The baseline plan in Table 1 shows that 6 work units (WBS A-F) would be completed as shown. You fill in the PV $ (Planned Value) and Earned Value $ lines based on this data. Table 1- Baseline Plan Work Units WBS Budget $ % Scheduled PV $ % Completed A 100 100 Planned Value (S) Earned Value ($) B 150 100 100 Table 2- Schedule Variance Work Units Earned Value ($) Actual Cost ($) с 100 100 100 100 40 100 0 I As work is performed, it is "earned" on the same basis as it was planned, in dollars or other quantifiable units such as labor hours. Planned value compared with earned value measures the dollar volume of work planned vs. the equivalent dollar volume of work accomplished. Any difference is called a schedule variance. In contrast to what was planned, Table 2 shows that work in unit D was not completed and work unit F was never started. D 250 100 A B C D E F Table 3- Cost Variance Work Units A B C 90 220 80 b. Calculate the cost variance (S) c. Are we under or over budget? (Prove your answer) d. What is the Project Cost-to-date? e. What is the $ of work remaining? f. What is the CPI? E 200 100 a. Calculate the schedule variance of the work planned for this period that was not done ($) Earned value compared with the actual cost incurred (from the contractors accounting system) for the work performed provides an objective measure of planned and actual cost. Any difference is called the cost variance. A negative variance means more money was spent for the work accomplished than was planned. Table 3 shows the data for Cost Variance. DE F 300 220 0 Total g. What is the likely cost to complete the project? h. What is likely project cost at completion? F 300 67 Total 1100 Total 910
The baseline plan in Table 1 shows that 6 work units (WBS A-F) would be completed as shown. You fill in the PV $ (Planned Value) and Earned Value $ lines based on this data. Table 1- Baseline Plan Work Units WBS Budget $ % Scheduled PV $ % Completed A 100 100 Planned Value (S) Earned Value ($) B 150 100 100 Table 2- Schedule Variance Work Units Earned Value ($) Actual Cost ($) с 100 100 100 100 40 100 0 I As work is performed, it is "earned" on the same basis as it was planned, in dollars or other quantifiable units such as labor hours. Planned value compared with earned value measures the dollar volume of work planned vs. the equivalent dollar volume of work accomplished. Any difference is called a schedule variance. In contrast to what was planned, Table 2 shows that work in unit D was not completed and work unit F was never started. D 250 100 A B C D E F Table 3- Cost Variance Work Units A B C 90 220 80 b. Calculate the cost variance (S) c. Are we under or over budget? (Prove your answer) d. What is the Project Cost-to-date? e. What is the $ of work remaining? f. What is the CPI? E 200 100 a. Calculate the schedule variance of the work planned for this period that was not done ($) Earned value compared with the actual cost incurred (from the contractors accounting system) for the work performed provides an objective measure of planned and actual cost. Any difference is called the cost variance. A negative variance means more money was spent for the work accomplished than was planned. Table 3 shows the data for Cost Variance. DE F 300 220 0 Total g. What is the likely cost to complete the project? h. What is likely project cost at completion? F 300 67 Total 1100 Total 910
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Transcribed Image Text:The baseline plan in Table 1 shows that 6 work units (WBS A-F) would be completed as shown.
You fill in the PV $ (Planned Value) and Earned Value $lines based on this data.
Table 1- Baseline Plan Work Units
WBS
Budget $
% Scheduled
PV $
% Completed
Planned Value (S)
Earned Value (S)
A
100
100
Table 2 - Schedule Variance Work Units
100
B
150
100
Earned Value (S)
Actual Cost ($)
100 100 40 100 0
1
As work is performed, it is "earned" on the same basis as it was planned, in dollars or other
quantifiable units such as labor hours. Planned value compared with earned value measures
the dollar volume of work planned vs. the equivalent dollar volume of work accomplished.
Any difference is called a schedule variance. In contrast to what was planned, Table 2 shows
that work in unit D was not completed and work unit F was never started.
с
100
100
Table 3 - Cost Variance Work Units
A B
C
90
D
250
100
A B C D E F Total
a. Calculate the schedule variance of the work planned for this period that was not
done ($)
Earned value compared with the actual cost incurred (from the contractors accounting system)
for the work performed provides an objective measure of planned and actual cost. Any
difference is called the cost variance. A negative variance means more money was spent for the
work accomplished than was planned. Table 3 shows the data for Cost Variance.
D E
E
200
100
220 80
b. Calculate the cost variance (S)
c. Are we under or over budget? (Prove your answer)
d. What is the Project Cost-to-date?
e. What is the $ of work remaining?
f. What is the CPI?
F
300 220 0
g. What is the likely cost to complete the project?
h. What is likely project cost at completion?
F
300
67
Total
1100
Total
910
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