Earned Value Management (EVM) - Critical Chain Project (CCP) Scheduling - Management Assignment Help

Assignment Task:

Answer all questions.  

Question 1 

(a) During a stakeholder meeting, the client wants you to present the physical progress of the project. Discuss the various earned value methods to meet the request of the client.  

(b) Explain what steps a project manager must take to ensure a smooth project closeout. [10 marks] 

(c) Define Earned Value Management (EVM) and discuss its advantages. 

(d) Planned Value (PV), Earned Value (EV) and Actual Cost (AC) are important terms used in a certain  project. Why are these terms important? How do they relate to each other?  

Question 2 

(a) If you have five projects going at once, you will have to manage 15 – 25 team members. Discuss FIVE  (5) challenges that you will face when managing multiple projects. 

(b) In construction projects, Critical Chain Project (CCP) scheduling is a new methodology that applies the  Theory of Constraints (TOC) in the project management to expedite the project. Explain the concept of  TOC. ] 

(c) Using any small project that you have involved with as an example, explain the “good enough” concept in  single CCP scheduling. 

(d) Critical chain is used as an alternative to critical path analysis. One of the main features that distinguishes the critical chain from the critical path is the identification and insertion of buffers. Differentiate between  project buffer, feeding buffer and resource buffer. 

(e) For the following table of information, sketch the network diagram. 

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