Project Cost Analysis, Performance, and Schedule Analysis Report

This assignment provides a detailed analysis of project costs, schedule, and performance using earned value management (EVM) techniques. The analysis includes the calculation of key metrics such as Schedule Variance (SV), Cost Variance (CV), Schedule Performance Index (SPI), and Cost Performance Index (CPI). The assignment utilizes a case study with a total project budget of £2,10,000 and a planned duration of 12 weeks. Data is analyzed after 6 weeks, calculating the planned value (PV), earned value (EV), and actual cost (AC). The report also estimates the cost at completion (EAC) and the estimated time to complete the project, based on the calculated performance indices. References to relevant literature are included to support the analysis, providing a comprehensive overview of project performance evaluation using EVM.

Solution
Total project Duration = 12 weeks
Total project cost = £ 2,10,000, BAC = £ 2,10,000
Data date = after 6 weeks
Therefore, the Planned Value distribution
1 2 3 4 5 6 7 8 9 10 11 12
PV (weekly) 15000 15000 15000 15000 25000 25000 10000 20000 20000 20000 20000 10000
PV (Cumulative) 15000 30000 45000 60000 85000 110000 120000 140000 160000 180000 200000 210000
Week
After 6 weeks PV = £ 1,10,000
Earned value = cost of A + cost of B = £ 90,000. EV = £ 90,000
The actual cost is given £ 90,000, AC = £ 90,000
Schedule Variance (Jang, 2012) = EV – PV = 90,000 – 1,10,000, SV = -£ 20,000
Cost Variance = EV – AC = 90,000 – 90,000, CV = 0
Schedule performance Index = EV / PV = 90,000 / 1,10,000, SPI = 0.8181
Cost performance index (Bhosekar & Vyas, 2012) = EV / AC = 90,000 / 90,000, CPI = 1
Estimate cost at completion = BAC / CPI = 2,10,000 / 1, Estimate cost at completion =
£ 2,10,000
Estimated time to complete = BAC / SPI = 12 weeks / 0.8181, Estimated time to
complete = 14.67 weeks
References
Bhosekar, S. K. & Vyas, G., 2012. Cost Controlling Using Earned Value Analysis in
Construction Industries. International Journal of Engineering and Innovative Technology
(IJEIT), 1(4), pp. 324-332.

Jang, C. J., 2012. Using Earned Value to Monitor Project Performance. [Online]
Available at: https://www.cardinalsolutions.com/blog/2012/07/using_earned_valuet
[Accessed 24 April 2018].