Question $2$: Calculate Earned Value Indicators

Based on the following data:

The Budget At Completion $($BAC$)$ cost of the project is estimated to be: $$52,250.$

$$ Earned value data is available for the first three weeks of the project $($see below$).$

$$ The project is due to end on week four $(4).$

Project Data Week $1$ Week $2$ Week $3$ Week $4$

Cumulative Actual Costs $$5,000$ $$16,000$ $$37,800$

Cumulative Planned Value $$11,750$ $$22,000$ $$43,000$ $$52,250$

Cumulative Earned Value $$7,000$ $$22,000$ $$47,000$

Based on the above data, calculate the following earned value indicators:

EVM Indicator Week $1$ Week $2$ Week $3$ Formula used

Cost Variance $$2000$ $$6000$ $$9200$ CV$=$EV$-$AC

Schedule Variance $$4750$ $$0$ $$4000$ SV$=$EV$-$PV

Cost Performance Index $1\mathrm{.}401\mathrm{.}381\mathrm{.}24$ CPI$=$ EV$/$AC

Schedule Performance Index $0\mathrm{.}601\mathrm{.}001\mathrm{.}09$ SPI$=$ EV$/$PV

Estimated Cost At Completion

$($use the EAC $=$ BAC $/$ CPI formula$)$ $$37,321\mathrm{.}43$ $$37,898\mathrm{.}55$ $$42,120\mathrm{.}07$ EAC$=$BAC$/$CPI

Estimated Cost to Complete $$32,321\mathrm{.}43$ $$21,898\mathrm{.}55$ $$4,320\mathrm{.}97$ ETC$=$ EAC$-$AC

For this question you need to:

$$ Identify which formulas you used for each indicator;

$$ Show an example of your calculations $($work$)$ for each indicator; and

$$ Calculate each indicator for each of the first three weeks.

Question $3$: Earned Value Management Dashboard

$$ Based on the question $2$ data, represent the project$$s earned value status in a visual format.

$$ Your image need only include your AC$,$ EV$,$ and PV over the four$-$week project $($see example chart at right$).$

$$ This chart can be done in Excel $($or equivalent$),$ or it can be drawn by hand $($and then digitally scanned or photographed, and included in your assignment$).$

Figure $1$: Sample EVM dashboard