Question

Ralph wants to build a new two (2) car garage. The contractor Ralph hired provided the following schedule and cost estimate. What is the budget at completion (BAC) for Ralph’s garage? At the end of week 1, the contractor completed 80% of the footing, framing, and siding. He spent 3,000 on concrete, lumber and vinyl siding. He also paid 1,500 in wages to laborers to complete the footing, framing, and siding. what is the earned value (EV) for Task A in the garage project, the planned value, the actual cost, the cost variance, the schedule variance? At the end of week 2, the remaining 20% of the footing, framing, and siding has been completed and all of the roofing. An additional $5,500 was spent on labor and material. What is the earned value (EV) of the project at the end of week 2? What is the cost performance index at the end of week 2? What is the schedule performance index at the end of week 2?

Task ID	Task	Duration (Weeks)	Predecessor	Budgeted Cost
A	Foundation, Framing & Siding	1	Start	$5,000
B	Roofing	1	A	$5,000
C	Plumbing & Electrical	1	B	$2,000
D	Drywall & Painting	1	C	$3,000
E	Driveway	1	D	$5,000

Answer 1

Task ID	Task	Duration (Weeks)	Predecessor	Budgeted Cost
A	Foundation, Framing & Siding	1	Start	$5,000
B	Roofing	1	A	$5,000
C	Plumbing & Electrical	1	B	$2,000
D	Drywall & Painting	1	C	$3,000
E	Driveway	1	D	$5,000
	Total budgeted Cost	$20,000
	After Week 1
	Planned value	$5,000
	Earned value (80% of work)	$4,000
	Actual Cost	$4,500
	Cost variance = (EV - AC)	($500)
	Schedule Variance (EV-PV)	($1,000)
	CPI (EV/AC)	0.88889
	After week 2
	Planned Value	$10,000
	EV	$10,000
	Actual costs	$10,000
	Cost variance	$0
	Schedule Variance	$0
	CPI	1
	SPI	1