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