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Sep Oct Figure 2: Earned Value Status of a 10-months project at July 31 Activity Jan Feb Mar Apr May Jun Jul Aug Plan project 2,000 2,000 Analyze requirements 3,000 7,000 Develop Data Model 3,000 3,000 Design database 6,000 6,000 Design forms &reports 4,000 12.000 Construct prototype 10,000 Test/evaluate prototype 4,000 6,000 Incorporate feedback 4,000 Test system 10,000 9.000 9,000 Monthly AC 2,000 6,000 8,000 9,000 13,000 21,000 10,000 2,000 Monthly EV 6,000 9,000 9,000 14,000 22,000 a. Calculate the Cost Variance (CV) as of 31st July 2008. 5 marks b. Calculate the Schedule Variance (SV) as of 31st July 2008. 5 marks What is the predicted total cost of the project when the project finishes. 5 marks d. What is the predicted finish date of the project. 5 marks e. Discuss the advantages and disadvantages of this technique (one of each). 5 marks C. Sep Oct Figure 2: Earned Value Status of a 10-months project at July 31 Activity Jan Feb Mar Apr May Jun Jul Aug Plan project 2,000 2,000 Analyze requirements 3,000 7,000 Develop Data Model 3,000 3,000 Design database 6,000 6,000 Design forms &reports 4,000 12.000 Construct prototype 10,000 Test/evaluate prototype 4,000 6,000 Incorporate feedback 4,000 Test system 10,000 9.000 9,000 Monthly AC 2,000 6,000 8,000 9,000 13,000 21,000 10,000 2,000 Monthly EV 6,000 9,000 9,000 14,000 22,000 a. Calculate the Cost Variance (CV) as of 31st July 2008. 5 marks b. Calculate the Schedule Variance (SV) as of 31st July 2008. 5 marks What is the predicted total cost of the project when the project finishes. 5 marks d. What is the predicted finish date of the project. 5 marks e. Discuss the advantages and disadvantages of this technique (one of each). 5 marks C

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