Tree Trimming Project Analysis
Running a project entails lots of aspects. One of the major aspects required for a project to run is the earned value. Earned Value is a way through which the status of a budget and its schedules is estimated. The main objective of the earned value is to come up with an estimate that is applicable during the course of the project (Larson & Gray, 2014). Based on the Tree Trimming Project case study, Will Fence, who is a timber and Christmas tree farmer is used as a case study. The main objective of this paper is to determine if Mr. Will used earned Value in his business.
Is Wil over, on, or below schedule? Explain.
Based on the information provided by Will, it can be deduced that he is on a schedule for his original planning. Will Sheared 6000 trees within a span of five days. In order to determine the work done, Will divided the total number of trees sheared by the number of trees in the field which was estimated to be 24000 trees. This equation could be expressed as follows
6,000 / 24,000 = 25%
The partial payment was thus 25% of $30,000 which sums up to $7,500 (Larson & Gray, 2014).
Is Will Using Earned Value? Explain
Yes, Will is using earned owner Value. This can be exhibited by the data that was collected. The data shows that Will collected 25% of the payment that was made. The payment amounted to $7,500. This reflected his original estimate and his calculation was in track (Larson & Gray, 2014)
How can Wil set up a schedule and cost variance?
Scheduled variance is usually used in showcasing a project’s run time. It determines whether a project is a head or behind the scheduled time. In order to determine scheduled variance, Will was mandated to compare the budgeted cost of work to the budgeted cost of work performed. In order to set up the cost variance, Will had to find the difference between the actual cost performed and the budgeted cost of work that was performed (Larson & Gray, 2014).
What method can Wil use to control any changes in scope to the project, such as change in shape of shearing from his customers?
The possibilities of a customer requesting for a change in the project is high. For this reason, Will must adjust to the evolving process of the project so as to meet the satisfaction of the clients. In this situation, the work must be done to the trees before they are sold. The clients are tasked with putting a request prior to the completion of work. The best method is to stick to the initial plan and avoiding custom orders.
What alternatives are available to Wil to accelerate the completion of the tree trimming project?
In order for Will’s business to remain relevant and profitable, he must speed up the completion of the project. The best way to accelerate the project completion is through increasing the objective of the daily work. Moreover, speeding the process of trimming of trees could also help Will’s business to remain profitable. Finally, addition of the work force could also accelerate project completion and an increase in the business profits.
To conclude, Will’s business is on a positive track. He is doing well with the budgeting and scheduling of his business. Addition of a few changes can accelerate the flow of work for Will’s business.
Larson, E. W., & Gray, C. F. (2014). Project management: The Managerial process (6th ed.). New York, NY: McGraw-Hill Education.