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QUESTION
Scenario (Value - 30 points): Project UMUC is to produce 200 widgets and is scheduled to take five weeks. Each unit is planned to cost $90. The...
Scenario (Value – 30 points):
Project UMUC is to produce 200 widgets and is scheduled to take five weeks. Each unit is planned to cost $90. The project is severely cost constrained. Performance data for the project at the end of week four is presented below:
160 total units were planned to be produced170 units have actually been producedThe financial manager reported that the business had actually spent $16,500 on the project by the end of week four.
Calculate PV, EV, and BAC.Calculate cost variance (CV). Based on this information, is the project over or under budget? Explain.Calculate schedule variance (SV). Based on this information, is the project ahead or behind schedule? Explain.Calculate cost performance efficiency to three digits. Based on this information, is the project performing better or worse than planned? Explain.Calculate schedule performance efficiency to three digits. Based on this information, is the project performing better or worse than planned? Explain.What is the forecast of project cost at completion assuming remaining work will be performed according to plan? How much budget variance is expected at completion?What is the forecast of funding needed to complete the project (from this point forward)?What cost performance efficiency would be required for the remainder of the project to complete the project within the original budget?As the project financial manager, what recommendations would you make?