Earned value recognizes both completion scheduled and cost pull up a video on you tube y

That covers this concept or also look in Text

Given the following information for a one$-$year project, answer the following questions. Assume you have actual

and earned value data at the end of the second month. Recall that PV is the planned value, EV is the earned

value, $AC$ is the actual cost, and BAC is the budget at completion.

$PV=$$$23,000$

$EV=$$$20,000$

$AC=$$$25,000$

BAC$=$$$120,000$

What is the cost variance, schedule variance, cost performance index $($CPI$),$ and schedule performance index

$($SPI$)$ for the project?

Cost variance $=$

Schedule variance $=EV-PV=$

$\frac{C}{P}$I $=E\frac{V}{A}C=$

$\frac{S}{P}$I $=E\frac{V}{P}V=$

How is the project progressing? Is it ahead of schedule or behind schedule? Is it under budget or over budget?

$3.$Use the CPI to calculate the estimate at completion $($EAC$)$ for this project. Is the project performing better or

worse than planned?

Use the SPI to estimate how long it will take to finish this project.

The estimated time to finish the project $=$

Sketch the earned value chart for this project, using Figure $8-5$ as a guide. Assume the data for month $1$ is half

of the values given for PV$,$ EV$,$ and AC at the end of month $2.$

The chart should resemble the following figure, available in file ex$7-2.$xls$.$