Project Management: Status Report Analysis and Earned Value Evaluation

This project management status report details the progress of a project, providing an overview of the completed activities, milestones, and overall project health. The report, set for a four-week period, indicates that the project is 15% complete, with the problem analysis and programming phases fully accomplished. It highlights the project's adherence to its schedule, with all activities running on time. The report incorporates an Earned Value Analysis (EVA) to assess project performance, including planned value, earned value, and actual cost. The analysis reveals that the project is on schedule and within budget, as indicated by the cost variance (CV) and schedule variance (SV) metrics. The report also includes graphs illustrating the project's earned value over time and concludes that the project is performing well, with CPI indices showing the project is progressing as planned. The report uses MS Project to generate the SV and CV, which helps in evaluating the project's health and performance. The bibliography includes research on earned value analysis and project management.

Running head: PROJECT MANAGEMENT
Project Management
Name of Student-
Name of University-
Author’s Note-

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Date and time of the Status report
The status report of this project is set for four weeks and after setting the status involved
in the project, the project status report states that the project is 15% complete. The project
training documents are to be finished on 29/10/19 and the arrangement of the party is to be
completed on 14/11/2019. These are the following milestones that are to be completed in the
coming days.
The activities that are completed within the four weeks are analysing the problem, and
the programing phase. These two phases are 100 % completed within the 4 weeks of time phase
and only 9% of development of the modules are completed in this specified period of time. There
is no late task in the project and all the activities are running on time as per the schedule of the
project. The below diagram shows the project overview of the status report of the project.
Figure 1: Project Overview
(Source: Created by Author)

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Variance in time and cost
The Earned Value Analysis calculated for this project states the progressing of the project
that is in progress. The EVA is considered as a particular method that is used to measure all
performance that is involved in the project as per its scope, the time included in this project as
well as the cost included in the project. There are certain elements in EVA that includes:
Planned Value: The Cost baseline that is being approved for all the project work.
Earned Value: The EV is the budgeted values that in used for completing the project work.
Actual Cost: This is considered as actual cost that is implemented in the execution phase of the
project till certain period of time.
Cost variance (CV) in project is considered as the different between the Earned values in
the project with actual value included in project.
CV= EV – AC
The schedule variance (SV) of this project is calculated as the gap between earned value
of this project and the planned value of the project.
With the CV and the SV values, efficiency indicators of the project can be calculated that
mainly reflects the cost included in project and the schedule included project. The indicator that
is used as project indicator is the CPI Index.
CPI = EV/AC
For this particular project, the SV and CV are generated from the MS project. The graphs
of the project schedule is shown below.

3PROJECT MANAGEMENT
'19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
$0.70
$0.80
$0.90
$1.00
CV SV
Figure 2: CV and SV of the Project
(Source: From MS Project)
The project CV and SV is shown above in the diagram. The SV is on the base line that
shows the project is on time. The project schedule is on time and all the activities are completed
on time. CV is not negative that states the project is not over budgeted till the status date. With
the status progress report, it can be seen that CV and SV of the project is perfectly correct for
completing the project successfully.

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Consequences for the rest of the project
'19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19 '19
$0.00
$5,000.00
$10,000.00
$15,000.00
$20,000.00
$25,000.00
$30,000.00
ACWP BCWP BCWS
Figure 3: Earned value Over Time
(Source: From MS project)
The graph above shows the earned value in this project. The Earned value of this project
till the status date is $132,590. Actual cost of this project is $25,813.20 which is less than the
earned value. This states the project is not over budget. Planned value of this project is shown as
$25,813.20 which is also less that the earned value. This states that the project is also not behind
the schedule.
Conclusions of Earned Value Analysis
As per the earned values analysis, the performance of the project till 4 weeks is evaluated
and the project earned value is shown in the report above. The EVA of the project summarizes
that the project is running on time along with the project budget schedule fixed for the project.
The MS project file of the project schedule also generates the indices of the project that states

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higher the project indices, the project schedule as well as the project budget is on time. The
project CPI indices of the project shown in the graph also states that the project is idle for the
time status progress considered for the project. This indices are mainly used to measure the
project health as well as the project performance. The EVA is considered particularly as a
technique used for accessing the progress of the project including the tasks that are allocated for
the project schedule. This EVA mainly provides a value scale for all the project tasks.

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Bibliography
Bryde, D., Unterhitzenberger, C., & Joby, R. (2018). Conditions of success for earned value
analysis in projects. International Journal of Project Management, 36(3), 474-484.
Chen, H. L., Chen, W. T., & Lin, Y. L. (2016). Earned value project management: Improving the
predictive power of planned value. International Journal of Project Management, 34(1),
22-29.
Moradi, N., Mousavi, S. M., & Vahdani, B. (2017). An earned value model with risk analysis for
project management under uncertain conditions. Journal of Intelligent & Fuzzy
Systems, 32(1), 97-113.
Rao, P. B., Cherian, J., & Jeremiah, L. (2015). Comparative study of schedule analysis using
earned value and earned schedule methods on two distinct construction projects. Journal
of Construction Engineering, Technology and Management, 5(3), 1-5.