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6. Your project is expected to run for three consecutive years. Your organization is introducing earned value management as p

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Solution:

We need to determine four critical terms: BAC, PV, AC , and EV.

BAC is the project budget Php 50,000

PV is the measure of how much work should be complete.From the question, we can say that we 18 months into a project . This means half of the work should be complete.

So PV=0.5 X Php 50,000 =25,000

Then AC is a measure of how much money has been spent to date.From the question, we can say that 30%of the budget has been spent.

So AC=0.3 X Php 50,000 =15,0000

EV is the measure of how much work has been completed.We have 40% of work complete,

EV=0.4 X Php 50,000 =20,000

Therefore Schedule Variance, SV = EV-PV

SV=20,000 - 25,000

SV= - 5,000 which means that project is behind schedule since SV negative.

Cost Variance, CV=EV- AC

CV=20,000 - 15,000

CV= Php 5000

Since CV is positive the project is running under budget.

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