The following seven activities constitute an overall bar chart portrayal of a 4-
ID: 356872 • Letter: T
Question
The following seven activities constitute an overall bar chart portrayal of a 4-month project. Iwo months after the start of construction, Activities A, C, D, half of E, and one-fourth of B were completed, for a cost of $10,500. Evaluate the status of the project. Using earned value concepts, determine the schedule variance and the cost variance, CPL, SPL, the percentage completion. and EAC. State if the project is over or under budget and if it is ahead of or behind schedule. Show detail calculations of all earned value cost parameters. Activity Cost Month 1 Month 2 Month 3 Month 4 $1,000 $4,000 S5,000 $1,000 $15,000 $1,000 Checklist before you submit the assignment Yes Got it No 1. Did you show all calculations for BAC, BCWP, BCWS, and 2. Did you state if the project is over or under budget and if it is 3. Did you use EAC equation from the handout "Earned Value ACWP? ahead of or behind schedule? A Means for integrating costs and schedule?"Explanation / Answer
Generally a cost variance is the difference between a cost's actual amount and its budgeted or planned amount. For example, if a company had actual repairs expense of $950 for May but the budgeted amount was $800, the company had a cost variance of $150.