Civil Engineering Reference
In-Depth Information
what it actually cost the contractor). This is called the
earned value (EV),
or
budgeted cost for work performed
(
BCWP
).
However, the contractor's actual cost was $6,800. This is called
actual
cost for work performed
(
ACWP
).
Cost Variance
(
CV
)=
BCWP
−
ACWP
=
6
,
400
−
6
,
800
=−
$400
Schedule variance
(
SV
)=
BCWP
−
BCWS
=
6
,
400
−
5
,
333
=
$1
,
067
Schedule variance
in days
(
SV
,
days
)=
SV
(
$
)∕
Daily planned budget
=
$1
,
067
∕
$266
.
67
=
4days
Cost performance index
(
CPI
)=
BCWP
∕
ACWP
=
6
,
400
∕
6
,
800
=
0
.
94
Schedule performance index
(
SPI
)=
BCWP
∕
BCWS
=
6
,
400
∕
5
,
333
=
1
.
20
Forecasted cost variance
(
FCV
)=
CV
∕%
Complete
=
$400
∕
26
.
7
%
=−
$1
,
500
Forecasted schedule variance
(
FSV
)=
SV
∕%
Complete
=
4
∕
26
.
7
%=
15 days
The results are tabulated as follows:
Activity
Doghouses
TOTALBUDGET($)
24,000
% COMPLETE
26.7
ACWP ($)
6,800
BCWP ($)
6,400
BCWS ($)
5,333
CV ($)
400
SV ($)
1,067
SV (DAYS)
4
CPI
0.94
SPI
1.20
FCV ($)
1,500
FSV (DAYS)
15
From simple observation, we can tell the following:
The project is 26.7% complete.
The project is ahead of schedule by 4 days (planned to finish 6.67 units
in 20 days but finished 8 units).
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