Your project to obtain charitable donations is now 47 days into a planned 57-day

Question

Your project to obtain charitable donations is now 47 days into a planned 57-day project. The project is divided into 3 activities. The first activity is designed to solicit individual donations. It is scheduled to run the first 42 days of the project and to bring in $24,700. Even though we are 47 days into the project, we still see that we have only 90% of this activity complete. The second activity relates to company donations and is scheduled to run for 47 days starting on day 5 and extending through day 52. We estimate that even though we should have (42/47) 89% of this activity complete, it is actually only 51% complete. This part o the roject was scheduled to bringin 14 in donations. The fi acti matching und This activity is scheduled to run the last 10 days of the project and has not started. It is scheduled to bring in an additional $49,400. So far $179,000 has actually been brought in on the project. 9 Calculate the schedule variance, schedule performance index, cost variance and cost (actually value in this case) performance index. (Negative values should be indicated by a minus sign. Do not round intermediate calculations. Round your dollar amounts to the nearest whole number. Round your "performance index" values to 3 decimal places.) Schedule variance Schedule performance index Cost variance Cost performance index

Explanation / Answer

Formula Used

Schedule variance= Earned Value-Planned value.

Activity1

Expected value = $24,700, Expected completion (%) = 100%, Actual % complete = 90%

BCWS= 100% of $24,700 = 24,600

BCWP= 90 % of 24,700 = 22,230

2460

Activity 2

Expected value = $149,700, expected completion% = 89 %, actual complete % = 51%

BCWS = 89% of $149,700 = 133233

BCWP = 51% of $149,700 = 76347

Activity 3

Expected value = $49,400, expected completion% = 0%, actual complete % = 0%

BCWS = 0% of $49,400 = 0

BCWP = 0% of $49,400 = 0

Total BCWS = 24,700 +133233 +0 = 157933

BCWP= 22,230 + 76347+0 = 98577

Hence, Scheduled Variance =98577- 157933 = - 59356

Scheduled Performance Index =98577/157933 = 0.624

Cost variance = 98577- 179,000 = - 80423

Cost performance index = 98577/179,000 = 0.550

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