A particular project is scheduled to complete in Week 50 at a budgeted cost of $150,000. As of Week 30, an earned value chart is prepared to present the project progress as below: Status Dale l 5'000 5 10 15 20 25 30 35 40 45 50 Weeks a. Calculate schedule, cost and time variances, as well as schedule and cost performance indices for Week 30. Then use this information to comment on the project progress at Week 30 (status date). b. Based on the performance at Week 30, estimate the nal project cost (EAC). Will the nal project cost be higher or lower than the budgeted cost, and by how much? Also estimate the revised project completion date. Will the project complete sooner or later than the planned completion date, and by how many weeks? FORMULA SHEET Interest Factors F Single Payment Present Worth: P =- (1 + i)" Uniform Series Present Worth: p = 4(1+ 7)" -1] i(1 + i)" Economic Evaluation Techniques Net present value = _ Present Worth (Benefits) - _ Present Worth (Costs) Benefit-cost ratio = _ Present Worth (Benefits) / _ Present Worth (Costs) Rate of return = the discount rate that makes NPV equal to zero Expected Monetary Value Expected monetary value (EMV) = _ (probability of outcome x payoff of outcome) Earned Value Analysis CV = EV -AC SV = EV - PV TV = Date on which PV equals the EV of the status date - Status date CPI = EV/AC SPI = EV/PV ETC = (BAC - EV)/CPI EAC =ETC + AC ECD = Status date + Planned completion date-date where BV= PV SPI Earned Value Analysis abbreviations AC Actual cost EV Earned value PV Planned value CV Cost varianceBAC Budgeted cost at completion SV Schedule variance TV Time variance CPI Cost performance index SPI Schedule performance index ETC Estimated to completion EAC Estimated at completion ECD Estimated completion date Minimum Moment Method (MOM) MO = 1 E(yi)- yi = Quantity of resource at time i, i = 1,2,3,..,n