Posted: April 27th, 2015

Calculating Earned Value

Calculating Earned Value

Question 1. Explain briefly the Project Management concept of Earned Value.

Question 2.
Below, you can see the work and budget planned for a project that started six months ago.
Calculate the following elements using the Earned Value formulas.
In addition to the numeric answer provide a brief explanation for the concepts 5, 6, 7, 8,9,10,11,12

Month 1    Month 2    Month 3    Month 4    Month 5    Month 6    Month 7    Month 8    Month 9    Month 10    Total
Work planned    5%    5%    10%    10%    10%    15%    15%    15%    10%    5%    100%
Budget Planned     50,000      50,000      100,000      100,000      100,000      150,000      150,000      150,000      100,000      50,000      1,000,000

Six months after inception you have achieved 40% of the project $700,000

1    AC
2    BAC
3    PV
4    EV
5    CV
6    SV
7    CPI
8    SPI
9    EAC
10    ETC
11    TCPI based on BAC
12    TCPI based on EAC

Question 3.
What can you do to incorporate your findings to a change management system ?

Question 4
What is the importance of the