This exercise will help you apply EVM concepts to a real$-$world project scenario and assess its performance. It will also give you practice in calculating and interpreting key EVM metrics.

Scenario: You are a project manager overseeing the construction of a new office building. The project is well underway, and you want to assess its performance using Earned Value Management $($EVM$)$ techniques. Below are the project details and data you have collected.

Project Details:

$-$ Project Name: ABC Office Building Construction

$-$ Total Budget $($BAC $-$ Budget at Completion$)$: $$200,000$

$-$ Planned Duration: $12$ months

$-$ Status Date: End of Month $6($You are halfway through the project$)$

$-$ Number of Work Packages: $10$

Data at the Status Date $($End of Month $6)$:

$-$ Planned Value $($PV$)$: $$100,000$

$-$ Earned Value $($EV$)$: $$80,000$

$-$ Actual Cost $($AC$)$: $$110,000$

Objective: Provide a written analysis of the project's performance based on the calculated metrics.

Tasks:

$1).$ Calculate the following Earned Value Management $($EVM$)$ metrics for the XYZ Office Building Construction project at the end of Month $6$:

$-$ Cost Variance $($CV$)$

$-$ Schedule Variance $($SV$)$

$-$ Cost Performance Index $($CPI$)$

$-$ Schedule Performance Index $($SPI$)$

$-$ Estimate at Completion $($EAC$)$ assuming the current performance will continue

$-$ New completion date

$-$ Estimate to Completion $($ETC$)$

$-$ Variance at Completion $($VAC$)=$ BAC $-$ EAC

$2).$ Interpret the calculated metrics and provide insights into the project's performance at the halfway point. Is the project on budget, ahead of schedule, or behind schedule? What corrective actions might be necessary?

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