Project Control and Monitoring

Problem Statement: At month 6, a project has a Planned Value (PV) or Budgeted Cost of Work Scheduled (BCWS) of $500,000. The Earned Value (EV) or Budgeted Cost of Work Performed (BCWP) is $450,000. The Actual Cost (AC) or Actual Cost of Work Performed (ACWP) is $480,000. Calculate CV, SV, CPI, and SPI.

Problem Statement: Using the data from the previous problem (PV = \500,000$,$EV = $450,000$,$AC = $480,000$,$CPI = 0.9375), if the original Budget at Completion (BAC) is \1,000,000, what is the new Estimate at Completion (EAC) assuming the current cost performance will continue for the rest of the project?

Problem Statement: A project has a BAC of $2,000,000. At the halfway point, AC = \1,100,000$and$EV = $1,000,000. The project manager realizes the \100k overrun was caused by a singular, unrepeatable event (a freak storm that damaged materials). The rest of the work will proceed at the originally budgeted rate. Calculate the new EAC.

Problem Statement: A project has a BAC = \5,000,000$,$EV = $2,000,000$, and$AC = $2,500,000. The owner refuses to increase the budget, so the project must finish within the original \5M BAC. What cost efficiency (TCPI) must the contractor maintain for the remainder of the work to hit this target?

Problem Statement: A construction project was scheduled to be completed in 12 months. At the end of month 4, the project has a $SPI$ of $0.85$. If the current schedule efficiency is maintained, what is the new Estimated Duration (ED)?

Problem Statement: For a bridge project, the current values are EV = \1,200,000$,$PV = $1,500,000$, and$AC = $1,350,000$. Calculate the Cost Variance Percentage ($CV%$) and Schedule Variance Percentage ($SV%$) to determine the relative magnitude of the deviations.

Problem Statement: A project has a BAC = \4,000,000$. Currently,$EV = $1,500,000$,$AC = $1,800,000$, and$PV = $1,700,000$. The project manager believes that poor schedule performance is directly causing increased costs (e.g., extended equipment rentals and overhead). Calculate the$EAC$accounting for both the current$CPI$and$SPI$.

Problem Statement: A project with a BAC = \8,000,000$has reached the halfway mark with an$EV = $4,000,000$and$AC = $5,200,000. The initial assumptions were fundamentally flawed, and past performance is not a reliable indicator for future work. Management decides to perform a bottom-up estimate for the remaining work, which is calculated to be \4,500,000. Calculate the new EAC and VAC.

Problem Statement: Using the data from the previous problem (BAC = \8,000,000$,$EV = $4,000,000$,$AC = $5,200,000$,$EAC = $9,700,000$), calculate the To-Complete Performance Index ($TCPI) required to meet the new management-approved EAC of \9,700,000.

Problem Statement: A contractor is pouring a 5,000 square foot concrete slab. The total budgeted cost for this task is $25,000. At the end of the first day, the contractor has successfully poured 1,250 square feet. Using the units completed method, calculate the Earned Value (EV).

Problem Statement: A task involves fabricating and installing a specialized steel truss with a total budget of $120,000. The progress is tied to three milestones:

• Milestone 1: Fabrication complete (40%)
• Milestone 2: Delivery to site (20%)
• Milestone 3: Final installation (40%)

Currently, the truss is fabricated and delivered, but not yet installed. Calculate the Earned Value.

Problem Statement: At month 4 of a 10-month project, the Planned Value (PV) on the baseline S-Curve was expected to be $400,000. However, the Actual Cost (AC) is$450,000 and the Earned Value (EV) is only $300,000. What is the Schedule Variance (SV) and Cost Variance (CV), and what do these signify regarding the shape of the current S-Curves relative to the baseline?