# Earned Value Exercise. Su-Cheng Wu. MET AD 644: Project Risk, and Cost Management. Paul B. Cook, PhD PMP

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1 Earned Value Exercise 1 Running head: Earned Value Exercise Earned Value Exercise SuCheng Wu MET AD 644: Project Risk, and Cost Management Paul B. Cook, PhD PMP

2 Earned Value Exercise 2 Case 1: Background: You have a project that is scheduled to be completed in 10 days at a budgeted cost of 100,000. At the end of day 6 you do an analysis and you determine the job is 70% complete and you have spent 65,000. Assumptions: 1) The following Earned Value Analysis was performed under the assumption that the baseline plan has a purely linear distribution rate of a) daily planned value, b) daily planned % complete. 2) For the EAC, this report uses the EAC formula of EAC = BAC/CPI, which is one of the EAC formulas; assuming the current trend of the cost performance will be typical of the project going forward. (Anbari, 2003)

3 Earned Value Exercise 3 Questions and Answers: 1. What is the project s earned value? At Day 6 th, EV = 70, What is the project s budget at completion? BAC = 100, Is the project ahead, behind schedule or on time? Ahead of schedule. 4. Is the project expected to complete on budget, under or over budget? Under budget. 5. What is the project s SPI? At Day 6 th, SPI = What is the project s CPI? At Day 6 th, CPI = 1.08 See file: WuS_assign8_EVM_Calculator.xls EV Calculation Details: BAC 100, Day 6th Physical % Complete 70% Day PV Cum.PV AC (/Day) Cum. AC EV (/Day) Cum.EV CV SV CPI SPI TCPI , , , , , , , , , , , ,000.00

4 Earned Value Exercise 4 EAC 92, VAC 7, ETC 27, PCIC 70% PCIB 70% Case 2: Background: Consider the following table of activities: After 8 days of work, activity A has been completed on time. Activity C has 4 deliverables and 3 have been completed. Assuming each day s work costs 100, what is the Cost Variance, the Schedule Variance, the CPI and SPI? Activity Predecessor Duration (days) Start None None A Start 2 B A 2 C A 4 D B,C 2 E D 4 F C 4 G F 3 H E,G 1 End H None 1. Draw the network diagram 2. Complete the forward and backward passes. 3. What activities are on the Critical Path? Please Mark in Red. 4. Which activities have total slack? Which activities have free slack? (Calculate Slack Allowance.)

5 Earned Value Exercise 5 Answer: 1, 2, 3, 4: Assumption: 8 days of work had passed, only activity A has been completed. Activity B, is assumed to be started right after Activity A s completion, but not 1 % is completed. Activity F could not have been started since Activity C only has 3 out of its 4 deliverables completed. Activity D could not have been started since Activity C is not completed. Table below shows what had been started and highlighted cell shows the earned or completed deliverables. Activity Started/ Day Earn Value 1 A Earned 2 A Earned

6 Earned Value Exercise 6 3 B C Earned 4 B C Earned 5 B C Earned 6 B C 7 B C 8 B C Earn Value Analysis: The table below shows on day 8th, with the baseline schedule following the Network Diagram above (Appendix E), the Cost Variance is 900, Schedule Variance is 700, CPI is 0.36 and SPI is Day PV Cum.PV AC (/Day) Cum. AC EV (/Day) Cum.EV CV SV CPI SPI , , , , , Reference Anbari, F. (2003). Earned Value Project Management Method and Extensions. Project Management Journal; Dec 2003; 34, 4; ABI/INFORM Complete P.12 Earned Value Examples:

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