Cost and Schedule Variances
Discuss about the Project Management for Global Excellence.
The following assignment is the study of the implication of the effective project management process and the alignment of the improved functional and development methods. The use of the improved functional development would be implied for listing the activities of the project and forming the utilization of the operations for forming the utilization of the operations (Heldman 2018). It is important for aligning the utilization of the operations and it would also be deployed for listing the utilization and the successful for using the analysis of the cost indicating factors for the project, the detailed status reports and the alignment of the risk analysis successfully. The implication would be deployed for forming the utilization of the study of the team environment analysis for forming the implication development.
The project had been facing many issues due to the lazy behaviour of Tony, the previous owner. The project development had seen the delay in project completion due to the lack of the enthusiasm in the project manager. The activities of the project were scheduled to be half completed in the expected duration of 2 months. However, the project only finished by 43.75 % in the time interval of 2 months. The following table would show the cost and schedule variances of the project,
|
Estimated |
Actual |
|||
|
Total Budget |
1200000 |
Ground Floor |
100 |
75 |
|
Schedule |
120 |
First Floor |
50 |
25 |
|
work |
100 |
Second Floor |
50 |
25 |
|
Top Floor |
0 |
50 |
||
|
Total work |
50.00% |
43.75% |
||
|
Duration |
60 |
60 |
||
|
Cost |
600000 |
675000 |
||
|
Planned Value |
600000 |
|||
|
Earned Value |
525000 |
|||
|
Cost Variance |
-150000 |
Over budget |
||
|
Schedule Variance |
-75000 |
Behind Schedule |
The calculation of the cost and schedule variances have shown that the project is over budgeted and it is working behind schedule. The completion of the project would take more time and money than expected due to the project being started from the top floor. The top floor works had caused the delay in completion of the project works. The overall expected project duration was 120 days out of which 60 days have been spent. The project should have been half completed till the time being. It had been 60 days and the project had only covered 43.75 days. The project had exhausted $675,000 dollars and the completion of the project can result in exhausting more than $700,000.00 more at this rate.
The detailed status report of the project is based on the project working scenario and the usage of the time being for the exhaustion of the resources for the project completion. The total work required for the office fit out was top floor, ground floor, first floor, and second floor. The project had considered the exhaustion of 120 days along with the budget of $1,200,000. The completion of the project analysis would tend for the alignment of the documentation supporting the exhaustion of the documents. The calculation of the cost and schedule variances have shown that the project is over budgeted and it is working behind schedule. The completion of the project would take more time and money than expected due to the project being started from the top floor. The top floor works had caused the delay in completion of the project works. The overall expected project duration was 120 days out of which 60 days have been spent. The project should have been half completed till the time being. It had been 60 days and the project had only covered 43.75 days. The project had exhausted $675,000 dollars and the completion of the project can result in exhausting more than $700,000.00 more at this rate. The project execution would result in causing the formation of the major issues for the project completion. The delay has resulted in forming the major problems for the completion of the project activities.
Detailed Status report for project
The project was a construction project and it had been almost half completed with the delay and over budgeting conditions. The previous project manager had not been following the proper leadership qualities and hence it resulted in causing severe damage for the execution of the project (Turner 2016). The study of the effective management can result in forming the major issues for the completion of the improved project development. The qualities of the leadership that have impact on project are visioning, decision making, empowering, influencing, communicating, strategizing, and team building. It was important for managing the implication of the improved study and formation of the understanding of the activities supporting the utilization of the profound development of the study. The leadership would be required for taking care of the delay in project and forming the major successful alignment of the activities (Binder 2016). The following leadership qualities are required for the effective execution of the project,
|
Visioning |
The project managers must follow the concept of analysing the situation and the utilization of the proper vision statement for the execution of the project operations. The visioning of the documentation would be deployed for effective alignment of the documentation. |
|
Decision Making |
The key decision making in the projects would be executed for the development would align with the utilization of improved alignment procedures for the key decision making for the project. The key decision making for the project would be executed with the concept of executing the project development. |
|
Empowering |
The empowering would be required for the project activities would be deployed for easing the process of developing the project execution and development. The empowering of the project would result in forming the major alliance for the project. |
|
Influencing |
The influencing factor would support the development of the improved activity alignment and the continuation of the proper documentation. The influence on the project team members would be helpful for the execution of the project. |
|
Communicating |
The communicating would be required for the project activities would be deployed for easing the process of developing the project execution and development. The communicating of the project would result in forming the major alliance for the project. |
|
Strategizing |
The strategizing would be required for the project activities would be deployed for easing the process of developing the project execution and development. The strategizing of the project would result in forming the major alliance for the project. |
|
Team Building |
The team building would be required for the project activities would be deployed for easing the process of developing the project execution and development. The team building of the project would result in forming the major alliance for the project. |
The existing behavior of project team is dependent on the work responsibility and alignment of effective team works. The project was a construction project and it had been almost half completed with the delay and over budgeting conditions (Leach 2014). The previous project manager had not been following the proper leadership qualities and hence it resulted in causing severe damage for the execution of the project. The team had been facing major issues due to the fact that Tony had left the company abruptly and hence, it was needed that project would be deployed for listing the alignment of the activities. The team would require the implication of the activities supporting the implication of the operations and the new manager would be required for executing the project activities. The existing team environment is completely messy and the situation of the existing project is doomed as the project not only lags but is also have consumed more than anticipated resources for the time duration of the two months.
The project completion would be responsible for the successful alignment of the improved functional development and the various types of status reporting are executive status reporting, program level status reporting, project team status reporting, individual team member contribution and status. Risk Analysis would be done for ensuring the implication and the utilization of the activities and implying the operations for successful implication of the documentation and supporting the utilization of the proper documentation (Nicholas and Steyn 2017). The implication of the improved risk analysis would be required for the deployment of the effective alignment methods. The risk factors in the project result in forming the major problems for the execution of the project activities.
Conclusion
The following assignment was based on the study of the implication of the effective project management process and the alignment of the improved functional and development methods. The use of the improved functional development had been implied for listing the activities of the project and forming the utilization of the operations for forming the utilization of the operations. It was important for aligning the utilization of the operations and it had also be deployed for listing the utilization and the successful for using the analysis of the cost indicating factors for the project, the detailed status reports and the alignment of the risk analysis successfully. The implication had been deployed for forming the utilization of the study of the team environment analysis for forming the implication development. The study had helped in listing the utilization of the improved functional and effective development for the listing the major considerations for the project executions.
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