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Unit 13 - Breakout Activity - EVM Student Materials

The document outlines a group activity focused on Earned Value Management (EVM) for a project involving the construction of a 4-sided fence. By the end of day 3, the project is 70% complete with incurred costs of $3,500, indicating it is behind schedule and over budget. Key calculations include an earned value of $2,800, a cost variance of -$700, and a forecasted total cost of $5,000, resulting in a variance at completion of -$1,000.

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6 views1 page

Unit 13 - Breakout Activity - EVM Student Materials

The document outlines a group activity focused on Earned Value Management (EVM) for a project involving the construction of a 4-sided fence. By the end of day 3, the project is 70% complete with incurred costs of $3,500, indicating it is behind schedule and over budget. Key calculations include an earned value of $2,800, a cost variance of -$700, and a forecasted total cost of $5,000, resulting in a variance at completion of -$1,000.

Uploaded by

krubhagat
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Session 12 – Earned Value Management – Student Materials

Breakout Activity
Title: Learning EVM Concepts
1. The project: You and your team are building a 4-sided fence. Each side is of equal length and
you estimate that each side will contain the same material and labor costs as well as take the
same amount of time to complete. You estimate that the project will take 4 days to complete
and your budget is $4,000.

At the end of 3 days, you are asked to prepare an Earned Value calculation in to determine how
the project is progressing. You determine that as of the end of day 3, total costs incurred are
$3,500 and 70% of the project is completed.

2. The analysis: With these factors, work with your group to determine what the progress of the
project is. You can use the Earned Value Worksheet located in Moodle in Unit 12 to assist the
group in the analysis. Please answer the following questions:

How much work should have been accomplished by the end of day 3?

 ¾ = 75% of the work should have been completed by day 3.

 What is the earned value of the work that was accomplished?

o EV = 70% * 4000 = 2800

 At the end of day 3 will you report that the project is on schedule? Why or why not?

o SV = EV – PV = 2800 – 3000 = $ -200 (Negative value implies behind schedule)

 Should you be concerned about your budget?

o CV = EV – AC = 2800 – 3500 = $ -700 (Negative implies over budget, so yes, we should be


concerned)

o CPI = EV/AC = 2800 / 3500 = 0.8

 What will you need in order to complete the project?

o ETC = EAC – AC = (BAC/CPI) – AC = (4000/0.8) – 3500 = $1500

 What are you forecasting the project to cost at the finish date?

o EAC = BAC/CPI = 4000/0.8 = $5000

 What is the variance based on your original budget?

o VAC=BAC – EAC = 4000 – 5000 = -$1000 (Negative implies over budget)

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