EVM Worksheet For Trial Quiz Solution-AKS

PLANNED Costs Month 1 Month 2 Month 3 Month 4 Hardware Server $ 5,000.00 System Integration $ 5,000.00 $ 5,000.00 System Development $ 15,000.00 $ 15,000.00 $ 5,000.00 Total Costs/Month $ 10,000.00 $ 15,000.00 $ 15,000.00 $ 10,000.00 Planned Value $ 10,000.00 $ 25,000.00 $ 40,000.00 $ 50,000.00 ACTUAL Costs Month 1 Month 2 Month 3 Month 4 Hardware Server $ 7,500.00 System Integration $ 5,000.00 $ 5,000.00 System Development $ 5,000.00 $ 30,000.00 $ 5,000.00 Total Costs/Month $ 12,500.00 $ 5,000.00 $ 30,000.00 $ 10,000.00 Actual Costs $ 12,500.00 $ 17,500.00 $ 47,500.00 $ 57,500.00 Earned Value/Month 10000 5000 25000 10000 Earned Value 10000 15000 40000 50000 Cost Variance -$ 2,500.00 $ - Cumulative Cost Variance -$ 2,500.00 -$ 2,500.00 -$ 2,500.00 -$ 2,500.00 Schedule Variance $ - -$ 10,000.00 $ - $ - Cost Performance Index 0.80 0.86 0.84 0.87 Schedule Performance Index 1.00 0.60 1.00 1.00 Estimate at Completion $ 62,500.00 $ 58,333.33 $ 59,375.00 $ 57,500.00 Estimated to Complete $ 50,000.00 $ 40,833.33 $ 11,875.00 $ - Estimated Time To Complete 4.00 6.67 4.00 4.00 1 2 3 4 5 6 7 8 9 10 11 12 BAC: The sum of the budgeted costs per month ($10,000+$15,000+$15,000+$10,000) = $50,000. PV: Planned Value is cumulative costs per month ($10,000+$15,000)=$25000 AC at the end of month 3: The actual costs of the project by the end of of Month 3 is the sum of the monthly costs ($12500+$5000+$30000)=$47500 EV increase in Month 2: The original budget had $15000 of development work in Month 2. Due to the delay in the development team, they were only able to complete 1/3 or $5000 of the planned work. Cost Variance = Earned Value - Actual Costs: The server was planned to cost $5000 so it has an EV of $5000 but the actual cost was $7500 so the Cost Variance was $5000-$7500 which equals -$2500. Schedule Variance (SV) at the end of Month 2: Schedule Variance = Earned Value - Planned Value. At the end of Month 2, the project EV is $15000 but the PV was $25000 so the Schedule variance is -$10000. Cost Performance Index at the end of month 3 : = Earned Value / Actual Costs. At the end of Month 3, EV=$40,000 ($10000+$5000+$25000) and AC=$47500 ($12500+$5000+$30000). That give a CPI of 0.84. Schedule Performance Index at the end of month 2: Earned Value / Planned Value. At the end of Month 2, EV=$15,000 ($10000+$5000) and PV=$25000 ($10000+$25000). That gives an SPI of 0.60. Estimate At Completion up to the end of month 2: Budget at Completion (BAC) / Cost Performance Index (CPI). At the end of Month 2, CPI was 0.86. BAC was $50000 so the EAC was $58,333. Estimate To Completion (ETC) up to end of month 3 : Estimate At Completion (EAC) - Actual Costs (AC). At the end of Month 3, the EAC was $59,375 and the actual costs where $47,500, giving an ETC of $11,875. The Estimated Time To Complete the 4-month project based on the SPI of 0.60 at the end of Month 2 : was 4/0.60 which is 6.67 months. Multiple choice question. At the end of month 3: d: At the end of Month 3, the CPI was less then 1, indicating the project was over budget. At the end of Month 3, the SPI was 1.0, indicating that the project was back on schedule. Month 1 Month 2 Month 3 Month 4 $- $10,000.00 $20,000.00 $30,000.00 $40,000.00 $50,000.00 $60,000.00 $70,000.00 Earned Value Management Planned Value Actual Costs Earned Value

EVM Trial Quiz Solutions 1. What is the BAC (Budget At Completion) for this project? (Do not include a dollar Solution: The sum of the budgeted costs per month ($10,000+$15,000+$15,000+$10,000) = $50,000. 2. According to the budget, what is the Planned Value (PV) at the end of Month 2? (D Solution: Planned Value is cumulative costs per month ($10,000+$15,000)=$25000 3. What is the Actual Cost (AC) of the project by the end of Month 3? (Do not includ Solution: The actual costs of the project by the end of of Month 3 is the sum of the monthly costs ($12500+$ 4. How much did the Earned Value (EV) increase in Month 2? (Do not include a dolla Solution: The original budget had $15000 of development work in Month 2. Due to the delay in the develop 5. What is the Cost Variance (CV) for the hardware in this project? (Do not include a Solution: Cost Variance = Earned Value - Actual Costs. The server was planned to cost $5000 so it has an EV 6. What was the Schedule Variance (SV) at the end of Month 2? (Do not include a do Solution: Schedule Variance = Earned Value - Planned Value. At the end of Month 2, the project EV is $1500 7. What was the Cost Performance Index of the project at the end of Month 3? (Give Solution: Cost Performance Index = Earned Value / Actual Costs. At the end of Month 3, EV=$40,000 ($1000 8. What was the Schedule Performance Index (SPI) at the end of Month 2? (Give you Solution: Schedule Performance Index = Earned Value / Planned Value. At the end of Month 2, EV=$15,000 ( 9. What was the Estimate At Completion (EAC) based on the approved budget, the ac Solution: Estimate At Completion = Budget at Completion (BAC) / Cost Performance Index (CPI). At the end o 10. What was the Estimate To Completion (ETC) based on the approved budget, the ac Solution: Estimate To Completion (ETC) = Estimate At Completion (EAC) - Actual Costs (AC). At the end of Mo

r sign, commas or cents/pennies in your answer. e.g. 23452) Do not include a dollar sign, commas or cents/pennies in your answer. e.g. 23452) de a dollar sign, commas or cents/pennies in your answer. e.g. 23452) $5000+$30000)=$47500 ar sign, commas or cents/pennies in your answer. e.g. 23452) pment team, they were only able to complete 1/3 or $5000 of the planned work. dollar sign, commas or cents/pennies in your answer. e.g. 23452) of $5000 but the actual cost was $7500 so the Cost Variance was $5000-$7500 which equals -$2500. ollar sign, commas or cents/pennies in your answer. e.g. 23452) 00 but the PV was $25000 so the Schedule variance is -$10000. your answer to 2 digits of precision e.g. 1.23 or -1.23) 00+$5000+$25000) and AC=$47500 ($12500+$5000+$30000). That give a CPI of 0.84. ur answer to 2 digits of precision e.g. 1.23 or -1.23) ($10000+$5000) and PV=$25000 ($10000+$25000). That gives an SPI of 0.60. ctual costs and the earned value up to the end of Month 2? (Do not include a dollar sign, commas or c of Month 2, CPI was 0.86. BAC was $50000 so the EAC was $58,333. ctual costs and the earned value up to the end of Month 3? (Do not include a dollar sign, commas or c onth 3, the EAC was $59,375 and the actual costs where $47,500, giving an ETC of $11,875.

oved budget, the actual costs and earned value up to the end of Month 2? (In months with two digits o h 2 was 4/0.60 which is 6.67 months. udget. At the end of Month 3, the SPI was 1.0, indicating that the project was back on schedule.

of precision e.g. 1.23)