Project Earned Value Exercise Paper

Project Earned Value Exercise

Project 1
June (Monthly) Performance Data

WBS Work Package
June Budget Cost
June Actual Cost
June Earned Value
1.0
WP 1
$200
$100
$400
2.0
WP 2
1,500
1,800
1,500
3.0
WP 3
1,800
2,100
1,900
4.0
WP 4
500
100
800

Total
$4,000
$4,100
$4,600

Project Number 1 Performance Report (Project-to-Date) As of June 30
WBS
#
WBS Work Package
PV ($)
EV ($)
AC ($)
Cost Variance. ($)
Cost Variance (%)
Schedule Variance ($)
Schedule
Variance (%)
1.0
WP 1
25200
20400
18600
1800
9%
-4800
-19%
2.0
WP 2
6500
6500
6600
-100
-2%
0
0%
3.0
WP 3
9800
3900
5300
-1400
-36%
-5900
-60%
4.0
WP 4
2500
1800
1600
200
11%
-700
-28%

Total Project
44,000
32,600
32,100
500
2%
-11400
-26%

Performance Report (Project-to-Date) As …show more content…
Work Package 3 has just commenced. So far, Work Package 4 has not started at all. Finish the following earned value report table. The full budget for this project is $53,000. Work projects 1 through 4 are allocated $26,000, $12,000, $10,000 and $5,000 respectively.

Performance Report (Project-to-Date)
As of June 30

WBS Element
PV ($)
EV ($)
AC ($)
Cost Var. ($)
Cost Var. (%)
Schedule Var. ($)
Schedule
Var. (%)
1.0
WP 1
$26,000
$26000
$25,500
$500
2%
$0
0%
2.0
WP 2
$9,000
6000
5,400
600
10%
-3000
-33%
3.0
WP 3
$4,800
5000
4,100
900
18%
200
4%
4.0
WP 4
$0
0
0
0
0%
0
0%

Total
$39,800
$37,000
$35,000
$2,000
5%
-$2,800
-7%

Because this project is comprised of only four components, the results are inconclusive. This is because of the distortions that come about when the earned value allocated to distinct tasks formulae are considerable and do not cancel out one another. In this case, the earned value requires accrual to distinct (discrete) tasks, since this makes it easier for the client to assess this project satisfactorily. Thus, this explains why the client is bound to attempt to negotiate the accrual based earned value formula, as opposed to the allocated based earn value