Earned Value Calculation Worksheet and Exercise

Earned Value Statistic Actual Cost (AC) Budget at Completion (BAC) Earned Value (EV) Planned Value (PV) Cost Variance (CV) Schedule Variance (SV) Cost Performance Index (CPI) Earned Value Description/Formula How much money has been spent for work that is completed? How much is budgeted for total project? What is the value of the work already performed? (% complete * BAC) What is the value of the work expected to be done? EV - AC EV - PV EV AC Answer to exercise #1 $47,500 $100,000 $40,000 (40% complete) $50,000 (50% complete) -$7,500 (Bad, negative) -$10,000 (Bad Negative) 0.84 (Bad < 1) 0.80 (Bad < 1)

Schedule Performance Index (SPI) EV PV Estimate at Completion (EAC) Use bolded formula! BAC CPI used if no variance has occurred or expect to continue at the same rate as currently: Or AC + ETC used if original estimate was flawed and you developed a new one Or AC + (BAC EV) used when current variances wont be continued into the future Or (AC + (BAC EV)) CPI EAC - AC BAC - EAC

Estimate To Complete (ETC) Variance at Completion

Exercise 1
We are consulting with 10 physician groups across the country. We have budgeted $100,000 ($10K per physician office). The schedule calls for us to visit one physician office per week. At week 5 we have visited 4 physician offices and spent $47,500 to date.

What is cost and schedule performance of our consulting project? Exercise 2:

We are purchasing and installing an EHR. The cost of all components (software, labor, hardware, fees) is budgeted at $84,000 and is expected to take 6 months. Assume that the work and costs are evenly distributed throughout the schedule. At the end of month 3 we have completed 60% of the work and spent $50,000.

What is cost and schedule performance of our EHR project? Exercise 3:

We are implementing a health information exchange. The cost of all components (software, labor, hardware, fees) is budgeted at $6,000,000 and is expected to take 2 years. Assume that the work and costs are evenly distributed throughout the schedule. At the end of month 9 we have completed 20% of the work and spent $2,000,000.

What is cost and schedule performance of our HIE project?