Let's assume that a project you are on needs to develop a website with 4,000 web pages. The estimated budget at completion (BAC) is $400,000. The time limit for the project is 12 months. After 6 months, the Actual Cost (AC) is found to be $300,000. The work completed is 1,000 web pages, i.e.only $100,000 worth of work has been completed. Below is a chart showing the S-curves for the Earned Value (EV), the Actual Cost (AC), the Planned Value (PV), and the Total Budget (BAC) EMV S-Curve After 6 months: . The Planned Value (PV) - 2,000 web pages - $200,000 The Earned Value (EV), ie., actual value of work done - 1,000 web pages - $100,000 The Actual Cost (AC) = $300,000 The Total Budget (BAC) = $400,000 . Please answer the following questions by filling in the blanks. The formulas are given for each: 1. Question: What is the Schedule Variance (SV) in this situation given the formula SV = EV - PV = variance is not good). This project is Schedule (note that a negative ARE (Cost performance index): The manager did not know that it would take so much time and cost to develop the website. Actually, 1,000 web pages cost $300,000 and the remaining 3,000 web pages will cost the same amount per page to develop. 6. Question: Total cost can be calculated using the formula EAC - BAC/CPI- TCPI (To Complete Performance Index): This is the calculated projection of cost performance that must be achieved on the remaining work. It is the ratio of "remaining work" to the "funds remaining." If it becomes obvious that the BAC (Budget At Completion) is no longer valid, the project manager develops a forecasted EAC (Estimate-At-Completion). Once approved, the EAC effectively replaces the BAC (Budget-At-Completion) as the cost performance goal. 7. Question: TCPI = Work Remaining (BAC - EV)/Funds Remaining (BAC - AC) - Or TCPI - Work Remaining (BAC - EV) / Funds Remaining (EAC - AC) - (only if you have the EAC) 8. Question: In the case study, calculate the TCPI for the project assuming that the EAC of $1,200,000 has been approved. TCPI - (BAC - EV)/(EAC - AC) - 9. and 10. Question: Why is Earned Value a very powerful tool? Answer: It combines the cost, scope, and under different estimating assumptions as integrated tool to calculate project performance. It also allows us to do discussed earlier. as an Rod Photos Prime Video Four Outlook Useful Acronyms & Formulas Acronym Name Formula PV Planned Value (at a given point in time) EV Earned Value (value of work completed) AC Actual Cost (what is spent at a certain time) BAC Budget At Completion (Total Budget) Total budget allocated for the project CV Cost Variance CV-EV (Earned Value) - AC (Actual Cost) SV Schedule Variance SV-EV(Earned Value) - PV (Planned Value) CPI Cost Performance Index CPI - EV (Earned Value) /AC (Actual Cost) SPI Schedule Performance Index SPL-EV (Earned Value) / PV (Planned Value) EAC Estimate At Completion EAC - BAC (Budget At Completion)/CPI(Cost Performance Index) e to search O X I Assignment: Week 4 - Earned Val x Mail-Kaur, Manjit Student] - OLX + Hawkcollege.ca/courses/39713/assignments/322111 M Gmail 190 universities just... iCloud Photos Cri CUSLreTTormance mex Prime Video: Four... Outlook CITEV Icarreu vage TAC Tactuarcos SPI Schedule Performance Index SPL-EV (Earned Value) / PV (Planned Value) EAC Estimate-At-Completion EAC - BAC (Budget At Completion)/CPI(Cost Performance Index) ETC Estimate-to-complete ETC - EAC (Estimate-At-Completion) - AC (Actual Cost) VAC Variance-at-Completion VAC-BAC (Budget At Completion) - EAC (Estimate-At-Completion) TCPI To-Complete Performance Index TPCI - (BAC - EV)/(BAC - AC) % Complete Percentage Complete % Complete = (EVBAC) 100 EMV S-Curve $450,000 $400,000 $350,000 7 $300,000 $250.000 150 $200,000 $150,000 S10x200 -EV 550.000 05 PV Time months