Consider a simple project in which four activities describe the basic tasks. This project is presented here as a bar chart drawn as a time-scaled schedule. The sum of the amounts for the activities in the schedule of values approximates the original anticipated cost of the project. The project duration is 5 weeks. After 3 weeks, the following has been accomplished: Activity A-> 100 Percent complete, total cost $900 Activity B-> 40 percent complete, cost to date $1,400 Activity C-> 50 percent complete, cost to date $1,500 For this project, using earned value concepts, determine the schedule variance and the cost variance. State if the project is over or under budget and if it is ahead of or behind schedule.
Consider a simple project in which four activities describe the basic tasks. This project is presented here as a bar chart drawn as a time-scaled schedule. The sum of the amounts for the activities in the schedule of values approximates the original anticipated cost of the project. The project duration is 5 weeks.
After 3 weeks, the following has been accomplished:
Activity A-> 100 Percent complete, total cost $900
Activity B-> 40 percent complete, cost to date $1,400
Activity C-> 50 percent complete, cost to date $1,500
For this project, using earned value concepts, determine the schedule variance and the cost variance. State if the project is over or under budget and if it is ahead of or behind schedule.
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