Question

A project to build a new bridge seems to be going very well since the project...

A project to build a new bridge seems to be going very well since the project is well ahead of schedule and costs seem to be running very low. A major milestone has been reached where the first two activities have been totally completed and the third activity is 65% complete. The planners were only expecting to be 55% through the third activity at this time. The first activity involves prepping the site for the bridge. It was expected that this would cost $1,424,000 and it was done for only $1,304,000. The second activity was the pouring of concrete for the bridge. This was expected to cost $10,504,000 but was actually done for $9,004,000. The third and final activity is the actual construction of the bridge superstructure. This was expected to cost a total of $8,504,000. To date they have spent $5,004,000 on the superstructure.

Calculate the schedule variance, schedule performance index, and cost performance index for the project to date. (Round your "performance index" values to 3 decimal places.)

Homework Answers

Answer #1

Actual Cost = 1,304,000 + 9,004,000 + 5,004,000 = $15,312,000

Planned Value = 1,424,000 + 10,504,000 + 55% of 8,504,000 = $16,605,200

Earned Value = 1,424,000 + 10,504,000 + 65% of 8,504,000 = $17,455,600

Schedule Variance =Earned Value – Planned Value

= 17,455,600 - 16,605,200

= $850,400

Schedule Performance Index = (Earned Value) / (Planned Value) = 17,455,600/16,605,200 = 1.051

Cost Performance Index = (Earned Value) / (Actual Cost) = 17,455,600/15,312,000 = 1.140

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