Schedule Control

Course Project, Part 2

PROJ 592 - Project Cost & Schedule Control

Executive Summary

This project review document analysis and presents reports on the Indoor Theme park project at its schedule halfway mark, where expected completion should be at the 50% stage. However it is seen that the project at an overall level is 40% complete with 60% to be covered in the coming period. Due to this the project is behind in schedule and it is also seen that there have been cost overruns on some items leading to extra fixed costs of more than $200,000. Given this situation, it reflects delay in project and if no corrective actions were taken, this can result in postpone of indoor theme park opening date. As reflected by earned value analysis, this project is running behind schedule and the budgeted cost of work performed is less than the actual cost of work that has been done. Hence, there are immediate corrective actions that are needed to control project cost and the project schedule needs to be rearranged or reorganized that would lead to the project coming back on track and can be completed by its planned completion date. Below report presents details of its current state with cost and scheduled indicators and actions taken to bring the project back in track that would lead to completion as scheduled.

Schedule 1 – Current view of the project before corrective actions

The schedule of the project can be seen on the next page, and it can be seen that the project is behind schedule and is set to be completed on December 30th 2008 and not as planned on December 19th 2008. To bring the project back on track, analysis of the current state of the project and various corrective actions are taken that are discussed in subsequent sections. 

Performance Analysis and Estimate at Completion on above schedule and before corrective data -

The details Earned Value numbers at a task level are given in the Earned Value Report in the next page. As can be seen from the below...