MEEN 4370 / ENTC 4350 Capstone Project Name: Sept. 5, 2018 Earned Value Analysis
ID: 396862 • Letter: M
Question
MEEN 4370 / ENTC 4350 Capstone Project Name: Sept. 5, 2018 Earned Value Analysis We would like to produce a weekly project update to the Chief Technology Officer Here is what our example project might look like after project planning ID 100 200 Name Set up Database Build Application End Budget Mar. 1 Mar. 10 $10,000 Mar. 7 Mar. 20 $15,000 TOTAL $25,000 Start At this point we also need to make a few assumptions. Let's assume it's March 3 today and we are doing the analysis up to the current point (today. The planned percent complete is 30% based on the start and end dates. Let's say that after discussions with the applicable project team members and inspection of the progress, we determine that the first task is 20% complete and the second task is 10% complete. After reviewing our time and expense software and compiling any miscellaneous expenses, we determine that the actual cost of the first task is $4,500 and the second task is $2,000 1. Schedule Variance (SV) 2. Schedule Performance Index (SPI) 3. Cost Variance (CV) 4. Cost Performance Index (CPI)Explanation / Answer
Schedule variance = Earned value - Planned value
Planned value = 30% * 10000 = $3000
Earned value = 20%*10000 (Task1) +10%*15000 (task2) = $3500
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