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Describe project cost and the requirements for its determination and application in a production facility.

A project has an expected duration of 34 weeks with a critical path variance of 6. Suppose the project network is given and the critical path is identified on the network. Suppose the normal time, crash time, and the associated cost for each activity is given. You have been asked by your supervisor to prepare a research paper that addresses the follow criteria:

What is the probability that the project will be completed in 32 weeks or less?
If the project is to be shortened by four days, list the process you would take to determine which activities, in order of reduction, would be shortened and the resulting cost.
Describe project cost and the requirements for its determination and application in a production facility.
Analyze implications of changes in the parameters of project timing and cost determination.
Evaluate application of project cost and timing concepts on a firm’s business operations.
Present your findings as a 1-2 page Word document formatted in APA style.

Submitting your assignment in APA format means, at a minimum, you will need the following:

Title page: Remember the running head and title in all capital letters.
Abstract: This is a summary of your paper, not an introduction. Begin writing in third-person voice.
Body: The body of your paper begins on the page following the title page and abstract page, and it must be double-spaced between paragraphs. The typeface should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics except as required for APA level headings and references. The deliverable length of the body of your paper for this assignment is 3–4 pages. In-text academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
Reference page: References that align with your in-text academic sources are listed on the final page of your paper. The references must be in APA format using appropriate spacing, hang indention, italics, and upper- and lower-case usage as appropriate for the type of resource used. Remember, the reference page is not a bibliography, but it is a further listing of the abbreviated in-text citations used in the paper. Every referenced item must have a corresponding in-text citation.
Please submit your assignment.

Part 2

Deliverable Length: 3 slides w/ notes & Word docs.

Using Earned Value to Determine Status

Jennifer turned in her status report for the newly approved mailing activities. She feels that her pieces are on track with nothing for you to worry about. She reports the following information for the critical path tasks:

You review her status report and determine that Jennifer does not have a solid grasp of her status. Ben was unable to provide you with anything more than, “Things are moving along just fine.”

Using earned value measurements along with the other information and metrics available, determine the true status of Jennifer’s portion of the project.
Prepare an updated status report (1 page) for Jennifer and share the measurements and your rationale in your determination of the status for the project.
Create a 2-3 slide presentation explaining the benefits of using EVM.
Be sure to document some instructions (1-page document) for Jennifer and Ben for determining the project status for their next project update to you.
Also, provide materials that would be used to train Jennifer and Ben on the benefits and application of earned value.
The materials should include some guidelines for Jennifer and Ben to help them create and then interpret the metrics.
Please refer to the following multimedia course material(s):

Unit 5: Cost and Schedule Measures
Unit 5: Controlling a Project
Unit 5: Earned Value and Risk Management
Unit 5: Earned Value Anlysis


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