November 22, 2019 - Community of Practice

Synopsis: This topic discusses two different methods of calculating Estimate at completion adopted by two different software; seamless reporting of EAC is essential. Differences between software on how Estimate at Completion (EAC) is calculated at a project level can confuse and mislead project management professionals, especially if these differences result in extreme project performance indicator variances from one software to another. 
This presentation compares between two methods of two scheduling software packages (MS Project and Primavera P6) used to calculate EAC at a project level:
  1. Adding up EAC for all control accounts on a project, at their appropriate levels to generate the EAC of the project.
  2. Adding up Actual costs and Earned Value for all control accounts on a project at their appropriate levels, calculating the project’s Cost Performance Index (CPI), and using this CPI to calculate EAC.
The presentation also discusses different examples that will magnify the issue discussed. This presentation also outlines the accuracy of method 1 above, compared to method 2. The goal of this presentation is to create a first step of gaining consensus on how EAC is calculated at a project level.

 

Mostafa AbdelRazik
Presenter's Bio: Mostafa AbdelRazik
Mostafa is the founder of PMIS Inc., a project management professional (PMP) under the project management institute, an Earned Value Professional (EVP) and Planning and Scheduling Professional (PSP) under Association for the Advancement of Cost Engineering (AACE) International. He graduated from Carleton University, Civil Engineering in 2012, with high distinction and bagged a Masters (MEng) degree in Building Engineering (Construction Management) from Concordia University, Montreal in May 2014.

Mostafa is a project management and project controls specialist with over 5 years of experience in infrastructure and industrial construction domains and has worked on mega projects with budgets over 1 billion dollars. His specialization is project controls focusing on planning, scheduling and cost control; Mostafa has helped teams successfully deliver projects on time and within budget.

Mostafa is an active speaker with AACE International and also teaches various project management courses at NAIT.

Event Properties

Event Date 11-22-2019 12:00 pm
Event End Date 11-22-2019 1:30 pm
Registration Start Date 10-20-2019
Cut off date 11-22-2019
Individual Price Free
Location Western Room - Concourse Level

Speakers

Mostafa AbdelRazik

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