Question 1: Part A - 8 marks, Part B - 4 marks, Part C - 3 marks)

(15 Marks)

A four (4) months project has the following budget management figures:

A. Complete the table below by calculating the values for CV, CPI, SV, and SPI

Tasks

EV

PV

AC

CV

CPI

SV

SPI

month 1

$3,000

$3,500

$3,500

month 2

$9,000

$8,500

$8,000

month 3

$13,000

$12,000

$11,000

month 4

$2,500

$4,000

$3,500

month 5

$2,000

$2,000

$3,500

Earned Value Management formulas

SV= EV-PV

CV=EV-AC

SPI=EV/PV

CPI=EV/AC

B. Determine the project status by evaluating CV, CPI, SV, and SPI for each month (eg. Over budget, on budget, Under budget etc)

Tasks

Cost

Schedule

month 1

month 2

month 3

month 4

month 5

C. Is the project successful? Why or why not?