 6 months have passed. In this situation, you can assume the budget was distributed evenly for each month. Therefore, in 6 months, 50% of the budget will have been spent. Earned Value (EV) = 40% of 100,000 USD = 40,000 USD Now, Schedule Performance Index (SPI) = EV / PV = 40,000 / 50,000 = 0.8 Hence, the Schedule Performance Index is 0.8 You are behind schedule since the Schedule Performance Index is less than one
- Explanation for step 2
the Planned Value is not given. However, the project duration is 12 months and 6 months have
According to the PMBOK Guide, “The Cost Performance Index (CPI) is a measure of the cost efficiency of budgeted resources, expressed as a ratio of earned value to actual cost.”The Cost Performance Index specifies how much you are earning for each dollar spent on the project. It shows how well the project is sticking to the budget Summary Of Schedule Performance Index Essay Sample Paper