Earned Value Exercise
Earned Value Exercise
Example*: You have a project to build a new fence. The fence is four sided. Each side is to take one day to build and is budgeted for $1,000 per side. The sides are planned to be completed one after the other. Today is the end of day three. Calculate PV, EV, AC, BAC, CV, CPI, SV, SPI, EAC, ETC, and VAC
|Status end of day 3 |Day 4 |Day 3 |Day 2 |Day 1 |Activity |
|Complete, spent $1,000 | | | |S---------F |Slide1 |
|Complete, spent $1,200 | |-----F |S---------PF | |Slide2 |
|50% done, spent $600 | |PS---S---PF | | |Slide3 |
|Not yet started |PS-------PF | | | |Slide4 |
|Interpretation of the answer |Answer |Calculation | |
|We should have done $3,000 worth of work. |3,000 |1,000 + 1,000 + 1,000 |PV |
|We have actually completed $2,500 worth of work |2,500 |1,000 + 1,000 + 500 |EV |
|We have actually spent $2,800 |2,800 |1,000 + 1,200 + 600 |AC |
|Our project budget is $4,000. |4,000 |1,000 + 1,000 + 1,000 + 1,000 |BAC |
|$300 over budget |-300 |2,500 – 2,800 |CV |
|We are only getting 89 cents out of every dollar we put into the |.893 |2,500 / 2,800 |CPI |
|project. | | | |
|We are behind schedule |-500 |2,500 – 3,000 |SV |
|We are only progressing at 83% of the rate planned |.833 |2,500 / 3,000 |SPI |
|We currently estimate that the total project will cost $4,479 |4.479 |4,000 / .893 |EAC |
|We need to spend $1,679 to finish the project |1,679 |4.479 – 2,800 |ETC |
|We currently expect to be $479 over budget when the project is |-479 |4,000 – 4,479 |VAC |
|competed. | | | |
* PMP Exam Prep, P-210
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