MSP Gantt chart schedule

Theme Park Project

For CP-3, we will leave CP-2 behind and start fresh. CP-3 is a performance review of a new indoor theme park project. You will utilize the provided project information and data to create a new project schedule, which will represent your project at a specific point during implementation. You will load the information and data into Microsoft Project where the data will serve as the basis for project monitoring and control and earned value analysis. The output of the analysis, combined with a control plan, will be used to support the continuation of your project. �
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The CP-3 Project Performance Report will be structured with the following sections. �
�Cover page including assignment, project title, course, and student contact information �
�Executive summary summarizing the content from the entire document with quantifiable highlights, such as overall project cost and schedule performance and estimate to completion, and making the pitch to project stakeholders to continue the project �
�Schedule 1 an MSP Gantt chart schedule (required) that incorporates the provided project data, established baseline, and proper review date representing the anticipated 50% completion date �
�Performance analysis utilizing earned value data to analyze the project cost and schedule performance �
�Estimate at completion including a forward-looking estimate of the project completion date and the final project costs �
�Cost and schedule control plan providing a corrective action plan to bring the project back in line with your project baseline �
�Revised estimate at completion including the corrective actions from the control plan along with the resulting cost impact and schedule impact �
�Schedule 2 including revised MSP Gantt chart schedule (required) that reflects the impact of your corrective actions �

Executive Summary

The project is expected to commence on April 14 2008 while the desired date of completion is expected to be on December 17, 3008.The total budgeted costs for the project is $4,449,520 while the initial baseline costs amounted to 4,439,300. The major activities include site layout and grading that is expected to commence on August 14, 2008 and end on 15^th October while masonry work is scheduled to take 60 days commencing on July 14, 2008 and it’s scheduled to end on 3^rd October 2008. Plumbing and electrical works are expected to commence on September 19 and July 28 respectively. Plumbing works is expected to last for 85 days while electrical works would take 95 days. The installation and training of the Ferris wheel is expected to lasts for 137 days commencing on 14 April, 2008 and ending on October 21 2008.

The reschedule of the project to commence the incomplete work after Oct1 2008, would mean that most of the other tasks would also be deleyed (Lock, 2007).

Introduction

The Theme Park Project is a project that is scheduled to commence operations on April 14, 2008 and its desired completion date is December 17 2008. The baseline costs are estimated to be $4,449,920.

The Earned value is made up of the Budgeted Cost of Work Schedule, Budgeted Cost of Work Performed and the actual cost of work performed (Ireland, 2006).

The Budgeted Cost of Scheduled Work (BCSW) = Planned Value (PV) (Cleland & Gareis, 2006). 

Actual Cost of Project work Performed (ACWP) = Actual cost (AC)

Budgeted Cost of Project Work Performed = Earned Value.

The Budgeted Cost of ScheduledWork shows the project financial plans and the period when the costs would be incurred.

The Theme Park project has scheduled the activities to be completed before the December 17 2008. However, as per the new date for all the incomplete projects to restart in October 2008, the new completion date would be December 11, 2009 at 5pm. This completion date would be feasible only if the projects that had already started would continue from where the activities stalled. The total days taken would amount to 435 days.

The actual cost of work planned (ACWP) amounted to $2,666,960 while the budgeted costs of work scheduled amounted to $4,439,300 and the Budgeted cost of work planned amounted to $4,429,300. The schedule variance amounted to $10,000.

The baseline costs for the project at 40% amounted to 696,300 while the actual costs for the same period amounted to 2,666,960 (Phillips, 2003). 

		Data
Year	Quarter	Budget Cost	Baseline Cost	Cost	Actual Cost
2008	Q2	0	28400	221113.66	28400
	Q3	0	286200	873430.31	286200
	Q4	0	259700	1211368.58	259700
2008 Total		0	574300	2305912.55	574300
2009	Q1	0	62400	272780.93	62400
	Q2	0	5200	15866.66	5200
	Q3	0	0	0	0
	Q4	0	54400	72400.01	54400
2009 Total		0	122000	361047.6	122000
Grand Total		0	696300	2666960.15	696300

		Data
Year	Quarter	Earned Value	Planned Value	AC
2008	Q2	171800	171800	171800
	Q3	1740880	1740880	1740880
	Q4	0	0	0
2008 Total		1912680	1912680	1912680
2009	Q1	0	0	0
	Q2	0	0	0
	Q3	0	0	0
	Q4	0	0	0
2009 Total		0	0	0
Grand Total		1912680	1912680	1912680

The earned value amounted to 1,912,680.

		2008
Schedule Variance (SV)	Earned Value (EV) – Planned Value (PV)	0
Cost Variance (CV)	Earned Value (EV) – Actual cost (AC)	0
Schedule Performance Index (SPI)	Earned Value (EV)/Planned Value	0

The Gant Chart for the period ending December 12, 2009

The planned value for the project was $4,439,300

To return the project back to its track, all the project activities would be allowed to continue as per the initial schedule. The tasks would commence on April 14 and continue till the scheduled completion date on 17 December 2008.

The actual costs incurred as on October 1^st 2008 were 2,666,960 while the total baseline costs for the whole project amounted to $4,429,300. The budgeted costs were $4,449,920 for the whole project. The balance of $20,620 represented a favorable variance (Cleland & Gareis,  2006). 

To ensure completion of the project as scheduled the difference of the total costs of resources between the baseline costs and the actual costs have to be provided.

		Variance	Actual	Baseline
		1762340	2666960	4429300
Cost to completion			1762340
			4429300	4429300

To conclude, the project would be on a better position if it continued with the original plan to end the project in December 17 2009. Stopping the project and rescheduling the incomplete tasks to commence on October 1 2008 was a bad move as it would result in a lot of crisis.  However, costs are also affected by other economic trend that is existing within a particular region or economy. Other factors that may affect the project are the labor costs and pilferage of materials.

To reduce the costs totally, then additional costs spent on slabs on Grade and flooring together with the additional amounts spent on footings foundation can be recovered by encouraging more production over lunch hours and other overtimes payable in the evening.
References

Ireland, L.R. (2006) Project Management. McGraw-Hill Professional.

Lock, D. (2007) Project Management (9th ed.) Gower Publishing, Ltd.

Phillips, J. (2003). PMP Project Management Professional Study Guide. McGraw-Hill Professional.

 Cleland, D.I. & Gareis, R. (2006). Global Project Management Handbook. McGraw-Hill Professional. 

Harrison, F.L. & Lock, D. (2004). Advanced project management: a structured approach. Gower Publishing, Ltd.

Index

		Data
Tasks	Tasks 01	Baseline Cost	Cost	Actual Cost
Theme Park 2	Theme Park 2	0	0	0
	Site Layout & Site Grading	4000	9200.11	5200
	Footings & Foundations	28600	128600.01	28600
	Masonry 60 days	31200	91200	31200
	Frames, Columns and Beams	20800	54800	20800
	Joists & Roof Deck	15600	95599.98	15600
	Slab on Grade	18200	318199.98	18200
	Rough Carpentry	18200	88200	18200
		0	0	0
	Interior Studs	10400	18400	10400
	Interior Drywall	15600	27600	15600
	Painting	54400	72400.01	54400
	Elevator	15600	47599.98	15600
	Doors	2600	12600	2600
	Custom Theme Painting	24000	36000	24000
	Flooring	10200	210200.01	10200
	Finish Carpentry	10200	60200.01	10200
	Bathroom Compartments / Accessories	1560	7560	1560
	Plumbing	0	0	0
	Hangers & Supports	48000	60000	48000
	Pipes & Fittings	48000	64000	48000
	Test	6000	6800	6000
	HVAC	0	0	0
	Stacks & Vents	30000	79999.98	30000
	Hangers & Supports	30000	34000.02	30000
	Ductwork & Piping	30000	46000.02	30000
	Test	5000	7000	5000
	Electrical	0	0	0
	Boxes	16000	30000	16000
	Conduit	16000	22000	16000
	Wiring Devices/Switches/Receptacles	12800	20800	12800
	Light Fixtures	12800	28800	12800
	Test    5days	3200	7200	3200
	Mechanicals Complete	0	0	0
	Attraction Install and Training	0	0	0
	Ferris Wheel	0	0	0
	Ferris Wheel to ship	2400	102400	2400
	Ferris Wheel Legs & fan install	4800	6400	4800
	Ferris Wheel gondola install	4800	6000	4800
	Ferris Wheel MEP install	4800	6800	4800
	Ferris wheel platform design	1600	2000	1600
	Ferris Wheel Platform	4000	10000	4000
	Ferris Wheel Railing	4800	6800	4800
	Ferris wheel turnstile	2400	3200	2400
	Ferris wheel Training	800	2800	800
	Ferris Wheel Certification	800	1200	800
	Ropes course install & Training	24000	96000	24000
	Climbing wall install & Training	8000	40000	8000
	Carousel install & Training	10400	22399.99	10400
	Bowling install & Training	32000	172000	32000
	Go Cart install & Training	36000	392000.04	36000
	Mini Golf install & Training	12000	38000.01	12000
	Attraction install and training complete	0	0	0
	Furniture Installation	3400	47400	3400
	System and Security Training	4080	8080	4080
	Final Walkthrough	260	6520	520
	Grand Opening	0	12000	0
Theme Park 2 Total		696300	2666960.15	701760
Grand Total		696300	2666960.15	701760