Homework chapter 7
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The document calculates performance metrics for a project with a budget of $120,000, earned value of $20,000, actual cost of $25,000, and planned value of $23,000. It finds the project is over budget by $5,000 and behind schedule by $3,000. With a cost performance index of 80% and schedule performance index of 87%, it estimates the project will finish $30,000 over budget in 1.149 years, 0.149 years later than planned.
Homework chapter 7
- 1. By: Daniel Absalon, Miles Nowak, Andrew Boyce, Omar Alwehaibi, & Andrew Boston
- 2. Given: PV = $23,000 EV = $20,000 AC = $25,000 BAC = $120,000 Calculated: Cost Variance(CV) = $-5,000 Schedule Variance(SV) = $-3,000 Cost Performance Index(CPI) = 80% Schedule Performance Index(SPI) = 87%
- 3. Because the CPI is 80% that means the project is: currently behind schedule currently over-budget
- 4. CPI = 80% BAC = $120,000 Estimate At Completion(EAC) = BAC/CPI EAC = 120,000/.80 = 150,000 The project is over-budget $30,000, therefore the project is performing worse then planned.
- 5. Estimated Time to Complete = Original Time Estimate/SPI Estimated Time = 1(year)/.87 = 1.149 Estimated Time to Complete is 1.149 years. .149 years more then expected
- 6. Earned Value Chart 0 20 40 60 80 100 120 140 160 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Month $(InGs) Estimate at Completion (EAC) Budget At Completion (BAC) Actual Cost Earned Value Planned Value 1.E