Project Milestone Review

Purpose of Review

Reviewers

Plans

Make sure we have the plans for bids

and permits
Make sure suppliers can meet our
timelines.

Michelle &
Bryne
Michelle

Get bids from suppliers for windows, cabinets

appliances, plumbing fixtures, lighting fixtures,
flooring, doors
Permits & Plans

Make sure we have the permits to do

the remodel and garage
Make downpayments on supplies - custom windows, Make sure we can get supplies when
cabinets
we need them
Phase I and 2 Demolition
Make sure the house is ready for the
remodel
Reroof the house
Make sure the roof is done

Michelle

Frame walls, install windows and french doors

Make sure the framing is done for the

remodel
Make sure we have the HVAC done
before we frame or rock for bedroom
Make sure we have the electrical power
we need for the house
Make sure house is ready for painting

Mark

Make sure house looks good on the

outside
Bring electrical system up to code

Bryne

Put in new septic tank

Rough in Plumbing

Make sure it works

Make sure we have the plumbing for
fixtures

Bryne
Bryne

Insulation

Bryne

Install lighting fixtures

Install cabinets

Make sure we have pipes wire wrapped

and walls insulated
Make sure we have the walls ready for
painting
Make sure we have walls ready for
flooring
Make sure lighting works
Make sure appliances fit with cabinets

Install appliances
Install counter tops
Install plumbing fixtures

Make sure all appliances work

Make sure it all fits
Make sure fixtures work

Mark
Mark
Mark

Do finish work with trim, built in book shelves.

Make sure the built ins are done to

code
Make sure we get the flooring we
specd out.
Make sure we are ready to move our
stuff in

Mark

HVAC basement bedroom

Upgrade Electrical Service
Side new sections of house
Paint exterior of house
Rough in Electrical with smart wiring and fixtures

Sheet rock
Interior Paint

Install flooring
Final inspection

Michelle
Mark
Mark

Mark
Bryne
Bryne

Bryne

Bryne
Bryne

Mark

Mark
Michelle &
Bryne

Total Cost

Approval to Date of Review Estimated

Move
Percent
Forward
Complete
Michelle &
Bryne
Michelle

External Confidence
material Rating
Costs
Estimate

15/02/2007

2%

01/03/2007

5%

200

Low Cost Avg. Cost High

Cost

0.9

180

200

220

10000

0.5

5000

10000

15000

5000

0.5

2500

5000

7500

1000
5000

0.5
0.75

500
3750

1000
5000

1500
6250

20000

0.75

15000

20000

25000

1500

0.5

750

1500

2250

1000

0.5

500

1000

1500

1000

0.5

500

1000

1500

10000
1000

0.5
0.5

5000
500

10000
1000

15000
1500

1000

0.5

500

1000

1500

1000

0.5

500

1000

1500

1000

0.5

500

1000

1500

2000

0.5

1000

2000

3000

1000
3000

0.5
0.5

500
1500

1000
3000

1500
4500

10000
15000
6000
12000

0.5
0.5
0.5
0.5

5000
7500
3000
6000

10000
15000
6000
12000

15000
22500
9000
18000

1000

0.5

500

1000

1500

4000

0.5

2000

4000

6000

500

0.5

250

500

750

0
Michelle

15/03/2007

7%

Michelle

16/03/2007

10%

Michelle

01/04/2007

12%

Michelle

01/04/2007

15%

Bryne

07/04/2007

25%

Bryne

07/04/2007

26%

Bryne

07/04/2007

28%

Bryne

07/04/2006

32%

Bryne

15/04/2006

35%

Bryne

15/04/2007

40%

Bryne
Bryne

15/04/2007
01/05/2007

42%
45%

Bryne

05/05/2007

47%

bryne

19/05/2007

55%

Bryne

21/05/2007

65%

24/05/2007

68%
75%

Mark
Mark
Mark
Mark

26/05/2007
26/05/2007
30/05/2007

77%
79%
85%

Mark

15/06/2007

95%

Mark

01/07/2007

99%

Michelle &
Bryne

01/07/2007

100%

113200

62930

113200

163470

Internal
External

113200
83270

62930
51055

113200
83270

163470
115665

Total

196470

113985

196470

279135

External Confidence Low Cost Avg. Cost High

Labor
Rating
Cost
Cost
Estimate
7000

0.9

6300

7000

7700

4160
12000

0.75
0.75

750
3750

4160
12000

5200
15000

9600

0.75

15000

9600

12000

200

0.5

100

200

300

2000

0.5

1000

2000

3000

2000

0.5

1000

2000

3000

10000
2000

0.5
0.5

5000
1000

10000
2000

15000
3000

2000

0.5

1000

2000

3000

2000

0.5

1000

2000

3000

2000

0.5

1000

2000

3000

2560

0.5

1280

2560

3840

5000
750

0.5
0.5

2500
375

5000
750

7500
1125

1000
1000
1000
1000

0.5
0.5
0.5
0.5

500
500
500
500

1000
1000
1000
1000

1500
1500
1500
1500

10000

0.5

5000

10000

15000

6000

0.5

3000

6000

9000

0.5

83270

51055

83270

115665

Project
Milestone
Review

Purpose Reviewers
of Review

Approval Date of
to Move Review
Forward

Plans

Make sure Michelle &

we have Bryne
the plans
for bids
and
permits
Make sure Michelle
suppliers
can meet
our
timelines.

Michelle & ########

Bryne

2%

Michelle

5%

Get bids from

suppliers for
windows,
cabinets
appliances,
plumbing fixtures,
lighting fixtures,
flooring, doors

Estimated
Percent
Complete

External Confidence
material Rating
Costs
Estimate

200
########

0.9

0
Feb
Permits & Plans

Make sure Michelle

we have
the
permits to
do the
remodel
and
garage
Make
Make sure Michelle
downpayments
we can
on supplies get
custom windows, supplies
cabinets
when we
need
them
Phase I and 2
Make sure Mark
Demolition
the house
is ready
for the
remodel

Michelle

########

7%

Michelle

########

10%

Michelle

########

12%

Reroof the house Make sure Mark

the roof is
done

Michelle

########

15%

########

March
25%

Frame walls,
Make sure Mark
install windows
the
and french doors framing is
done for
the
remodel

Bryne

200

10000

0.5

5000

0.5

1000

0.5

5000
21000

0.75

20000

0.75

HVAC basement Make sure Mark

bedroom
we have
the HVAC
done
before we
frame or
rock for
bedroom

Bryne

########

26%

Upgrade
Make sure Bryne
Electrical Service we have
the
electrical
power we
need for
the house
Side new
Make sure Bryne
sections of house house is
ready for
painting

Bryne

########

28%

Bryne

########

32%

Paint exterior of
house

Make sure Bryne

house
looks
good on
the
outside

Bryne

########

35%

Rough in
Electrical with
smart wiring and
fixtures

Bring
Bryne
electrical
system up
to code

Bryne

########

40%

Put in new septic Make sure Bryne

tank
it works

Bryne

########

42%

Rough in
Plumbing

Bryne

########

45%

Insulation

Make sure Bryne

we have
the
plumbing
for fixtures

Make sure Bryne

we have
pipes wire
wrapped
and walls
insulated

Bryne

########

1500

0.5

1000

0.5

1000

0.5

10000

0.5

1000

0.5

1000

0.5

1000
36500

0.5

1000

0.5

47%

Sheet rock

Make sure Bryne

we have
the walls
ready for
painting

bryne

########

55%

Interior Paint

Make sure Bryne

we have
walls
ready for
flooring

Bryne

########

65%

Install lighting
fixtures

Make sure
lighting
works

Install cabinets

Make sure Mark

appliance
s fit with
cabinets

Mark

########

75%

Install appliances Make sure Mark

all
appliance
s work
Install counter
Make sure Mark
tops
it all fits

Mark

########

77%

Mark

########

79%

Install plumbing
fixtures

Mark

########

85%

Do finish work
with trim, built in
book shelves.

Install flooring

Final inspection

2000

0.5

1000

0.5

3000

0.5

10000

0.5

15000

0.5

6000

0.5

12000
50000

0.5

1000

0.5

4000

0.5

500
5500
220900

0.5

68%

Make sure Mark

fixtures
work

Make sure Mark

the built
ins are
done to
code
Make sure Mark
we get the
flooring
we specd
out.

Mark

########

95%

Mark

########

99%

Make sure Michelle &

we are
Bryne
ready to
move our
stuff in

Michelle & ########

Bryne

100%

Total Cost

Internal
External

220900
136230

Total

357130

Low Cost Avg. Cost High

Cost

External Confiden Low Cost Avg. Cost High

Labor
ce Rating
Cost
Cost
Estimate

180

200

220

7000

180

200

220

7000

5000

10000

15000

2500

5000

7500

500

1000

1500

4160

3750
11750

5000
21000

6250
30250

15000

20000

25000

0.9

Total
Cost

6300

7000

7700

6300

7000

7700

7200

0.75

750

4160

5200

12000
16160

0.75

3750
4500

12000
16160

15000
20200

9600

0.75

15000

9600

12000

37160

750

1500

2250

200

0.5

100

200

300

500

1000

1500

2000

0.5

1000

2000

3000

500

1000

1500

2000

0.5

1000

2000

3000

5000

10000

15000

10000

0.5

5000

10000

15000

500

1000

1500

2000

0.5

1000

2000

3000

500

1000

1500

2000

0.5

1000

2000

3000

500
23250

1000
36500

1500
49750

2000
29800

0.5

1000
25100

2000
29800

3000
42300

500

1000

1500

2000

0.5

1000

2000

3000

66300

1000

2000

3000

2560

0.5

1280

2560

3840

500

1000

1500

5000

0.5

2500

5000

7500

1500

3000

4500

750

0.5

375

750

1125

5000

10000

15000

1000

0.5

500

1000

1500

7500

15000

22500

1000

0.5

500

1000

1500

3000

6000

9000

1000

0.5

500

1000

1500

6000
25000

12000
50000

18000
75000

1000

0.5

500
7155

1000
14310

1500
21465

500

1000

1500

10000

0.5

5000

10000

15000

2000

4000

6000

6000

0.5

3000

6000

9000

250
2750
123110

500
5500
220900

750
8250
318690

0.5

0
8000
94110

0
16000
150540

0
24000
207330

123110
94110

220900
150540

318690
207330

136230

50000

5500

217220

371440

526020

Low

Avg

High

6480

7200

7920

6480

7200

7920

16250

37160

50450

48350

66300

92050

32155

64310

96465

10750

21500

32250

Data input

Interim Deliverable
Example

Calculated

Data input

Calculated

Data Input

Data Input

Work
Min Time
Cost
Cost
Planned to
Scheduled
Budgeted
Budgeted
Date
Percent
(hours)
Labor
(equipment) BAC
(hours)
complete
6.5
292.5
$937.50
$1,230.00
3.25
80.00%

Plans
Demolition
Crawl Space Door
Pest Control

60

Totals

60

9000
0
0

$450.00

9000

450

$9,450.00
$2,000.00
$800.00
500

45

50.00%
100.00%
100.00%
100.00%

12750

45

100

Note
Planned for This Month
Planned for Next Month
Planned but didn't think we'd need it for this project
The architect did the work but billed us in March for the work in February. Since we are doing a
cash based accounting, the bill for that work will show up in March. The bill we paid for this
work is for 50% of the work.
This shows we are pretty close to our budget for feb, and we are a little behind schedule - but
mostly that is because of the way we are doing the accounting for the project with the architect.
The actual budget for Feb was $7200. We spent $7350 for the project - we had 2800 of
expenses that were scheduled from March but moved to Feb. And we had a $500k pest
removal fee we didn't anticipate.For March, we have to add in another 5k for Plans. It is going in
the permit milestone. It changes cash flow estimate for March from 31.9k to 35.9k. However
we still do not know the permit fee from the county so it is likely going to be less.

Data Input
Actual
Time
Spent on
Tasks
(hours)
5

Data Input
data input

Data Input Calculation

Calculation

Calculation CalculationCalculation

Actual Remaining
Actual Cost Cost
Equip.
Labor
labor +
Earned
Planned
Equip. costs
Rate
equipment Value
Value
CPI
SPI
750
0
45
$975.00
$984.00
$896.25
1.01
1.10

24

450
2000
800
500

0
0
0

150

$4,050.00
$2,000.00
$800.00
$500.00

$4,725.00
$2,000.00
$800.00
$500.00

$7,200.00
$2,000.00
$800.00
$500.00

1.17
1.00
1.00
1.00

0.66
1.00
1.00
1.00

24

3750

150

7350

8025

10500

1.09

0.76

Calculation

Calculation

Estimated
cost at
project
Completion
$1,218.75

Estimated
Time for
Completion Number of
(days)
Resources
0.74

$11,677.57

9.81

Input

Input

Calculation

Business
Days
Worked

Business
Days to
Completion

Cash Flow Summary

Low
Average High
PERT
February
6480
7200
7920
7,200
March
16250
37160
50450
35,890
April
48350
66300
92050
67,600
May
32155
64310
96465
64,310
June
10750
21500
32250
21,500
113985
196470
279135 196,500