calculate the original cost estimate The new cost estimate as of February 26 Changes that can be made to the schedule to complete the project by August 5

calculate the original cost estimate The new cost estimate as of February 26 Changes that can be made to the schedule to complete the project by August 5

AssignmentQuestion Detail: Huston Power, Inc., (HPI), an electrical power-generating company, has hired your firm to refurbish one of its gas turbine units. The manufacturing department works only on the day shift. The staff of the manufacturing department is paid on an hourly basis and is paid one-and-a-half times the salary for working overtime. Given below are the staff salaries.

Resource

Hourly Rate (€)

Notes

Project manager

50

Lead engineer

45

Design engineer

40

Software engineer

40

Hardware engineer

40

Manufacturing staff

150

The manufacturing staff consists of six people.

Installation staff

75

The installation staff consists of three technicians.

The project plan is as follows:

Task #

Description

Duration (days)

Start

Finish

Predecessor

1

Acceptance of the contract

0

1/4

1/4

2

HPI engineering site survey

3

1/4

1/6

1

3

Hardware design

14

1/7

1/26

2

4

Human-Machine Interface (HMI) software design

20

1/27

2/23

3

5

HMI software development

25

3/24

4/29

11

6

Software integration and testing

10

4/30

5/14

5

7

Unit 1 hardware testing

3

2/10

2/12

17

8

System testing

5

5/17

5/21

6,7,3

9

HPI factory acceptance test (FAT)

5

5/24

5/28

8

10

Customer-witnessed FAT

5

6/1

6/7

9

11

Functional design specification

20

2/24

3/23

4

12

HPI review design documentation

2

2/24

2/25

4

13

Customer review functional design

5

2/26

3/4

12

14

Preparation of FAT specifications

2

1/27

1/28

3

15

Creation of the operations and maintenance manual

10

6/8

6/21

10

16

Final documentation

4

7/19

7/22

25

17

Manufacture unit 1

10

1/27

2/9

3

18

Delivery to the site

4

6/22

6/25

15

19

Travel to the site for installation

1

6/25

6/25

18FF

20

Demolition: Control panel

2

6/28

6/29

19

21

Installation: Control panel

8

6/30

7/9

20

22

Installation: Fuel system

2

7/12

7/13

21

23

Travel from the site after installation

1

7/14

7/14

22

24

Travel to the site for commissioning

1

7/14

7/14

23FF

25

Checking of the cold loop

2

7/15

7/16

24

26

Checking of the hot loop

4

7/19

7/22

25

27

Commissioning

3

7/23

7/27

26

28

Training of the client’s team in operations

3

7/28

7/30

27

29

Training of the client’s team in maintenance procedures

1

8/2

8/2

28

30

Procurement of customer acceptance

0

8/2

8/2

29

31

Travel from the site after commissioning

1

8/3

8/3

30

32

Project closure

2

8/4

8/5

31

33

Project management

150

1/4

8/5

1

The resource usage, by task, is as follows:

Task Name

Resource Names

Acceptance of the contract

HPI engineering site survey

Lead engineer

Project management

Project manager

Hardware design

Design engineer

HMI software design

Design engineer

Preparation of FAT specifications

Lead engineer

Manufacture unit 1

Manufacturing staff

Unit 1 hardware testing

Hardware engineer

Functional design specification

Design engineer

HPI review design documentation

Lead engineer

Customer review functional design

HMI software development

Software engineer

Software integration and testing

Software engineer

System testing

Lead engineer

HPI factory acceptance test (FAT)

Lead engineer

Customer-witnessed FAT

Creation of the operations and maintenance manual

Design engineer

Delivery to the site

Travel to the site for installation

Installation staff

Demolition: Control panel

Installation staff

Installation: Control panel

Installation staff

Installation: Fuel system

Installation staff

Travel from the site after installation

Installation staff

Travel to the site for commissioning

Lead engineer

Checking of the cold loop

Lead engineer

Final documentation

Design engineer

Checking of the hot loop

Lead engineer

Commissioning

Lead engineer

Training of the client’s team in operations

Lead engineer

Training of the client’s team in maintenance procedures

Lead engineer

Procurement of customer acceptance

Travel from the site after commissioning

Lead engineer

Project closure

Lead engineer, design engineer, software engineer

Your company observes UK holidays. For 2010, these holidays are:

January 1

New Year’s Day

April 2

Good Friday

April 5

Easter Monday

May 3

Early May Bank Holiday

May 31

Spring Bank Holiday

August 30

Summer Bank Holiday

December 27

Christmas Day

December 28

Boxing Day

If the project starts on January 4, it will finish on August 5. The contract with Huston Power, Inc. includes penalties if the project completes later than August 5. As of February 26, the following tasks have been completed:

Task Name

Start

Finish

Duration (days)

Acceptance of the contract

1/4

1/4

0

HPI engineering site survey

1/4

1/6

3

Hardware DESIGN

1/7

1/27

15

HMI software design

1/28

2/26

22

Unit 1 hardware testing

2/11

2/17

5

Preparation of FAT specifications

1/28

2/1

3

Manufacture unit 1

1/28

2/10

10

Using the data provided, calculate the following:

  • The original cost estimate
  • The new cost estimate as of February 26
  • Changes that can be made to the schedule to complete the project by August 5
  • The planned value (PV) as of February 26
  • The actual cost (AC) as of February 26
  • The earned value (EV) as of February 26
  • The value of the following as of February 26:
    • Cost variance (CV)
    • Cost performance index (CPI)
    • Schedule variance (SV)
    • Schedule performance index (SPI)
    • Estimate to complete (ETC)
    • Estimate at completion (EAC)

Price: £ 45

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