Hi, I just need help with completing the first table where Planned Value (PV) an

Question

Hi, I just need help with completing the first table where Planned Value (PV) and Earned Value (EV) need to be calculated. Please see table on page 5. I have also included the addional infomation necessary to complete this below.

Introduction All of you have had at least an introduction to earned value management in the project management fundamentals course. Many of you may have had the opportunity to use earned value management in your professional careers. In practice, most EVM analysis results are generated by scheduling software or other applications. As a project manager, you must have a good handle on the concepts and be able to verify the accuracy of EVM analysis results In this assignment, you will have an opportunity to brush up and expand upon your EVM knowledge and skills by applying EVM concepts to a practical problem. THIS ASSIGNMENT REQUIRES A MANUAL ANALYSIS DO NOT USE MICROSOFT PROJECT Problem Background Your project consists of seven activities with planned start and finish dates shown in the chart below Activity 7 Activity 6 Activity 5 Activity 4 Activity 3 Activity 2 Activity 1 13 15 17 19 21 23 Week

Explanation / Answer

The only information which is not directly mentioned in the question is the planned value for each milestone under activity 3 for each week. ie milestones under activity 3 would have been completed by what % in each week.

First step therefore should be to calculate the milestones completion week wise for activity 3

We know how much needs to be spend on achieving a milestone (mentioned as % of values)

here each milestone is taken as the % of total value activity 3

Next step is to see the expenditure /week for activity 3, As activity 3 starts from the start of week 3, i have mentioned week3

Now, for milestone 1 we need to spend 5000 but the planeed expenditure for week 1 is only 3000. so 3000/5000 ie 60% of milestone 1 will be achieved in week 3. for week 4, 2000 for milestone 1 needs to be spend. which makes us achieve milestone 1. after spending 2000 from 3000 remaining amount 1000 will be spend on milestone 2. milestone planned expenditure is 10000, so 1000/10000 means 10% work is achieved in milestone 2. similarly planned % completion week wise can be calculated for other milestones.

This means by end of 8th week 31% of milestone 5 and 100% of other milestones should have been achieved.

for activity 4, milestone 1 planned activity begins after end of 8th week, so planned % completion is 0

rest all has been mentioned in the excel below

with formulas on excel for understanding

Activity 3 cumulative 50000 milestone 1 10% 5000 milestone 2 20% 10000 milestone 3 15% 7500 milestone 4 20% 10000 milestone 5 35% 17500

Related Questions

Navigate

• Browse (All)
• Browse H
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.