Exercise #$\_1($used in EVM lecture$)$

Project Scenario:

Scope of work: to make $20$ drawings for kitchen remodeling.

Project duration: $4$ weeks

Cost: $$1000$ is allocated for all twenty drawings, i$.$e$.,$ $$50$ per drawing.

Workers: one full$-$time worker is available for the whole four weeks.

More Related Details:

Each drawing has the same level of difficulty, needs the same effort, and takes the same time.

The cost is directly related to effort, i$.$e$.,$ hours worked have equal cost each.

Drawings are produced at an equal pace over the four weeks, i$.$e$.,4$ drawings per week.

So$,$ in summary, we are planning to spend $$\frac{250}{?}$ week for $4$ weeks to produce $5$ drawings$/$week$,$ and each cost $$50$ The percentage of work completed was measured by the number of drawings produced at the end of the measurement period.

Questions:

What is the planned value for the four weeks?

What is the planned budget for each drawing?

How do you assess project performance at a specific point in time?

Assess the performance at the end of week $2($i$.$e$.,$ halfway through the project$).$ Note that by the end of the last day of week $2,$ we had produced only $8$ drawings. The actual payments were $$50$ for the first $7$ drawings and $$70$ for the eighth.