Earned Value Management Case Study Directions: Use the Earned Value Management Case Study and the work that you did in Week 4 -$ in the Case Study Analysis assignments to complete this worksheet in the areas indicated. Step 4 - Overall Efficiency Ratings John is shaking his head in disbelief. Not only is his project struggling to meet the original estimates, but he must now report the bad news at the next steering committee meeting. He knows that the management team will not be able to follow the calculations shown above. So he needs to simplify the reporting to three simply values. Symbol Description Formula Explanation PE Planned Earned EV/BAC Project * Complete (as it relates to time and deliverables) PS Percent Spent AC/BAC Project * Spent (as it relates to cost) CSI Cost Schedule cpgp The overall efficiency rating. The further CSI is from 1.0, the project will have Index difficulties in recovering. Toble & Directions: Using the known values, calculate PE, PS, and CSI. Term Value Notes (if applicable) Project * complete (as it relates to time and deliverables) Using (EV/BAC): $5.500/$10,000 Project * Spent (as it relates to cost); Using (AC/BAC $9,000/$10,000 The Overall efficiency rating. The further CSI is from 1, the project will have difficulties in recovering. .3361 Using (CPI SPI) (Table 9) Directions: Using the data you created, address the following questions in a paper. Your paper should in APA format and written in Word. Cite your sources. Explain the results of PE. . . Explain the results of PS. Explain the results of CSI. Collectively, summarize these figures and the condition of the overall project. The formulas provide a mathematical analysis of performance. Unfortunately, they cannot explain "why" the inefficiencies have occurred. For this, John will need to examine the work of some of his programmer in order to understand why they are running over the allotted time for each task. Hopefully, he can correct the problems. The other issue to consider is that the task lengths were severely underestimated. Interviews with the programmers may show that they in fact are working to the best of their ability. The problem may have occurred in the original project estimates. Conclusion There is much more to EVM than discussed in this article. But you are now aware of the third dimension of a project's financial analysis. All three dimensions are key elements that must be considered when analyzing project performance.lEarned Value Case Study Supplemental Information PM John seeing the error of his ways went back and gathered the following information. o Programmer 1 has completed two and half of his four subtasks. o Programmer 2 has completed three of his four subtasks. o Programmer 3 has completed four of his/her four subtasks. o Programmer 4 has completed three of his/her four subtasks. o Programmer 5 has completed four of his/her four subtasks. Each subtask was estimated to take the same length of time. John also discovered that due to a communications error with the programmer's functional manager that each was authorized to only work 18 hours per week on the project