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After collecting the control information on a light rail project within an original budget of 200.000 work hours, the construction contractor is ready for their monthly progress meeting with the client.
A total of 100.000 work hours have boon scheduled to date. with 105.000 work hours earned, and 110.000 work hours paid. The stated progress by the contractor is 60%.
How does the project stand?
Schedule Performance Index (SPI): This measures schedule efficiency and is calculated as:
SPI = Earned Work Hours / Scheduled Work Hours
SPI = 105,000 / 100,000 = 1.05 (indicating the project is ahead of schedule)
Cost Performance Index (CPI): This measures cost efficiency and is calculated as:
CPI = Earned Work Hours / Actual Work Hours Paid
CPI = 105,000 / 110,000 = 0.955 (indicating cost overrun)
Even though the project is slightly ahead of schedule, the cost performance is poor, resulting in a bad cost status despite a seemingly good schedule status. Thus, the overall interpretation should be cautious, but with cost considered primary, the correct conclusion is that the schedule is good, but cost is bad.
Which of the following is a common technique to approximate the standard deviation?
A common technique to approximate the standard deviation, especially in cases where you only have access to the range of data, is to use the formula Range/4. This method provides a rough estimate of the standard deviation when the data distribution is approximately normal.
As the leas cost engineer for the XYZ Services Company, you have been requested to provide pertinent for an equipment rental decision. The unit price of the food stuffs varies, but an average unit selling process has been determined to be $0.50 cents and the average unit acquisition cost is $0.40 cents.
The following revenue and expense relationships are predicted:
If XYZ considers S550 per month the minimum acceptable net income, the number of units that will have to be sold is:
If XYZ Services Company wants to achieve a net income of $550 per month, we first need to calculate the required contribution margin to cover both fixed costs and the desired profit:
RequiredContributionMargin=FixedCosts+DesiredProfit=6,000+550=6,550\text{Required Contribution Margin} = \text{Fixed Costs} + \text{Desired Profit} = 6,000 + 550 = 6,550RequiredContributionMargin=FixedCosts+DesiredProfit=6,000+550=6,550
Using the original contribution margin of $0.10 per unit:
RequiredSalesUnits=6,5500.10=65,500units\text{Required Sales Units} = \frac{6,550}{0.10} = 65,500 \text{ units}RequiredSalesUnits=0.106,550=65,500units
Therefore, 65,500 units must be sold to achieve the desired net income of $550 per month.
Money is value. Having money when you need it is very important. Money can also be valuable when used wisely by knowing when to spend and when to conserve Also, planning now for future expenses can be a plus to the company rather than a debit.
There are several ways to capitalize money and spending. Basically there is the single payment method that has a compound amount factor and a present worth factor. There is the uniform annual series that has a sinking fund factor, capital recovery factor and also the compound amount factor and present worth factor. At this point, we can assure money is worth 10%.
The following question requires your selection of CCC/CCE Scenario 7 (4.8.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
A contractor must purchase a piece of equipment for $150,000. It has an estimated life of 10 years with no salvage value at the end. Ten years from now it will be necessary to purchase another piece of equipment, but this time it will cost $250,000. How much will the contractor need to invest at the end of each year in order to have the right amount?
To determine how much the contractor needs to invest at the end of each year to accumulate $250,000 in 10 years, we use the sinking fund factor formula:
A=F(i(1+i)n1)A = F \times \left(\frac{i}{(1+i)^n-1}\right)A=F((1+i)n1i)
Where:
AAA is the annual payment
FFF is the future amount ($250,000)
iii is the interest rate per period (10% or 0.10)
nnn is the number of periods (10 years)
Plugging in the values:
A=250,000(0.10(1+0.10)101)12,550A = 250,000 \times \left(\frac{0.10}{(1+0.10)^{10}-1}\right) \approx 12,550A=250,000((1+0.10)1010.10)12,550
So, the correct answer is B. $12,550.
A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.
The following question requires your selection of CCC/CCE Scenario 26 (2.5.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
What class of estimate is used for the preliminary design phase of a project?
The design phase is in the preliminary stages and involves new ride technology with no historical data available.
Steps:
Determine which class of estimate is used in this context.
A Class 5 estimate, which is an order of magnitude estimate with +50%/-30% accuracy, is typically used for projects in the early design or concept stages where detailed data is unavailable.
Answer : A. Class 5 - order of magnitude estimate with +50% / -30% accuracy
