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Part 1 Team 5 Current Event Key Terms
1. baseline referred to the amount of initial federal funding 2. Project scope crumbled due to funding issues 3. project cost management project cost management team was unable to handle
the changes 4. triple constraint Meeting the triple constraint was an issue because the scope
was constantly changing. 5. project the project budget increased 5 times from initial baseline. 6. project sponsor looking for project sponsor to provide some aid to continue the
construction of the hospital 7. project budget went from $328 million to $800 million 8. project deadline project deadline was pushed back to 2015 9. construction management practices the action VA has taken to change their
cmp 10.project planning phase did not end until the end of 2009
Jan’s question: What group, from the textbook, deals with changeorders? Change Control Board Sponsor Question: What could you do to prevent future scope issues? Part 2 Team 4 Current Event Key Terms
1. baseline Qatar’s World Cup project may not meet schedule baseline 2. overrun cost of infrastructure to Qatar greatly exceeds estimates 3. Budget at completion initial estimated budget for infrastructure and labor costs 4. Indirect costs costs for rail and metro systems, and for a new airport 5. Intangible costs deaths of migrant workers that may be related to the World Cup
construction
6. Return on investment Qatar will most likely lose money from hosting the World Cup in the long run, but may benefit economically in other sectors such as increased tourism and foreign investment
7. risk/risk management Qatar faces the risk of losing the World Cup host 8. outsourcing Qatar needs to outsource resources which could lead to potential
termination of their World Cup host. 9. process There was possible corruption on the bidding process of deciding who
would host the World Cup 10. project cost management The title of their project.
Sponsor Question: How could Qatar better their risk management? Part 3 Earned Value Super Bowl Party
Earned Value Scope Time Cost
Plan 4 Rooms 4 Weeks $8000
Actual 1 Room 3 Weeks $4000
● What is the Budget at Completion? ○ $8000
● What is the PV?
○ ¾ * $8000 = $6000
● What is the EV? ○ ¼ * $8000 = $2000
● What is the AC?
○ $4000
● What is the CV? ○ $2000 - $4000 = -$2000
● What is the SV? ○ $2000 - $6000 = -$4000
● What is the CPI?
○ $2000/$4000 = 1/2
● What is the SPI? ○ $2000/$6000 = 1/3
● Based on the work so far, what is the EAC?
○ $8000 / ½ = $16000 ● Based on the work so far, what is the Estimated Time to Complete?
○ 4 Weeks / ⅓ = 12 Weeks ● Based on the work so far, what is the Variance At Completion?
○ $8000 - $16000 = -$8000 ● Is it ahead or behind schedule? Is it over or under budget?
○ The project is behind schedule and over budget.
● Should you continue your project? Why? ○ This project should not be continued, it has already almost taken
the whole time to only do 1 room at half the original budget. The expected time frame to finish the project is 3 times the original estimate and it will take an estimated double the cost.
