Earned value management, commonly referred to as EVM,

| June 14, 2018

Earned value management, commonly referred to as EVM, is a project management tool that combinesthe cost, schedule, and scope information for a project into an integrated baseline. As the projectprogresses, the team assesses how much work has been performed or earned against this baseline. Theresulting data is used to assess the past performance of the project and to predict the final cost anddelivery of the project based on the past performance.Examine the following EVM data for the Acme project, a hypothetical construction project, to viewinformation on the past and future performance:Cumulative planned value (PV) = 550Cumulative earned value (EV) = 475Cumulative actual cost (AC) = 525Budget at completion (BAC) = 1000After evaluating the Acme project, do the following:1. Calculate the cost variance (CV), schedule variance (SV), cost performance index (CPI), and scheduleperformance index (SPI). Using these four metrics, briefly explain whether the project is ahead or behindfor cost and schedule performance.2. Using the results from the first question, calculate the Estimate at Completion (EAC) and Variance atCompletion (VAC). Analyze the results and explain whether the project is likely to overrun or underrun thebaseline plan and by how much.Submission Requirements:Submit your responses along with the detailed calculation in a Microsoft Excel spreadsheet. Make surethat you include formulas in the spreadsheet so that calculations can be checked. Your analysis of thedata can be included at the bottom of your calculations or submitted in a separate Microsoft Word file.

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