Project Tracking and EVM Essay

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project budget of $500,000. The project is a 10-month project and the budget analyst planned to spend $50,000 per month on the project. At month 6, you review the project status and you realize the project is 40% complete. Assume you are at the end of month 6 and will include month 6's work into your EV calculation. The project has spent $425,000 to date. Using the formulas from your book, answer the following questions:

PV = Planned Value is the Scheduled Value = 6 months * $50,000 per month = 300,000

EV = % Complete * Original Budget = 40% * 500,000 = 200,000

AC = Actual Cost of the Work Completed = 425,000 (Given)

SV = EV -- PV = 200,000 -- 300,000 = -100,000

CV = EV -- AC = 200,000 -- 425,000 = -225,000

BAC = Baseline Costs = 500,000 (Given)

EAC = AC + ((BAC -- EV) / CPI) = 425,000 + ((500,000 -- 200,000) / .47) = 1,063,297.

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CPI = Cost Performance Index = EV / AC = 200,000 / 425,000 = .47 = 47%

SPI = Schedule Performance Index….....

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