Earned value analysis
1) PV (budget cost of work scheduled)
An estimate of one day for four bookshelves
Each bookshelf estimated cost of $1000
PV=total cost within given time estimate
PV=4*1000
=4000
2) EV (budget cost of work performed)
1st book shelf complete=1000
2nd bookshelf complete=1000
3rd bookshelf 40/100=480
EV=sum of complete work packages + portion of open work packages
EV=1000+1000+480
=2480
3) AC ( actual cost of work performed)
1st book shelf complete=1000
2nd bookshelf complete=1200
3rd bookshelf =480
AC=cost incurred to date
AC=1000+1200+480
=2680
4) BAC (budget at completion)
1000+1000+1000+1000
=4000
5) CV (cost variance)
BCWP-ACWP
2480-2680
= -200
6) CPI (cost performance index)
BCWP / ACWP
2480/2680
=0.9
7) SV (schedule variance)
BCWP-BCWS
2480-4000
= -1520
8) Schedule performance index
BCWP=1000/3+1200/3+1200/3
1133.33
BCWS=4000
=1133.33/4000
=0.28
9) ETC (Estimate at completion)
EAC-AC
EAC=BAC/CPI
4000/0.9
=4444.44
ETC=EAC-AC
=4444.44-2680
=1764.44
10) EAC ( estimated actual cost)
EAC=BAC/CPI
4000/0.9
=4444.44
11) VAC (variance at completion)
BAC – EAC
4000-4444.44
= -444.44
