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Tutorial on Earned Value Management Systems

Dennis J. Frailey

1.0 Overview
1.1 Bac ground
!n t"e midst o# a ty\$ical \$ro%ect& it is o#ten desira'le to estimate suc" (uantities as )"ow muc" time is le#t*+ or )"ow muc" o# t"e wor is com\$lete*+ or )"ow muc" money will t"e \$ro%ect s\$end 'e#ore it is com\$lete*+ !# t"ese remind you o# tri\$s in t"e #amily car w"ere t"e c"ildren are wondering )are we t"ere yet*+& it is not sur\$rising. Just as t"e \$assengers on a tri\$ wonder "ow long it will ta e to get to t"e destination& so managers "ave a res\$onsi'ility to understand "ow long a \$ro%ect will ta e to get to its destination , and w"at it will cost. T"ose wor ing on t"e \$ro%ect usually want to now t"is too. Earned Value Analysis -EV./ is a way to measure t"e amount o# wor actually \$er#ormed on a \$ro%ect -i.e.& to measure its \$rogress/ and to #orecast a \$ro%ect0s cost and date o# com\$letion. T"e met"od relies on a ey measure nown as t"e earned value -also nown as t"e )'udgeted cost o# wor ed \$er#ormed+ or B123/. T"is measure ena'les one to com\$ute \$er#ormance indices #or cost and sc"edule& w"ic" tell "ow well t"e \$ro%ect is doing relative to its original \$lans. T"ese indices also ena'le one to #orecast "ow t"e \$ro%ect will do in t"e #uture. Earned value actually uses t"ree data values& w"ic" are com\$uted eac" wee & mont"& or w"atever ot"er \$eriod you wis" to use. 2e use t"e term )analysis date+ to re#er to t"e date w"en t"e t"ree values are analy4ed. T"us i# we measure t"ese values mont"ly& an analysis date o# Octo'er 51 would include all values #rom \$ro%ect ince\$tion until t"e end o# Octo'er. T"e t"ree values are6 Budgeted 1ost o# 2or 3er#ormed -B123/. Budgeted 1ost o# 2or Sc"eduled -B12S/. .ctual 1ost o# 2or 3er#ormed -.123/.

1.7 De#inition o# t"e T"ree Basic Values

B123 or Budgeted 1ost o# 2or 3er#ormed or Earned Value T"is is t"e cost originally 'udgeted to accom\$lis" t"e wor t"at "as 'een com\$leted as o# t"e analysis date. !t answers t"e (uestion )"ow muc" wor "as actually 'een com\$leted*+. B12S or Budgeted 1ost o# 2or Sc"eduled or Plan T"is is t"e total 'udgeted cost u\$ to t"e analysis date. !t answers t"e (uestion )"ow muc" did we \$lan to s\$end as o# t"is date*+ . variant o# t"is (uestion is )"ow 1

muc" wor s"ould "ave 'een com\$leted 'y t"is date*+ B12S can 'e com\$uted #rom t"e \$ro%ect0s \$lans& as illustrated in t"e se(uel& or it can 'e a\$\$ro8imated 'y multi\$lying t"e total 'udget 'y t"e #raction o# total \$ro%ect duration at t"e analysis date. T"us& #or e8am\$le& i# t"e \$ro%ect 'udget is 9100 and 70: o# t"e \$ro%ect0s time "as ela\$sed& t"e a\$\$ro8imate B12S is 970. .123 or Actual 1ost o# 2or 3er#ormed T"is is w"at it actually cost to accom\$lis" all t"e wor com\$leted as o# t"e analysis date. !t answers t"e (uestion )"ow muc" "ave we actually s\$ent*+. T"is is usually determined #rom t"e organi4ation0s accounting system& or can o#ten 'e a\$\$ro8imated 'y multi\$lying t"e num'er o# \$eo\$le 'y t"e num'er o# "ours or days or wee s wor ed.

1.5 Derived Metrics

Four measures can 'e com\$uted #rom t"e 'asic values descri'ed a'ove6 Sc"edule Variance -SV/ ; B123 , B12S

!# it is 0& you are rig"t on sc"edule. !# it is negative& you are 'e"ind sc"edule. !# it is \$ositive& you area a"ead o# sc"edule. Sc"edule 3er#ormance !nde8 -SPI/ ; B123 < B12S !# it is 1& you are rig"t on sc"edule. !# it is less t"an 1& you are 'e"ind sc"edule. !# it is greater t"an 1& you are a"ead o# sc"edule. 1ost Variance -CV/ ; B123 , .123

!# it is 0& you are rig"t on 'udget. !# it is negative& you are over 'udget. !# it is \$ositive& you area under 'udget. 1ost 3er#ormance !nde8 -CPI/ ; B123 < .123

!# it is 1& you are rig"t on 'udget. !# it is less t"an 1& you are over 'udget. !# it is greater t"an 1& you are under 'udget.

7.0 =sing EV. to Determine 2"ere you .re

7.1 =nits
T"ere are many ways to measure )cost+. For e8am\$le& we could measure actual money s\$ent. >owever it is common in a wor environment to measure cost in terms o# labor , t"at is in wor "ours or wor days s\$ent. T"us t"e 'udget #or a \$ro%ect could 'e 950&000 or it could 'e 500 la'or "ours& and t"e amount s\$ent so #ar could 'e 9?&@00 or it mig"t 'e ?@ la'or "ours. EV. can 'e used wit" any measure o# cost& 'ut it is im\$ortant to decide w"ic" one to use. 2e will use an e8am\$le in dollars in t"is section and an e8am\$le in wor days in t"e se(uel.

7.7 .n E8am\$le using Dollars

2

Su\$\$ose you are ma ing coo ies #or a large \$arty to 'e "eld tomorrow. Su\$\$ose t"e #ollowing are your \$lans6 3lans6 ?0 coo ies \$er 'atc" @ 'atc"es \$er "our -700 coo ies/ Sc"edule6 @ "ours to ma e a total o# 1000 coo ies Budgeted cost \$er coo ie is 90.0@ Total 'udget is 9@0.00 #or coo ie ingredients& or 910 \$er "our

2eAll use earned value to e8amine our \$rogress. 3rogress Be\$ort at End o# >our 16 1@0 edi'le coo ies "ave 'een made -some were 'urnt and "ad to 'e t"rown away/ Total actual cost o# ingredients used so #ar is 9C.00 -.123/

.nalysis6 B12S ; 910.00 B123 ; 9D.@0 -Earned Value/ E1@0 coo ies 8 .0@ \$er coo ieF .123 ; 9C.00 E#rom a'oveF T"ere#ore6 SV ; B123 , B12S ; ,97.@0 -you are 'e"ind sc"edule/ S3! ; B123 < B12S ; 0.D@ -you are running at D@: o# t"e \$lanned sc"edule/ 1V ; B123 , .123 ; 9D.@0 , 9C.00 ; ,91.@0 -you are 91.@0 over 'udget/ 13! ; B123 < .123 ; 0.G55 -you are running over 'udget 'y a'out 1D:/

5.0 =sing EV. to Forecast

5.1 .dditional Terminology and De#initions
Five additional terms will 'e used in #orecasting6 BAC , Budget At Com\$letion ; Total Original Budgeted 1ost T"is is t"e same as B12S at com\$letion EAC - Estimate At Com\$letion = your estimate o# t"e amount o# money you will s\$end on t"e \$ro%ect. T"is is 'ased on your %udgment. IEAC , Inde\$endent Estimate At Com\$letion ; 3ro%ected #inal cost o# t"e \$ro%ect& 'ased on \$er#ormance so #ar. !E.1 can 'e #orecast using t"e #ollowing #ormula6 !E.1 ; B.1 < 13! ISAC , Inde\$endent Sc"edule At Com\$letion ; 3ro%ected duration o# t"e \$ro%ect& 'ased on \$er#ormance so #ar. !S.1 can 'e #orecast using t"e #ollowing #ormula6 !S.1 ; Sc"edule < S3! VAC , Variance At Com\$letion ; Forecast o# #inal cost variance ; B.1 , !E.1 or& i# you \$re#er& V.1 ; B.1 , E.1

5.7 Forecasting t"e 1oo ie Budget and Sc"edule 3

!E.1 ; B.1 < 13! ; 9@0 < 0.G55 ; 9H0 V.1 ; B.1 , !E.1 ; 9@0 , 9H0 ; ,910 -910 over 'udget/ !S.1 ; @ < S3! ; @ < 0.D@ ; H.HD "ours !n ot"er words& you #orecast t"at it will ta e H 7<5 "ours and 9H0 to ma e t"e coo ies& i# your success at ma ing t"em does not im\$rove. Stri\$\$ed o# all t"e ver'iage& imagine someone telling you )at t"e rate you are going& it is going to ta e you all day and it will cost more t"an you 'argained #or.+ EV. ena'les you to say t"at in more \$recise terms. 3er"a\$s #or ma ing coo ies& suc" \$recision is not essential -alt"oug" i# t"e \$rediction was ?? "ours& you would "ave somet"ing to worry a'outI/. But #or running an e8\$ensive \$ro%ect& EV. can 'e very "el\$#ul& even essential.

?.0 1an we 1atc" =\$*

?.1 To,1om\$lete 3er#ormance !nde8
Once we re\$ort t"at our \$ro%ect is 'e"ind sc"edule or over 'udget& t"e ne8t (uestion is usually )can we do somet"ing to get 'ac on trac *+ 1an we meet t"e desired sc"edule and 'udget des\$ite t"e #act t"at we are running 'e"ind* Two indices are com\$uted to "el\$ determine t"is. T"e )To,1om\$lete+ \$er#ormance inde8 is an indication o# "ow we must \$er#orm #or t"e duration o# t"e \$ro%ect in order to meet our desired cost goal. !# T13! is greater t"an 1& we must \$er#orm 'etter t"an \$lanned in order to meet t"e goalJ and i# less t"an 1 we can get 'y wit" \$er#orming under our \$lan. T13! ; -Budget,B123/< -E.1,.123/

w"ere E.1 is t"e amount we estimate we will s\$end. Koo ing closely we see t"at t"e numerator is "ow muc" wor is le#t to do and t"e denominator is "ow muc" we "ave le#t to s\$end. Lote too t"at i# E.1 is sim\$ly !E.1& t"en t"e T13! is t"e same as t"e 13! , i.e.& it indicates t"at i# we do not c"ange our \$er#ormance& !E.1 is t"e correct estimate o# our #inal cost. -E8ercise #or t"e reader6 \$rove mat"ematically t"at i# E.1 ; !E.1 t"en 13! ; T13!./ 2e mentioned two indices. . sc"edule inde8 can also 'e develo\$ed. -T"is is le#t as an e8ercise #or t"e reader/.

?.7 .\$\$lication to t"e 1oo ie E8am\$le

!n t"e coo ie e8am\$le& su\$\$ose we want to #inis" at e8actly t"e 9@0 'udget. T"en T13! ; -@0.00,D.@0/ < -@0.00,C.00/ ; ?7.@0<?1.00 ; 1.05H. T"is means t"at we must \$er#orm at 105.H: o# t"e originally \$lanned \$er#ormance in order to do t"is. !.e.& 5.H: "ig"er \$er#ormance t"an originally \$lanned. T"is may 'e reasona'le 'ecause we were a'le to get t"e #irst 700 coo ies in t"e oven #or only 9C instead o# t"e 'udgeted 910. But i# T13! "ad 'een 1.@& we would now t"at we were in 'udget trou'le unless we can some"ow get our su\$\$lies at a su'stantial discount over t"e \$lanI 4

@.0 =sing EV. on a 3ro%ect

@.1 T"e Micro Sc"edule , !denti#ying t"e Tas s
T"ere are many ways to use EV. on a \$ro%ect& 'ut t"e met"od we will illustrate "ere is one o# t"e easiest and must use#ul. 2e 'egin wit" a micro sc"edule , a sc"edule o# small tas s w"ose duration can 'e measured in days or wee s. Ty\$ically a micro sc"edule a\$\$lies to a \$ortion o# a \$ro%ect and is estimated 'y t"ose doing t"e wor & o#ten %ust 'e#ore t"ey 'egin t"at \$ortion o# t"e \$ro%ect -#igure 1/.

Top Level Schedule

Phase 1 - Design Phase 2 - Code Phase 3 - Shakedown

Micro Schedule for the Next Phase

Micro Schedule is the locallymanaged schedule, defined by those doing the work

Figure 1 , EV. Micro Sc"edule T"e micro sc"edule re\$resents t"e wor tas s -Minc"stonesM/ re(uired to do t"e %o' as well as w"o is assigned to do eac" tas and t"eir estimates o# t"e e##ort re(uired. Eac" tas must "ave objective completion criteria so you really now w"en t"ey are doneJ "budgets" or "values" (usually represented as person days of effort or dollars of cost) J planned completion dates so you now w"en you e8\$ect t"em to 'e done. Ta'le 1 illustrates a ty\$ical micro sc"edule6

Ta'le 1 , Micro Sc"edule #or 1oding 3"ase& 3ro%ect NNN Estimated Bes\$onsi'le E##ort 3lanned 1om\$letion Date So#tware Tas -wor days/ -wee O/ Develo\$er-s/ Set =\$ 5 1 Joe Pet S\$ecs 7 7 Mary Design Out\$ut 10 @ 3ete Q Joe 3lan Tests 5 H Joe 2rite 1ode @ D Mary =nit Test 5 G Joe !ntegrate 7 C Mary Beta Test 5 10 3ete TOT.K 51 -T"e a\$\$roac" illustrated a'ove relies on t"e %udgment o# t"e \$artici\$ants 'ut i# t"e organi4ation is at SE! 1MM level 1 or 7& it may not utili4e any in#ormation #rom \$ast \$ro%ects ot"er t"an t"e e8\$erience o# t"e \$artici\$ants. !n an organi4ation at 1MM level 5& t"e micro sc"edule mig"t 'e de#ined 'y using t"e organi4ationAs -tailored/ \$rocess. .t level ? or "ig"er& it mig"t 'e de#ined 'y using t"e \$rocess& t"e %udgment o# t"e \$artici\$ants& and \$ast \$er#ormance data./

@.7 1om\$uting t"e E##ort 3lanned -B12S/

T"e e##ort \$lanned is determined 'y calculating& #rom t"e micro sc"edule& "ow muc" wor will 'e com\$leted 'y t"e end o# eac" wee . Ta'le 7 illustrates a ty\$ical B12S c"art. Ta'le 7 , B12S #or 1oding 3"ase& 3ro%ect NNN S"ort"and B12S Total Value t"at we 3lan to Earn 'y T"at 2ee -Total<wee O/ 5 5 @ H D -R/ C 11 -R/ 17 1@ 1@ 1G 1C 75 77 7H 7@ 7G 7G 51 51 -R/ .ssumes \$artial \$rogress on )design out\$ut+ tas

2ee 1 7 5 ? @ H D G C 10

@.5 1ollecting Earned Value Eac" 2ee

Eac" wee during t"e \$ro%ect& t"e team needs to indicate& at t"e end o# t"e wee & w"ic" tas s are com\$lete and& t"ere#ore& "ow muc" value "as 'een earned. T"e e8am\$le s"own in Ta'le 5 gives \$artial credit #or some tas s. !t is recommended t"at \$artial credit only 'e allowed #or larger tas s and t"en only in large c"un s - S & 1<5 & or may'e T/. Ta'le 5 , Earned Value Data& 2ee ending Oct 7C& 1CCC& 3ro%ect NNN 6

Tas Set =\$ Pet S\$ecs Design Out\$ut 3lan Tests 2rite 1ode =nit Test !ntegrate Beta Test TOT.K

E##ort -value/ -wor days/ 5 7 10 5 @ 5 7 5 51

: 1om\$lete 100 @0 7@ 0 0 0 0 0

Earned 5 1 7.@ 0 0 0 0 0 H.@ -B123/

B123 or earned value is t"e total o# t"e )earned+ column on t"e rig"t "and side. Ta'le 5 is recom\$uted eac" wee & w"ereas ta'les 1 and 7 need only 'e done once. B123 will increase eac" wee as t"e \$ro%ect \$rogresses. .t any given wee & you "ave t"e B12S #rom ta'le 7 and t"e B123 #rom ta'le 5. .123 is w"atever num'er o# \$erson,days o# wor "ave actually 'een \$aid #or. T"is is sim\$ly t"e wee num'er multi\$lied 'y @ -total days wor ed/ multi\$lied 'y t"e num'er o# \$eo\$le& i# everyone wor s #ull time on %ust t"is \$ro%ect. !# \$eo\$le s"are t"eir time 'etween \$ro%ects or wor on non,\$ro%ect activities& t"eir )actual+ wor "ours s\$ent on t"e \$ro%ect must 'e determined \$ro\$ortionally.

@.? .naly4ing t"e Sam\$le 3ro%ect

Su\$\$ose ta'le 5 re\$resents t"e results at t"e end o# wee 5 on t"e sam\$le \$ro%ect. Su\$\$ose t"e sta## did not wor 100: on t"is \$ro%ect& so t"at only a total o# 10 wor days "ave actually 'een s\$ent on t"e \$ro%ect. T"en6 B12S ; D wor days -#rom ta'le 7/ B123 ; H.@ wor days -#rom ta'le 5/ .123 ; 10 wor days -#rom \$aragra\$" a'ove/ T"en6 SV ; B123 , B12S ; ,.@0 -you are 'e"ind sc"edule/ S3! ; B123 < B12S ; 0.C7G -you are running at a'out C5: o# t"e \$lanned sc"edule/ 1V ; B123 , .123 ; H.@ , 10 ; ,5.@0 -you are 5.@ sta## days over 'udget/ 13! ; B123 < .123 ; 0.H@ -you are running over 'udget 'y a'out 5@:/ Forecasts6 !E.1 ; B.1 < 13! ; 51<0.H@ ; ?D.D wor days V.1 ; B.1 , !E.1 ; 51 , ?G ; ,1D -1D wor days over 'udget/ !S.1 ; 10 < S3! ; 10 < 0.C7G ; 10.D wor wee s !n s"ort& your \$ro%ect loo s li e it will come in a'out a wee late and 5@: over 'udget. 2"at s"ould you do now* .t t"is \$oint& t"ings loo \$retty dismal #or meeting t"e cost 'udget. Uou need to as yoursel# t"ese (uestions6 2"y is it ta ing more e##ort t"an \$lanned* Did t"ey underestimate t"e %o'* 7

.re t"ey losing too muc" \$roductivity 'ecause t"ey are 'eing s"ared 'etween t"is \$ro%ect and somet"ing else* 2ere t"ere un#orseen o'stacles and& i# so& "ave t"ey 'een corrected* !s t"ere some ot"er reason* 2as wor \$er#ormed on ot"er tas s& 'ut not enoug" to claim \$artial credit yet on ta'le 5* May'e t"ings aren0t (uite as 'ad as t"ey loo

T"e ey \$oint "ere is t"at EV. ena'les you to s\$ot a \$otential \$ro'lem early in t"e \$ro%ect and do somet"ing to correct t"e situation. Uou can also re,estimate t"e total \$ro%ect duration and cost at t"is \$oint& or negotiate c"anges in t"e \$ro%ect wit" your management. H.0 . 3ro'lem wit" S3! H.1 T"e 3ro'lem !# a \$ro%ect runs longer t"an originally sc"eduled& cost estimating \$ortions o# EV. continue to 'e use#ul 'ut t"e sc"edule estimation \$ortions 'egin to #ail ,, t"e de#initions o# SV& S3!& and S.1 do not wor as descri'ed a'ove. !nstead& t"ey 'egin to converge toward Mon sc"eduleM values and& w"en t"e \$ro%ect is com\$lete& t"ey s"ow values o# S3! ; 1& SV ; 0& and S.1 ; w"atever t"e actual sc"edule turns out to 'e. T"is #law in earned value analysis results #rom t"e #act t"at t"e sc"edule estimates are 'ased on 'udgets rat"er t"an inde\$endent evaluations o# t"e sc"edule. H.7 3ossi'le Solutions One o\$tion is to use t"e values o# SV& S3!& and S.1 only until t"e originally sc"eduled com\$letion date and not use t"em a#terwards. T"is o\$tion is sim\$le and it wor s well in many cases w"en t"e main concern is 'udget overruns rat"er t"an sc"edule overruns& or w"en t"e sc"edule overruns are not very large. .not"er o\$tion is to re,estimate t"e sc"edule and 'ase all #uture calculations on t"is new sc"edule. -!n e##ect& t"is is w"at automatically "a\$\$ens wit" EV. ,, in t"e end& t"e new sc"edule is w"atever t"e actual sc"edule "a\$\$ens to 'e./ O# course wit" t"is a\$\$roac" you never "ave a very good met"od o# \$redicting "ow muc" t"e sc"edule overrun will 'e. . t"ird o\$tion is to develo\$ a new inde8& D3! or Delivery 3er#ormance !nde8& as an alternative to S3!. D3! is 'ased on t"e original com\$letion sc"edules o# t"e individual wor tas s. T"e s\$eci#ic terms and #ormulas are as #ollows6 Actual Time - t"e time actually s\$ent so #ar& in calendar days. Days Ahead , "ow many days a"ead o# sc"edule you are -negative i# 'e"ind sc"edule/. T"is can 'e derived #rom t"e original sc"edules o# t"e individual wor tas s. DPI , delivery \$er#ormance inde86 D3! ; -.ctual Time V Days ."ead/ < .ctual Time

T"is is "arder to do and many accounting systems do not "ave a mec"anism #or ee\$ing trac o# t"e necessary in#ormation. Furt"er de#inition can 'e #ound in ->udec& 1CCH/ in t"e re#erences. 2or ing out "ow to use D3! instead o# S3! is a good e8ercise #or t"e reader. D.0 Be#erences Bent& James . -1CG7/. .\$\$lied 1ost and Sc"edule 1ontrol. Lew Uor & LU6 Marcel De er& !nc. Brandon& Daniel M. -1CCG& June / M!m\$lementing Earned Value Easily and E##ectively.M 3ro%ect Management Journal. Vol 7C. Lum'er 7. 1"ristensen& David S. 1om\$re"ensive Bi'liogra\$"y o# Earned Value Kiterature. "tt\$6<<www.uw#.edu<Wdc"riste<ev,'i'."tm >oran& Bon and Don McLic"ols -1CC0& Se\$tem'er/. M3ro%ect Management #or Karge Scale Systems.M Business 1ommunications Beview 7061C7?. >udec& Jim& Payla Suddart"& et. al& )E8\$eriences in !m\$lementing Xuantitative 3rocess Management&+ 3roceedings o# t"e SE! So#tware Engineering 3rocess Prou\$ 1on#erence& May 1CCH. Ma"ler& Fred and Mar Ma4ina -1CG7& Fe'ruary/. MEarned Value Be\$orting Earns !ts Yee\$.M 1ost Engineering 7?615,1D. Lic"ols& Jo"n M -1CC0/. M3ro%ect 1ontrol.M 1"a\$ter 1@ o# Managing Business and Engineering 3ro%ects. Englewood 1li##s& LJ6 3rentice >all. Liemann& 2illiam J -1CG7& May,June/. M!# t"e 3"arao" "ad Only =sed an Earned Value System in Building t"e 3yramids.M 3rogram Manager 1161@. Bus in& .rnold M -1CC@& Se\$tem'er/. MMeasuring 3ro%ect 3er#ormance6 .cce\$ta'ly Small !nc",\$e''les.M Engineering Management Journal D6@,10.

.\$\$endi8 , .n Earned Value E8ercise Objective T"e o'%ective o# t"is e8ercise is to com\$ute earned value metrics and use t"em to evaluate a \$ro%ect. Bac!"r#und Bead t"e Tutorial on Earned Value Management Systems t"at accom\$anies t"is e8ercise. 1onsider t"e \$ro%ect descri'ed in section @ o# t"e tutorial. Su\$\$ose t"e ta'le on t"e ne8t \$age is an u\$dated version o# ta'le 56 -note t"at .123 is s"own at t"e 'ottom/ Tas! \$ Fill in t"e values #or B123& SV& S3!& 1V& 13!& !E.1& V.1& S.1 and T13! #or eac" o# wee s 1,H -use t"e s\$ace \$rovided in t"e s"aded \$ortion o# t"e ta'le/. Tas! % On t"e last \$age o# t"is e8ercise& draw a line gra\$" o# B12S& B123& and .123 #or eac" wee . !.e.& t"e "ori4ontal a8is is wee & starting at 0 and going to 17& and t"e vertical values are in units o# wor days. T"ere will 'e t"ree linesJ B12S& B123& and .123. E8tend B12S to wee 10 to s"ow t"e original \$lan #or com\$leting t"e 51 units o# wor . Tas! & 1onsidering t"ese metrics and gra\$"s& indicate w"et"er t"e \$ro%ect is a"ead o# or 'e"ind sc"edule and over or under 'udget& as o# wee H& and indicate w"at you 'elieve t"e #inal cost and sc"edule will 'e. 3ut t"ose answers "ere6 The 'r#ject is __________________ schedule and _________________ bud"et (inal C#st is 'r#jected t# be __________________________________ because (explain why here)

(inal Schedule is 'r#jected t# be __________________________________ because (explain why here)

Deliverable . co\$y o# t"is e8ercise in w"ic" you "ave #illed in t"e answers to t"e various (uestions t"at are \$osed in t"e tas s a'ove and t"e ta'le and s\$ace 'elow. 3ut t"e answers e8actly w"ere indicated a'ove.

ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ Tutorial on Earned Value Management 3age 10 1o\$yrig"t [ 1CCC,7001& Dennis J. Frailey& .ll Big"ts Beserved

Tas Set =\$ Pet S\$ecs Design Out\$ut 3lan Tests 2rite 1ode =nit Test !ntegrate Beta Test TOT.K B12S B123 .123 SV S3! 1V 13! B.1 !E.1 V.1 S.1 T13!

E##ort -value/ -wor days/ 5 7 10 5 @ 5 7 5 51

Ta'le , Earned Value Data& 3ro%ect NNN : 1om\$lete 2ee 1 @0 7@ 0 0 0 0 0 0 2ee 7 100 @0 0 0 0 0 0 0 2ee 5 100 @0 7@ 0 0 0 0 0 2ee ? 100 100 @0 7@ 0 0 0 0 2ee @ 100 100 D@ 7@ 7@ 0 0 0 2ee H 100 100 100 @0 @0 0 0 0

11

1@

1G

10

1@

1G

77

51

51

51

51

51

51

ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ Tutorial on Earned Value Management 3age 11 1o\$yrig"t [ 1CCC,7001& Dennis J. Frailey& .ll Big"ts Beserved

(use the space below to draw the graph mentioned in task 2)

ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ Tutorial on Earned Value Management 3age 17 1o\$yrig"t [ 1CCC,7001& Dennis J. Frailey& .ll Big"ts Beserved