Can you please answer these two questions? Step by Step A project to build a new

Question

Can you please answer these two questions? Step by Step

A project to build a new bridge seems to be going very well since the project is well ahead of schedule and costs seem to be running very low. A major milestone has been reached where the first two activities have been totally completed and the third activity is 55% complete. the planners were only expecting to be 46% through the third activity at this time. the first activity involves prepping the site for the bridge. It was expected to cost $1330000 and it was done for only $1295000. the second activity was the pouring of the concrete. This was expected to cost $11000000 but was actually done for $11200000. the third and final activity is the actual construction of the bridge superstructure. This was expected to cost a total of $8550000. To date they have spent $6900000 on the superstructure. Calculate the cost and schedule variance and the schedule and cost performance indexes for the project. Suppose you have a performance clause in your contract that says that you must co

Explanation / Answer

Q2)

Planned value = $1330000+$11000000+$8550000*0.46 =$16263000

Earned value = $1330000+$11000000+$8550000*0.55 = $17032500

Actual Cost = $1295000+$11200000+$6900000 = $19395000

Scheduled variance =Earned value-Planned value =$17032500-$16263000 = $769500

Cost Variance =Earned Value -Actual Cost = -$2362600

Scheduled Performance Index = Earned Value/Planned value = 1.047

Cost Performance Index = Earned Value/Actual Cost = 0.878

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