You will need to determine a Project Performance Analysis OR
CV/SV Calculations
Review case study 13.1 (Page 293) and provide your
answers for the calculations only.
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294 Section 4 Eamed Value calculate the items listed above. Note 1: Reference the Earned Value Analysis Formulas section in Section 6 for details on how to Note 2: Where multiple formulas are provided to calculate a data element, select what you can to be the most likely outcome or most accurate indicator and be prepared to support your selection Note 3: Even when the integrated Program Management Data and Analysis Report (IPMDAR) da Item Description (DID) is placed on a contract, the IPMR formats are often used to analyze the wo ect data before the IPMDAR Contract Performance Dataset (CPD) is submitted electronically to te customer. The two DIDs have similar data requirements. In addition: etc.)? Cost Plus, Time and Materials, or Firm Fixed Price? 1. Based on the IPMR data, what type of subcontract is used for the materials (cement, steel Tous 2. Where multiple formulas are provided to calculate a data element, select what you consider to be the most likely outcome or most accurate indicator and be prepared to support your selection 3. Using the IMPR for month 7 and the IPMR DID extract, be prepared to discuss the contractor's best, worst, and most likely estimated cost at completion. Use your analysis to support your o sition Highway IPMR Progress Months 1 Through 7 (In millions of Dollars) Cum to Date Earned Value Current Earned Value Average Earned Budget Value Actuals Month Actuals Budget Budget 1.0 1.0 2.5 1.0 1.0 2.5 1 1.0 2.5 2.5 2.5 1.3 1.5 5.0 2.5 1.5 2.5 2 1.5 2.5 4.5 4.75 3 2.5 2.25 7,5 2.0 + 1.5 2.5 4 1.5 1.25 10.0 2.5 6.0 6.0 1.5 5 2.5 1.5 1.75 12.5 7.5 2.5 7.75 1.6 6 2.5 2.0 2.25 15.0 9.5 10.0 2.5 7 2.5 4.0 1.93 4.5 17.5 13.5 14.5 2.5 Budget at Completion = $30M Estimate at Completion = $30.5M Estimated Completion Date = Month 15 (3 months late) Note: Budget is based on a plan of 5 miles per month at $500,000 per mile 5 miles x $500,000 per mile = $2,500,000 (Budget) Status is based on the number of miles completed times the budget value of $500,000 per mile. Example: In month seven, 8 miles were completed. 8 miles x $500,000 per mile = $4,000,000 (Earned Value)
a. Name CALTRANS 20 b. Phase RDT&E Classification when I Integrated Program Management Report Format 1 - Work Breakdown Structure Thousands Dollars in 1. Contractor 2. Contract 3. Program 4. Report Period a. Name Wippity Blpp Construction Co. a a. Name Highway 73 Extension a. From (YYYYIMMDD) b. Location (Address & zip Codo) b. Number XX-0763 1 Briarpatch Lane Thumperville, CA 90633 с. Туре d. Share Ratio C. EVMS Acceptance b. To (YYYY/MM/DD) CPFF NA No (Yes (2001/05/06) Month 7 6. Contract Data a. Quantity b. Negotiated Cost c. Est. Cost of Auth. d. Target Profit/Fee e. Target Price f. Estimated Price g. Contract Ceiling h. Estimated Contract 1. Date of OTBIOTS Unpriced Work Celling $30,000 0 $3,000 $33,000 $33,500 N/A N/A (YYYY/MM/DD) 6. Estimated cost at Completion 7. Authorized Contractor Representative Management Entimate Contract Budget Base Varlance a. Name (Last, First, Middle Initial) b. Title at Completion (1) Program Manager (2) (3) Quick, I.M. 2. Best Case 30.000 c. Signature d. Date Signed b. Worst Case 36,000 (YYYY/MM/DD) I.M. Quick c. Most Likely 30.500 30.000 -500 Month 8, 10h B. Performance Data Current Period Cumulative To Date Item Reprogramming Budgeted Cost At Completion Varlance Actual Adjustments Budgeted Cost Varlance Actual Work Work Cost Work Work Cost Work Cost Scheduled Performed Performed Schedule Cost Scheduled Performed Performed Schedule Cost Variance Variance Budget Budgeted Estimated Variance (1) (2) (3) (4) (5) (8) (8) (9) (10) (11) (120) (126) (13) (14) (15) (16) a. WBS Program Mgmt./ Support 160 160 110 0 50 1,150 1,150 650 0 500 1,950 1,360 600 Excavation Baso 660 1,000 1,226 350 -225 4,500 3,200 -1,300 -527 8,000 8,403 -403 Hauling 340 600 826 260 -226 2,100 963 1,713 -1,137 -750 3,600 4,190 -590 Materials 850 1,390 1,390 640 0 0 6,125 5,326 5,326 -800 0 10,500 10,500 0 Testing/Inspection 67 157 170 90 -13 592 622 572 -70 -50 750 770 -20 b. Cost of Money 0 0 0 0 0 0 0 0 0 0 0 0 0 c. Gen. & Admin. 433 693 780 260 -871 3,033 2,340 2,613 -693 -173 5,200 6,287 -87 d. Undistributed Budget e. Subtotal (Performance Measurement Baseline) 2,600 4,000 4,500 1,500 -500 17,500 13,500 14,500 4,000 -1,000 30,000 30,500 -500 1. Management Reserve 9. TOTAL 2,600 9. Reconciliation To Contract Budget Baso 4,000 4,500 1,500 -5001 17,500 13,500 14,500 4,000 -1.000 30,000 a. Variance Adjustment 6. Total contract Variance Worked Schedule 3,727
EARNED VALUE ANALYSIS FORMULAS Refer to Chapter 13 for explanations of these formulas. variances Cost Variance (CV) = EV-AC = BCWP - ACWP cv> 0 is favorable (underrun) CV <0 is unfavorable (overrun) Schedule Variance (SV) = EV - PV = BCWP - BCWS SV > O is favorable (ahead of schedule) SV <0 is unfavorable (behind schedule) Variance at Completion (VAC) = BAC - EAC VAC >O is an underrun VAC <0 is an overrun Variance Percentages CV x 100 = EV CV BCWP X 100 Cost Variance % = Schedule Variance % = SV SV x 100 = PV X 100 BCWS Variance at Completion % = VAC BAC X 100 Labor Variances Rate Variance = (EV Rate - AC Rate) X AC Hours = (BCWP Rate - ACWP Rate) X ACWP Hours Efficiency Variance* = (EV Hours - AC Hours) « EV Rate = (BCWP Hours - ACWP Hours) x BCWP Rate * Efficiency Variance is sometimes called the Volume Variance. Budget/Earned Rate = EV Labor Dollars EV Hours BCWP Labor Dollars BCWP Hours Actual Rate = AC Labor Dollars AC Hours ACWP Labor Dollars ACWP Hours ETC Rate = ETC Labor Dollars EV Hours
Material Variances Price Variance = (EV Unit Price - AC Unit Price) x AC Quantity = (BCWP Unit Price - ACWP Unit Price) x ACWP Quantity Usage Variance = (EV Quantity - AC Quantity) « EV Unit Price = (BCWP Quantity - ACWP Quantity) x BCWP Unit Price Overhead Variances Rate Variance = (EV Rate - AC Rate) X AC Hours = (BCWP Rate - ACWP Rate) X ACWP Hours Volume Variance* = (EV Hours - AC Hours) EV Rate = (BCWP Hours - ACWP Hours) x BCWP Rate * Volume Variance is sometimes called the business) Base Variance. = Cost Performance Indices There are two general concepts for cost: efficiency and productivity. Either can apply to current data, cumulative data, or some increment in between, such as the last three months or the last six months. Under the efficiency concept, the purpose of the Cost Performance Index (CPIE) is to indicate the efficien- cy with which work has been accomplished. EV BCWP CPIE = AC ACWP CPIE > 1.0 is favorable CPIE < 1.0 is unfavorable The formula for the productivity CPl is merely the inverse of the one shown above. AC ACWP CPIP = EV BCWP CPlp < 1.0 is favorable CPlp > 1.0 is unfavorable = To Complete Performance Index (TCPI) The TCPI is the forecasted cost performance to achieve the EAC. BAC - EV cum PVR TCPIEAC = EAC - ACcum ETC or TCPIEAC = BAC - BCWP cum EAC-ACWP cum BCWR cum ETCcum Schedule Performance Index There is also a performance index for schedule which compares how much work has been accomplished against how much work had been planned to be accomplished.
Formulas 377 SPI = EV BCWP PV BCWS SPI > 1.0 is favorable SPI < 1.0 is unfavorable Schedule Variance in Months Tivo frequently used formulas are as follows: SV on 1. SV (Months) BCWP Monthly Average) SV cum EV (Monthly Average) SV cum PV (Monthly Average) Monthly average can be the cumulative monthly average, current month, or a recent month average SV cum 2. SV (Months) = BCWS(Monthly Average) (e.g., last 3 month average). Percent Complete, Percent Planned, and Percent Spent EV cum BCWP cum x 100 = Percent Complete = BAC x 100 BAC PV cum BCWScum Percent Planned = X 100 = BAC x 100 BAC ACcum ACWP cum Percent Spent = x 100 = x 100 EAC EAC Planned Value Remaining (PVR)/Budgeted Cost of Work Remaining (BCWR) PVR = BAC - EVcum = BCWR = BAC - BCWP cum Management Reserve (MR) Percent of PVR/BCWR Management Reserve Percent of PVR/BCWR = MR MR x 100 = x 100 PVR BCWR Estimate at Completion (EAC) EAC = ACcum + ETC = ACWP cum + ETC | ACWP + cum Independent Estimate at Completion (IEAC) 1. CP cum Method BAC - BCWP cum BAC - EV cum IEAC = ACcum + (EV cum / ACcum) (BCWP cum / ACWP cum) Since earned value divided by actual cost is the CPle and the calculation assumes the same performance in the future as in the past, the calculation can be simplified to: BAC CPIE IEAC =
378 Section 6 Conclusion and References 2. Weighted CPI and SPI Method BAC - IEAC = + = (accum + (80% x CPLE+ (20% x SPI) 17/=/AC = ACWP cum BAC-BCWP cum (80% x CPIE) + (20% x SPI) Other weighing can be used as long as it adds up to 100%. 3. CPI times SPI Composite Method (BAC - EV cum) (BAC - BCWP cum) IEAC = ACcum + ACWP cum + (CPIE X SPI) (CPIE X SPI) 4. Basic Method IEAC = ACcum + (BAC - EV cum) = ACWP cum +(BAC - BCWP cum) - LACO 1)=( Independent Estimated Completion Date (IECD) In calculating an Estimate at Completion (EAC), the date on which it is believed that the work will be com- pleted, must also be estimated. There are several methods available to calculate the number of months required to complete the work remaining. The calculation may be based on: The current budget value, An average budget value, The current earned value, An average earned value. The Estimated Completion Date, sometimes called the Forecast Completion Date (FCD), is determined by adding the estimated number of months required to complete the remaining work to the time now date. Independent Estimated Completion Date (IECD) = Time Now (in months) + Months to Complete BAC - BCWP cum 1. IECD = Time Now (months) + PV cur BAC - EV cum BCWScur 2. IECD = Time Now (months) + BAC - EV cum PVavg BAC - BCWP cum BCWS avg BAC - EV cum 3. IECD = Time Now (months) + BAC - BCWP cum EV cur BCWP cur BAC - EV cum 4. IECD = Time Now (months) + EVavg BAC - BCWP cum BCWPavg Performance to Date vs. Estimated Completion Dates (ECD) EV cum Performance to Date (average) = Months to Date Months to Date BCWP cum Performance Required (average) = BAC - EV cum ECD - Months to Date BAC - BCWP cum ECD-Months to Date