project management

Earned Value Analysis

Earned-value analysis. A project budget calls for the following expenditures:

Task	Date	Budgeted Amount
Build Forms	April 1	$10,000
Pour Foundation	April 1 May 1	$50,000 $100,000
Frame Walls	May 1 June 1	$30,000 $30,000
Remaining Tasks	July 1 and beyond	$500,000

    

Define each term in your own words, calculate these values for the above project, and show your work:

1. Budgeted cost baseline (make a graph illustrating this one)

2. Budget at completion (BAC)

3. Planned value (PV) as of May 1

4. Earned value (EV) as of May 1 if the foundation work is only two-thirds complete. Everything else is on schedule.

5. SV as of May 1.

6. Actual cost as of May 1 is $160,000. Calculate the cost variance (CV) as of May 1.

7. Schedule performance index (SPI)

8. Cost performance index (CPI)

9. Estimate to complete (ETC), assuming that the previous cost variances will not affect future costs

10. Estimate at completion (EAC)

Select the following links and watch your videos for the week.

What is Project Scheduling? - Project Management Training [03:27]  

Scheduling Resources on Multiple Projects [02:37]

Resource Leveling versus Resource Smoothing - Key Project Management Concepts from the PMBOK [04:06]

Resource Planning for Projects: A Guide - Project Management Training [05:03]

How to Create a Project Budget - Project Management Training [03:05]

The Basics of Project Cost Management - Project Management Training [05:39]

https://open.umn.edu/opentextbooks/textbooks/project-management chapters 10,11, and 12