Earned Value Management Week 4 PDF

Preview

Summary

Essay Assignment ...

Description

Earned Value Management

Laura Applewhite Department of Program Management, Park University PM691 Time and Cost Management Dr. Santos-Romeu 13 November 2020

Homework Questions – Earned Value Measurement Answer the questions below. Show work, as needed. 1. There is a project with the following calculated costs: Actual costs = 50,000 (AC) Earned value = 50,000 (EV) Planned value = 48,000 (PV)

a) b) c) d) e)

Calculate the following: What is the schedule variance? 50,000 – 48,000 = 2,000 i) What does this infer? Positive or good because >2 What is the cost variance? 50,000 – 50,000 = 0 i) What does this infer? Positive or Good because > 0 Calculate the SPI i) What does this infer? 50,000/48,000 = 1.04 (Positive or good because >1) Calculate the CPI i) What does this infer? 50,000/50,000 = 0 (Positive or good because >0) What is occurring overall on this project? At this point our SV is Positive, and according to PMBOK guide if the SPI is > 1, our project will be considered ahead of the schedule. At the halfway point and costs are calculated at 50%.

2. There is a project with the following calculated costs: Actual costs = 43,000 (AC) Earned value = 28,000 (EV) Planned value = 32,000 (PV) Calculate the following: a) What is the schedule variance? 28,000 – 32,000 = -4,000 i. What does this infer? (Negative or Bad because...