Earned-value analysis. A project budget calls for the following expenditures:TaskDateBudgeted AmountBuild formsApril 1$10,000Pour foundationApril 1$50,000May 1$100,000Frame wallsMay 1$30,000June 1$30,000Remaining tasksJuly 1 and beyond$500,000
Define each term in your own words, calculate these values for the above project, and show your work:
- Budgeted cost baseline (make a graph illustrating this one)
- Budget at completion (BAC)
- Planned value (PV) as of May 1
- Earned value (EV) as of May 1 if the foundation work is only two-thirds complete. Everything else is on schedule.
- SV as of May 1.
- Actual cost as of May 1 is $160,000. Calculate the cost variance (CV) as of May 1.
- Schedule performance index (SPI)
- Cost performance index (CPI)
- Estimate to complete (ETC), assuming that the previous cost variances will not affect future costs
- Estimate at completion (EAC)
Title: Project Management
Authors: Adrienne Watt
Publication Date: August 14, 2014
Edition: 2nd Edition