Objective:

This assignment is intended to help you practice earned value management techniques and analysis with a view of developing this skill. It is an individual assignment, and NO collaboration, or assistance of any kind will be accepted.

Description

Assume that a work package was planned to be completed in 25 weeks, with a budget of $250,000, phased equally over the 25 weeks ($10,000 per week), with 4% of the work to be completed each week. At the end of the first 5 weeks, the package was 18% completed. The following is additional information related to this package:

Planned value (PV): $10,000 (each week)

Actual cost (AC): $60,000 (at the end of the first 5 weeks)

Budget at Completion (BAC) $250,000 (for the whole package)

Original Time Estimate (OTE): 25 weeks (for the whole package)

Required--Compute and answer the following (show all your calculations):

1. Rate of performance (RP):
2. Earned value (EV):
3. i) Cost variance (CV):

ii) Schedule variance (SV): iii) Cost performance index (CPI):

iv) Schedule performance index (SPI):

4. Estimate at completion (EAC):
5. Estimate to complete (ETC)
6. Estimated time to complete (ETTC):
7. How is work on the package progressing (be specific, indicating the underlined keyword):
   1. Is it ahead of schedule or behind schedule? Why do you think so?
   2. Is it under budget or over budget? Why do you think so?

Notes:

• You must show all your work that supports the answer
• Identify the answer for each question with its letter code (eg. (a) or( ii)).