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To illustrate the concept of EVM and all the formulas, assume a project that has exactly one task. The task was baselined at 8 hours, but 11 hours have been spent and the estimate to complete is 1 additional hour. The task would have been completed already. Assume an Hourly Rate of $100 per hour. Using this information: Hourly Rate = $100 PV or BCWS = Hourly Rate * Total Hours Planned or Scheduled PV = $800 ($100 * 8 hours) AC or ACWP = Hourly Rate * Total Hours Spent AC = $1100 ($100 * 11 hours) EV or BCWP = Baselined Cost * % Complete Actual EV = $734 (baseline of $800 * 91.7% complete) (NOTE % Complete Actual (below) to get the 91.7% ) BAC = Baselined Effort-hours * Hourly Rate BAC = $800 (8 hours * $100) EAC = AC + ETC EAC = $1200 (1100 + 100) VAC = BAC - EAC VAC = -$400 ($800 - $1200 ) % Completed Planned = PV / BAC % Complete Planned = 100% ($800 PV / $800 BAC) % Completed Actual = AC / EAC % Complete Actual = 91.7% ($1100 AC / $1200 EAC) SV = Earned Value (EV) - Planned Value (PV) SV = -$66 ($734 EV - $800 PV) SPI = Earned Value (EV) /Planned Value (PV) SPI = 0.91 ($734 EV / $800 PV) CV = Earned Value (EV) - Actual Cost (AC) CV = -$366 ($734 EV - $1100 AC) indicating a cost overrun CPI = Earned Value (EV) /Actual Cost (AC) CPI = 0.66 ($734 EV / $1100 AC) indicating over budget |
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