Earned Value Homework A particular project includes five work packages (A through E): Work Package Budget Percent Complete To Date (planned) Percent Complete To Date (actual) Actual Costs To Date A $5,000 100% 100% $4,500 B $10,000 50% 75% $8,000 C $7,500 50% 30% $1,500 D $10,000 20% 20% $2,000 E $5,000 20% 10% $2,000 Knowledge Building Questions For the questions below, assume the distribution of funds with respect to time is linear. 1. What is the cumulative earned value to date for this project? 2. Calculate the cumulative CPI (CPIC ) for this project? 3. Calculate the SPI for work package D. 4. What is the schedule variance (SV) for work package D? What is the percent schedule variance (SV%) for work package D? Somewhat Harder Questions (give these a try) 1. What is the EAC for this project? 2. Assume the SV for a particular work package is -$2,000. What does this -$2,000 represent with regard to scheduled work? 3. What is the estimate to complete (ETC) for the project? 4. Assume a project manager receives an approved change order that results in a new work package F being created with an initial budget of $5,000. At the time the project manager receives the change order and integrates it into the project schedule, what is the effect of this new work on the cumulative CPI and SPI? 5. Assume that for a particular project the project manager has seen SPI data of 0.80, 0.84, 0.88, 0.90, and 0.92 over the past five reporting periods. The project manager has also seen CPI data of 0.94, 0.92, 0.88, 0.86, 0.84 for the same reporting periods. What does this data tell you about the approach that the project manager is taking to managing the unfavorable project CPI and SPI?