3. TCPI and CPI Further Explored (see Canvas page on the Control Costs Process for help if needed) You own a house painting company that specializes in exterior paint jobs at supper cheap prices and you hired two college students (Tom and Mike) to each paint the exterior of a small townhouse on two different properties across town from each other. Each worker will be working alone on one of the properties because they do not work well together. The townhouses are the same size and you have estimated that it will take each person 2 days to paint each townhouse (assume they work 8 hours per day). For each day, you are paying $100 to each of the students. To be clear, it should take Tom 2 days to paint townhouse A for $200 and it should take Mike 2 days to paint townhouse B for another $200. These are identical townhouses on the opposite side of town. At the end of day 1 you stop by to check on their progress. This is what you found: Townhouse A Status - (Tom is the painter on the job): After 1 day of work, only 1/3 of townhouse A has been completed. Townhouse B Status (Mike is the painter on the job): After 1 day of work, 62.5% of the townhouse B has been painted. Using Earned Value Management methodologies, calculate the following EVM metrics as of the end of the day on day 1 for each townhouse: TCPI and CPI for Painting Townhouse A (with Tom the painter) (show all work):: a. What is the value for BAC? = Budget At Completion (This is what you planned when you started) b. What is the PV? = Planned Value (when you started off, what you had planned by end of 1 day) c. What is the AC? = Actual Cost (what is the money spent as of day 1) d. What is the EV? = Earned Value (what you have actually done at the end of 1st day) e. What is the value of CPI? f. What does this value tell you about the performance so far? Is it good or bad, explain your answer? g. What is the value of TCPI (calculate it based on the BAC=TBC: Do NOT use EAC)? h. What does this value tell you about the performance needed to complete the project? Is it realistic, explain your answer? i. What is the EAC? = Estimate At Completion (This is going to be your new estimate); calculate EAC assuming that future work performance will be the same as past performance: EAC = BAC/CPI. j. How does this cost compare to the original budgeted cost? 3. TCPI and CPI Further Explored (see Canvas page on the Control Costs Process for help if needed) You own a house painting company that specializes in exterior paint jobs at supper cheap prices and you hired two college students (Tom and Mike) to each paint the exterior of a small townhouse on two different properties across town from each other. Each worker will be working alone on one of the properties because they do not work well together. The townhouses are the same size and you have estimated that it will take each person 2 days to paint each townhouse (assume they work 8 hours per day). For each day, you are paying $100 to each of the students. To be clear, it should take Tom 2 days to paint townhouse A for $200 and it should take Mike 2 days to paint townhouse B for another $200. These are identical townhouses on the opposite side of town. At the end of day 1 you stop by to check on their progress. This is what you found: Townhouse A Status - (Tom is the painter on the job): After 1 day of work, only 1/3 of townhouse A has been completed. Townhouse B Status (Mike is the painter on the job): After 1 day of work, 62.5% of the townhouse B has been painted. Using Earned Value Management methodologies, calculate the following EVM metrics as of the end of the day on day 1 for each townhouse: TCPI and CPI for Painting Townhouse A (with Tom the painter) (show all work):: a. What is the value for BAC? = Budget At Completion (This is what you planned when you started) b. What is the PV? = Planned Value (when you started off, what you had planned by end of 1 day) c. What is the AC? = Actual Cost (what is the money spent as of day 1) d. What is the EV? = Earned Value (what you have actually done at the end of 1st day) e. What is the value of CPI? f. What does this value tell you about the performance so far? Is it good or bad, explain your answer? g. What is the value of TCPI (calculate it based on the BAC=TBC: Do NOT use EAC)? h. What does this value tell you about the performance needed to complete the project? Is it realistic, explain your answer? i. What is the EAC? = Estimate At Completion (This is going to be your new estimate); calculate EAC assuming that future work performance will be the same as past performance: EAC = BAC/CPI. j. How does this cost compare to the original budgeted cost
