Earned-value analysis. A project budget calls for the following expenditures:

Task	Date	Budgeted Amount
Build forms	April 1	$10,000
Pour foundation	April 1	$50,000
	May 1	$100,000
Frame walls	May 1	$30,000
	June 1	$30,000
Remaining tasks	July 1 and beyond	$500,000

Define each term in your own words, calculate these values for the above project, and show your work:

DATA:

2. Budget at Completion (BAC) is the sum of the total cost or expenditure that is allotted to the individual phase of the projects. The BAC for the given project is $720000.

3. Planned Value is the approved value of the work to be completed in a given time.

Planned value = % of work to be completed on given date X budget at completion

On 1 May the 20% of project is estimated to be completed. Hence

PV = 20%*720000 = 144000

4. Earned Value is the work actually completed to date.

EV = % work completed X Total budget expenditure.

At 1 May the total budget expenditure is $160000 but the foundation work is only 2/3rd complete. So

EV = 10000+(150000*2/3) = 10000+10000= $20000

Question:

1. SV as of May 1.
2. Actual cost as of May 1 is $160,000. Calculate the cost variance (CV) as of May 1.
3. Schedule performance index (SPI)
4. Cost performance index (CPI)