The following eight activities constitute an overall bar chart portrayal of a 4-month project. After 1.5 months, activities A, B, D are completed and E is 50% complete, for a cost of $80,000. For this project, using earned value concepts, determine the schedule and cost variance. Is the project ahead or behind schedule? Over or under budget? Activity A B с AEFGH D H Cost $2,000 $1,000 $6,000 $2,000 $7,000 $9,000 $3,000 $10,000 Month 1 Month 2 Month 3 Month 4

The following eight activities constitute an overall bar chart portrayal of a 4-month project. After 1.5 months, activities A, B, D are completed and E is 50% complete, for a cost of $80,000. For this project, using earned value concepts, determine the schedule and cost variance. Is the project ahead or behind schedule? Over or under budget? Activity A B с AEFGH D H Cost $2,000 $1,000 $6,000 $2,000 $7,000 $9,000 $3,000 $10,000 Month 1 Month 2 Month 3 Month 4

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)

5th Edition

ISBN:9781305084766

Author:Saeed Moaveni

Publisher:Saeed Moaveni

Chapter20: Engineering Economics

Section: Chapter Questions

Problem 19P

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Concept explainers

Cost control

Cost control or management in property or project management is the process by which managers maintain costs under human resource management, assets, and capital expenditure to ensure that the project ends on a budget basis. Cost management depends on reasonable estimates and ongoing monitoring during the project. As a result, good cost control is essential for any construction business that wants to succeed.

Question

The following eight activities constitute an overall bar chart portrayal of a 4-month project.
After 1.5 months, activities A, B, D are completed and E is 50% complete, for a cost of $80,000.
For this project, using earned value concepts, determine the schedule and cost variance. Is the
project ahead or behind schedule? Over or under budget?
Activity
A
B
с
D
E
F
G
H
Cost
$2,000
$1,000
$6,000
$2,000
$7,000
$9,000
$3,000
$10,000
Month 1
Month 2
Month 3
Month 4

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