Calculate eva assuming each side of fence is now budgeted/Operation Management
After reading the lecture notes, Please calculate EVA assuming each side of the fence is now budgeted for $2,000 per side. Please provide an answer for: PV, EV, AC, BAC, CV, CPI, SV, SPI, EAC, ETC, & VAC Lecture notes:- Our Project is to build a 4 sided Fence: • Each side is to take one day to complete and is budgeted for $1,000 per side. • The side are planned to be completed one after the other. • ****Today is the end of day three**** This is your status report that you as the project manager have been completing for your client: Legend: S=Start, F=Finish, PS=Planned Start, PF=Planned Finish TASK DAY 1 DAY 2 DAY 3 DAY 4 Status at the end of day 3 Side 1 S…..F Completed & spent $1,000 Side 2 S…………….PF ……F Completed & spent $1,200 Side 3 PS….S…….PF 1/2 completed & spent $600.00 Side 4 PS…………..PF Not started & spent $0.00 What is Calculation Needed Answer Interpretation of Answer PV 1K+1K+1K $3,000 We planned to do $3K worth of work by end of day 3 or we should have done $3K worth of work by end of day 3 EV 1K+1K+500 $2,500 Since we only did 2 1/2 sides, we only did $2,500 worth of work AC 1K+1,200+600 $2,800 We actually spent $2,800 BAC 1K+1K+1K+1K $4,000 Our project budget is set at $4,000 CV EV-AC 2,500-2,800 ($300) We are over budget by $300.00 CPI EV/AC 2,500/2,800 $0.893 We are only getting 89 cents for every dollar we spend on the project SV EV-PV 2,500-3,000 ($500) We are behind schedule SPI EV/PV 2,500/3,000 $0.833 We are only progressing at 83% of the rate planned (which is 100%) EAC BAC/CPI 4,000/.893 $4,479 We currently estimate that the total project will cost $4,479 ETC EAC-AC 4,479-2,800 $1,679 We need to spend $1,679 to finish the project VAC BAC-EAC 4,000-4,479 ($479) We currently expect to be $479.00 over budget when the project is completed
