Earned Value & Forecasting Essay Example | Topics and Well Written Essays - 750 words

Earned Value & Forecasting - Essay ExampleThe budgeted personify of survive performed at closedown of period 8 comes out to be $868,000. The same is shown in Table 1. constitute Variance (CV) can be calculated as the difference betwixt budgeted cost and positive cost of work performed which is check to $(868,000-1,005,000) i.e. - $137,000. A negative cost variance here implies that the project is over-budget by the oddment of period 8. The Cost Performance indication (CPI) is given by the ratio of budgeted cost of work performed to the actual cost of work performed i.e. (868,000/1,005,000) which is equal to .86. As the Cost Performance Index is less than 1, it again implies that the project is over-budget. Schedule Variance (SV) can be found out as the difference between budgeted cost of work performed and the budgeted cost of work inscriptiond trough the kibosh of period 8 which is equal to $(868,000-955,000) i.e. - $87000. A negative schedule variance here implies that the project is behind schedule by the end of period 8. The Schedule Performance Index (SPI) is given by the ratio of budgeted cost of work performed to the budgeted cost of work scheduled i.e. (868,000/955,000) which is equal to .91. As the Schedule Performance Index is less than 1, it gain implies that the project is behind schedule. ... 500000 1.3.2 60000 80 48000 1.4.1 120000 0 0 1.4.2 40000 50 0 1.4.3 75000 100 75000 1.5.2 15000 20 0 1.5.3 30000 0 0 1.6.1 45000 20 0 1.6.2 60000 50 0 1.6.3 30000 0 0 1.6.4 25000 0 0 Total 124500 (BAC) 868000 (BCWP/EV) The planned percentage of work unblemished can be calculated by dividing the planned work completed (in terms of enumerate of periods) by the append work (in terms of number of periods). The total work periods can be calculated by adding the planned durations of each activity. This comes out as 26 periods. The planned work periods can be calculated by multiplying the planned percent of work completed for each activity by its plann ed duration. This is equal to 15. Hence, the planned percent of work completed is equal to 15/26 i.e. 57.7%. Similarly, the actual percent of work completed is computed as the ratio of actual work completed (in terms of number of periods) to the total work (in terms of number of periods). The actual work periods are calculated as 15.2 in the same fashion as for planned work periods. The actual percent of work completed, therefore, comes out as 15.2/26 i.e. 58.46%. The percent cost completed is simply defined as the ratio of actual cost incurred till end of period 8 to the total planned cost of the project i.e. (1,005,000/1,245,000) which comes out as 80.72% Table 2 Calculating percent task outcome Task Duration Actual Percentage of work completed at end of period 8 Actual work completed (in periods) at end of period 8 Planned percentage of work completed at end of period 8 Planned work completed (in periods) at end of period 8 1.2.1 3 100 3 100 3 1.2.2 1 100 1 100 1 1.2.3 2 100 2 1 00 2 1.3.1 3 100 3 100 3 1.3.2 2 80 1.6 100 2 1.4.1 3 0 0 66.66666667 2 1.4.2 1 50 0.5 0 0 1.4.3 3 100 3 66.66666667 2 1.5.2 1 20 0.2 0 0 1.5.3 2 0 0 0