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Problem 1 .
Summary of the facts: at the end of the 5th month of a project, the measurement of the cost performance is as follows:

Planned Value: 500K
Actual cost: 550K
Earned Value: 700K

Please calculate: Cost Variance, Schedule Variance, CPI and SPI.
How is the project doing? What should the project manager be reporting in terms of budget and schedule?

Problem 2 . (To solve this problem, please read through text book A Guide to the Project Management Body of Knowledge: PMBOK(R) Guide, (5th Edition) Pg. 220 - 221)

Summary of the facts:

Original cost (BAC): $500,000
Original Project Schedule: 6 months
Planned Value: $120,000 at 3 months
Actual Cost: $90,000
Earned Value: $100,000

Please calculate: Cost Variance, Schedule Variance, CPI, SPI and EAC. Please use all three methods listed in the text book. How is the project doing? Over or under budget? What should the project manager be reporting in terms of budget?

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1. During the fifth week of the project, it can be said that it is doing well. A positive cost variance means that we are incurring lower costs than had been planned. The project is under budget and has been utilizing lower levels of resources than was expected...
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