To find the earned value (EV) of a project, the percentage of work complete is multiplied by thecost variance (CV)planned value (PV)actual cost of work performed (ACWP)budget at completion (BAC)

Given data Earned value Percentage of work complete

To find the earned value (EV) of a project, the percentage of work complete is multiplied by the O cost variance (CV) planned value (PV) actual cost of work performed (ACWP) budget at completion (BAC)

To find the earned value (EV) of a project, the percentage of work complete is multiplied by the O cost variance (CV) planned value (PV) actual cost of work performed (ACWP) budget at completion (BAC)

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 24P

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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

To find the earned value (EV) of a project, the percentage of work complete is multiplied by the
cost variance (CV)
planned value (PV)
actual cost of work performed (ACWP)
budget at completion (BAC)

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Engineering Management