Earned Value Management Question for ETC ,VAC, CPI,CV , PV and EAC
Earned Value Management is a great way to track performance of your Project's schedule and cost. Here is a sample Question: Activity A is worth $200, is 100% complete, and actually cost $200. Activity B is worth $75, is 90% complete, and actually cost $120 so far. Activity C is worth $200, is 75% complete and has cost $175 so far. The total budget is $1000. What is 1) ETC 2) VAC 3) CPI 4) CV 5) PV 6) EAC Answers: You need to look at the activites as tied to an entire project. The BAC is $1,000. PV(Planned Value) 1.Activity A's PV -$200 2.Activity B 's PV -$75 3.Activity C's PV -$200 Then start calculating the EV EV(Earned Value) 1.Activity A is BAC*Actual % Complete 200*100% =200 2.Activity B is BAC*Actual % Complete 75*90%=67.5 3.Activity C is BAC*Actual % Complete 200*75% =150 Total Earned Value = 417.5 AC(Actual Cost) **there is no formular to this Activity A+ Activity B + Activity C Total Actual Cost =200+120+175 = 495 CPI (Cost Perf