PM.340.WC2/PM.340.HSF2 Introduction to…
Description
Problem Set #4: Earned Value
Give your best attempt at solving the attached problems based on the formulas below
Earned Value formulas.
SV = EV – PV; SPI = EV/PV
CV = EV – AC; CPI = EV/AC
- CR = SPI x CPI
Prob. 1. Find the schedule variance(SV) and cost variance (CV) for a project underway that has an actual cost (AC) of $540,000, a scheduled cost (PV) of $523,000, and an earned value (EV) of $535,000.
- Prob. 2. A project in progress had an actual cost of $34,000, a planned cost of $42,000, and a value completed of $39,000. Find the spending (cost) and schedule variances and the CPI and the SPI. What is the Critical Ratio (CPI times SPI)?
Prob. 3. A construction project underway exhibits an actual cost of $78,000, and a scheduled cost of $84,000. The foreman estimates a value completed of $81,000. What are the spending and schedule variances? What is the critical ratio?
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