Question

1.) A project manager is analyzing progress on a project to make a 10-minute documentary. It's the end of week two on this three week project. The actual cost is $72,000. They have 7 minutes of usable film. The budgeted total cost is $100,000. Determine PV,EV,CV,CPI,SV, ans SPI

a. First, map each description to an EVA category. Then, fill in the table.

Week	AC	PV	EV	CV	CPI	SV	SPI
2	72,000

b. What do the SPI and CPI values mean in this example? Explain in "plain English."

c. Could a project or task be where we expect in terms of cost, but behind on schedule? (Hint: see formulas)

2.) You are managing a project to film 5 promotional videos to be posted on YouTube, to promote one of the UI fraternities. Your project jas a BAC of $12,000. One of the tasks on the the critical path is to arrange fililming locations. The task has a BAC of $2,000. You have confirmed 4 of the 10 locations. The task is scheduled to take 2 weeks(10 days), and it is the end of day 2. You have spent $300 so far.

a. Identify the task's BAC, AC, EV and PV

b. Calculate SPI and CPI

c. What do the results tell you about the task's schedule and budget?

3.) You are manging a construction project with a BAC of $1,400,000. You have built 4 of the 5 houses, and you have just finished week 6 on the project, out of the scheduled 11 weeks. Your actual cost has been $800,000 so far. Determine the estimate to complete (ETC) the project, and briefly explain what the result means.

4.) You are managing a task on the critical path which has a BAC of $500,000. The task is 80 percent complete. The team has completed 10 weeks on the task, and it was scheduled to take 10 weeks. You have spent $400,000 on the task so far. Calculate the cost performance index (CPI) and schedule performance index (SPI). Briefly explain what the reults mean.

Answer 1

1.

a. First, map each description to an EVA category. Then, fill in the table.
	PC	Percentage complete	70%	(7/10)
	TC	Total budgeted cost	100000
	EC	Expected completion	66.7%	(2/3)
			Earned value= (7/10)
		PC*TC	EC*TC	EV-AC	EV/AC	EV-PV	EV/PV
Week	AC	PV	EV	CV	CPI	SV	SPI
2	72,000	70000	66666.6667	-5,333	0.92592593	-3333.33333	0.95238095
		Planned or budgeted
b. What do the SPI and CPI values mean in this example? Explain in "plain English."
As CPI is less than one the actual costs have been more than the work completed and SPI suggests the project is behind the planned progress.
c. Could a project or task be where we expect in terms of cost, but behind on schedule? (Hint: see formulas)
As the SV is negative the project is behind schedule.