EVM Question - PV is not given....

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bhuvanpanwar1983
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EVM Question - PV is not given....

Postby bhuvanpanwar1983 Mon Aug 24, 2015 4:54 pm

You have completed 3 months in to the project, 40% work is completed and actual cost is 350K, BAC of the project is 950K - please advise what does that tell the project manager....

is the schedule behind and over budget
is it over scheduled and over budget
it is under scheduled and under budget
or its on schedule and on budget
coolpmp69
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Re: EVM Question - PV is not given....

Postby coolpmp69 Mon Aug 24, 2015 5:41 pm

What is the total project duration?

Based on the given info
EV= 0.40 *950,000 = 380,000
CPI= EV/AC= 350,000/380,000 = 0.92 <1
SPI= EV/PV= 350,000/950, 000=0.40 <1 ("The total planned value for the project is also known as budget at completion (BAC) "- PMBOK page 218)

So the answer "is the schedule behind and over budget"
Last edited by coolpmp69 on Mon Aug 24, 2015 5:51 pm, edited 2 times in total.
celina
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Re: EVM Question - PV is not given....

Postby celina Mon Aug 24, 2015 5:42 pm

Try with the formula - BAC\CPI
coolpmp69
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Re: EVM Question - PV is not given....

Postby coolpmp69 Mon Aug 24, 2015 5:46 pm

@Celina- BAC\CPI would give you EAC. I am not sure how this is going to help ..
celina
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Re: EVM Question - PV is not given....

Postby celina Mon Aug 24, 2015 6:23 pm

think I should go back to my basics - really forgetting the basics :-|
AM1969
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Re: EVM Question - PV is not given....

Postby AM1969 Tue Aug 25, 2015 4:33 pm

Hello! coolpmp
I think by mistake you reversed the value of EV/AC
CPI= EV/AC= 380K/350K.....>1...Project is under budget.

Now the planning value cannot be 950 k as the project is 3 months old ....total duration not given.

There is only one option that says project is " under budget" so that should be the answer...
Option C---project is under schedule and under budget
Last edited by AM1969 on Tue Aug 25, 2015 4:36 pm, edited 1 time in total.
bhuvanpanwar1983
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Re: EVM Question - PV is not given....

Postby bhuvanpanwar1983 Tue Aug 25, 2015 4:34 pm

okay , so I can assume BAC as PV if not given in the question, like i stated before, PV is approved or allocated to task or milestones and if u sum all of these it becomes BAC.
Thanks Cool bro..
whats your name?
bhuvanpanwar1983
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Re: EVM Question - PV is not given....

Postby bhuvanpanwar1983 Tue Aug 25, 2015 4:35 pm

Total Duration of this project is 9 months...sorry i missed on the first place
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Re: EVM Question - PV is not given....

Postby bhuvanpanwar1983 Tue Aug 25, 2015 4:41 pm

The project in this case is under budget and over schedule....

PV = 950000/9 *3 = 316,666
CPI = 380000 (EV)/350000 (AC) = 1.09
SPI = 380000 (EV) /316666 (PV) = 1.2
AM1969
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Re: EVM Question - PV is not given....

Postby AM1969 Tue Aug 25, 2015 4:44 pm

we just got the new input that total duration of project is 9 months..
so SPI= EV/PV= 380k/316.6 k....>1

So CPI and SPI >1

The options posted do not have the correct answer.
The answer should be " project is under budget and ahead of schedule"
coolpmp69
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Re: EVM Question - PV is not given....

Postby coolpmp69 Tue Aug 25, 2015 5:33 pm

@ AM1969 : Thanks for catching that !!

After knowing the total project duration, I agree the answer should be " project is under budget and ahead of schedule"
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Re: EVM Question - PV is not given....

Postby bhuvanpanwar1983 Wed Aug 26, 2015 6:06 pm

sorry guys - yea its ahead of schedule...

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