Cost Management Exercise No.3 Earned Value Your project is to build the four outer walls of a house now that the foundation is complete. Each wall is scheduled to take 1 day and the budget is $2,000 per wall. The plan is to complete one wall after the other until complete. Today is the end of day 3. Using the information on the project status chart below, calculate the values required. SCHEDULE AND COST TASK DAY 1 DAY 2 DAY 3 DAY 4 STATUS AT THE END OF DAY Wall 1 Complete, $2,000 spent Wall 2 Complete, $2,400 spent Wall 3 50% Complete, $1,200 spent Wall 4 Not started INTERPRETATION OF THE FIND CALCULATION ANSWER ANSWER PV (BCWS) Planned Value EV (BCWP) Earned Value AC (ACWP) Actual Cost BAC Budget at Completion CV Cost Variance SV Schedule Variance CPI Cost Performance Index SPI Schedule Performance Index EAC Estimate at Completion ETC Estimate to Complete VAC Variance at Completion TCPI To Complete Performance Index (BAC-EV)/ (BAC-AC) (BAC-EV) (EAC-AC)