This is the earned value assignment. Construct a minimum 3 page paper. Earned value is in chapter 14 of the book. Although it is an advanced topic, you will need to know about earned value to support development of future Gantt chart assignments. You can use the book, the web or any research tools to develop this assignment. What I am asking is that you describe the following:

1. Example answer for CPI: The cost performance index (CPI) is a measure of the conformance of the actual work completed (measured by its earned value) to the actual cost incurred: CPI = EV / AC earned value terms: BCWS b. BCWP CPI d. SPI e. ACWP f. PV g EV h. AC i. BAC j. EAC k. But what does that mean? Well, look up the definition of EV. It might say that BCWP = EV. What does that mean? Then look up AC, and why is AC = ACWP. If you compute CPI an it come out to 1.6, what does that tell the project manager? Are you sure? Don't take the first definition as face value. ETC 2. any equations related to the earned value terms Are there some rules of thumb that project managers use when looking at CPI? Most of the earned value terms have a least one corresponding equation. Enumerate the equations. 3. apply the earned value terms to the open software company project Make up some numbers for the open software company project (Do not copy someone else's numbers). Example: BAC = $550,000 We are at the 3-month point of a 12 month schedule ACWP = $80,000 BCWS = $30,000 BCWP = $40,000 Calculate (or make assumptions were necessary) about the other earned value terms. Tell me the status of the project based on the calculations. For example, are we ahead or behind schedule, can we recover if we are behind, what is the ETC etc. 4. Cite references to anything BAC definition used from: https://www.microsoftpressstore.com/articles/article.aspx?p=2224369&seqNum=5 you used. 1. Example answer for CPI: The cost performance index (CPI) is a measure of the conformance of the actual work completed (measured by its earned value) to the actual cost incurred: CPI = EV / AC earned value terms: BCWS b. BCWP CPI d. SPI e. ACWP f. PV g EV h. AC i. BAC j. EAC k. But what does that mean? Well, look up the definition of EV. It might say that BCWP = EV. What does that mean? Then look up AC, and why is AC = ACWP. If you compute CPI an it come out to 1.6, what does that tell the project manager? Are you sure? Don't take the first definition as face value. ETC 2. any equations related to the earned value terms Are there some rules of thumb that project managers use when looking at CPI? Most of the earned value terms have a least one corresponding equation. Enumerate the equations. 3. apply the earned value terms to the open software company project Make up some numbers for the open software company project (Do not copy someone else's numbers). Example: BAC = $550,000 We are at the 3-month point of a 12 month schedule ACWP = $80,000 BCWS = $30,000 BCWP = $40,000 Calculate (or make assumptions were necessary) about the other earned value terms. Tell me the status of the project based on the calculations. For example, are we ahead or behind schedule, can we recover if we are behind, what is the ETC etc. 4. Cite references to anything BAC definition used from: https://www.microsoftpressstore.com/articles/article.aspx?p=2224369&seqNum=5 you used