Develop a network schedule for your project using either the arrow diagramming method or the precedence method. Also, your project schedule should illustrate float/slack for each activity. Table 1.1. Project Tasks details Activity Predecessor Anticipated Resources Added Resources Duration Early start date A (Retirement and social security benefits) None $126 $50 One year 1/1/2019 B (Audit & risk evaluation) A $118 $25 11 months 2/1/2019 C (Equipment Maintenance) B $121 $30 8 months 2/1/2019 D (Training & Development) A, B $109 $25 One year 1/2/2019 E (Logistics, appraisals & rewards) D, C $118 $30 One year 1/2/2019 Precedence Diagramming Method: ES Duration EF Activity Legend LS Float/slack LF LS= Late start Dependency LF= Late Finish ES= Early start EF= Early finish F= Float/Slack 08/09/2019 1 year 7 months 03/04/2021 Activity B Audit & Risk Evaluation 12/19/2020 2 months Resources=$25 03/04/2021 07/25/2019 11 months 06/22/2020 Activity C Equipment & Maintenance 08/1/2019 4 months Resources=$30 12/22/2020 12/27/2019 8 months 08/05//2020 Activity A Retirement & social security Resources =$50 03/05/2020 3 days 03/8/2020 07/31/2019 2 months 09/23/2019 Activity E Logistics, Appraisals & Rewards 08/10/2019 2 days Resources=$30 08/12/2019 03/22/2019 1 month 04/09/2019 Activity D Training & Development 03/22/19 5 days Resources =$25 03/28/2019 5 Activities with 6 dependencies Running head: EVM PAPER 1 EVM PAPER 1 EVM Paper Mary Krenisky Joe Scott BUS 419 August 27, 2018 EVM Paper In the current project, additional resources are added at in each work activity to complete the work packages in a quickly. The resources are added to these activities to reduce the slack that may originate if the project is accomplished based on planned resources only. An earned value analysis has to be performed to keep track of a project’s performance. This type of assessment gives a general review about the performance of a project along the chosen course. It has been noted that after adding more resources for the achievement of the ventures successfully, the slack time has been decreased and the work is going on faster than planned. Earned value management is employed in different forms to determine the performance of the projects. By using this technique, the cost, schedule and, scope of the project are integrated that in turn aids the team of project administration to calculate and evaluate fulfillment and growth of the plan (Usmani, n.d.). The measurements of earned value are utilized by all managers of the projects. There are three main components of earned value management which are • Actual cost • Earned value • Planned value Planned value It is the value of a task to be accomplished in a specified time. Overall planned value is known as ‘Budget at completion.’ Planned value also acts as a project’s baseline (Usmani, n.d.). Actual cost Actual cost denotes the quantity of money which is i.

1. Develop a network schedule for your project using either the
arrow diagramming method or the precedence method. Also,
your project schedule should illustrate float/slack for each
activity.
Table 1.1. Project Tasks details
Activity
Predecessor
Anticipated Resources
Added Resources
Duration
Early start date
A (Retirement and social security benefits)
None
$126
$50
One year
1/1/2019
B (Audit & risk evaluation)
A
$118
$25
11 months
2/1/2019
C (Equipment Maintenance)
B
$121
$30
8 months
2/1/2019
D (Training & Development)

2. A, B
$109
$25
One year
1/2/2019
E (Logistics, appraisals & rewards)
D, C
$118
$30
One year
1/2/2019
Precedence Diagramming Method:
ES
Duration
EF
Activity Legend
LS
Float/slack
LF
LS= Late start Dependency
LF= Late Finish
ES= Early start
EF= Early finish
F= Float/Slack
08/09/2019
1 year 7 months
03/04/2021
Activity B Audit & Risk Evaluation
12/19/2020
2 months

3. Resources=$25
03/04/2021
07/25/2019
11 months
06/22/2020
Activity C Equipment & Maintenance
08/1/2019
4 months
Resources=$30
12/22/2020
12/27/2019
8 months
08/05//2020
Activity A Retirement & social security
Resources =$50
03/05/2020
3 days
03/8/2020
07/31/2019
2 months
09/23/2019
Activity E Logistics, Appraisals & Rewards
08/10/2019
2 days
Resources=$30
08/12/2019
03/22/2019
1 month
04/09/2019
Activity D Training & Development
03/22/19
5 days
Resources =$25

4. 03/28/2019
5 Activities with 6 dependencies
Running head: EVM PAPER 1
EVM PAPER 1
EVM Paper
Mary Krenisky
Joe Scott
BUS 419
August 27, 2018
EVM Paper
In the current project, additional resources are added at in
each work activity to complete the work packages in a quickly.
The resources are added to these activities to reduce the slack
that may originate if the project is accomplished based on

5. planned resources only. An earned value analysis has to be
performed to keep track of a project’s performance. This type of
assessment gives a general review about the performance of a
project along the chosen course. It has been noted that after
adding more resources for the achievement of the ventures
successfully, the slack time has been decreased and the work is
going on faster than planned.
Earned value management is employed in different forms
to determine the performance of the projects. By using this
technique, the cost, schedule and, scope of the project are
integrated that in turn aids the team of project administration to
calculate and evaluate fulfillment and growth of the plan
(Usmani, n.d.). The measurements of earned value are utilized
by all managers of the projects. There are three main
components of earned value management which are
• Actual cost
• Earned value
• Planned value
Planned value
It is the value of a task to be accomplished in a specified time.
Overall planned value is known as ‘Budget at completion.’
Planned value also acts as a project’s baseline (Usmani, n.d.).
Actual cost
Actual cost denotes the quantity of money which is invested in
the project until the present.
Earned value
Earned value is the worth of the task accomplished until
the current time. Suppose, a project is terminated in the middle,
the earned value will show the quality produced by the project
till to date. The assessment of earned value management of the
recent project indicates higher earned value and planned value.
While the actual cost spent on the project is lower. The three
cost’s that are planned value, actual cost and earned value are
mixed to achieve the information about the completion of a

6. project in a specific period.
Cost variance and schedule variance determine cost and
schedule performances of the project. Following formula
measures cost variance.
Cost variance = Earned value-actual cost (Cullen, 2016)
If cost variance is achieved in a negative value, it means that
the project is higher than the budget.
Schedule variance is computed through a specific formula, i.e.
Schedule variance = Earned value/Planned value
If schedule variance is obtained in a negative value, it denotes
the fact that the project is on the far side of the schedule
(Cullen, 2016).
In the current project, negative cost variances are obtained
for the months of January, February and, April which denotes
that the activities are higher than the planned budget and
require resources to be executed successfully. Negative
schedule variances are obtained for January and June which
shows that at these specific durations, the project is behind the
set timetable. So, there is a need for additional resources to
resolve the issue and complete the project fast.

7. References
Usmani, F. (n.d.). Earned Value Management (EVM) Analysis
in Project Cost Management
Retrieved August 20, 2018, from
https://pmstudycircle.com/2012/05/planned-value-pv-earned-
value-ev-actual-cost-ac-analysis-in-project-cost-management-2/
Cullen, S.V. (2016). Earned value analysis. Retrieved August
21, 2018, from
https://www.wbdg.org/resources/earned-value-analysis
ReportMS Project ExerciseEarned Value Analysis ReportEarned
Value Management TemplatePrepared By:Mary Krenisky©
2012-2017 Vertex42 LLCDate:27-Aug-18[42]For Period:Week
8Summary:According to the results of the graph that is prepared
on the basis of various computations, shows the Planned value
and earned value exceed the actual cost.Planned Value (PV) or
Budgeted Cost of Work Scheduled (BCWS)WBS
Vertex42: Work Breakdown Structure (WBS)Task NameTBC
Vertex42: Total Budgeted Cost
(TBC)JanFebMarAprilMayJuneJulyAugustSepOctNovDec←
You can change the labels for the periods (e.g. Week 1/2/3,
Jan/Feb/Mar, etc.)1.1Retirement&social security
benefits1764620253055← Enter or edit values in the light-blue
cells.1.2Audit&risk
evaluation14325432530501.3Equipment&maintenance15120231
0152020201.4Training&Development134202045203030241.5Lo
gistics,Appraisals&Rewards148203525253845000000Insert new
rows above this one← To add more tasks, insert rows above this
one. You can or delete this row after you are done adding

8. tasks.Total Budgeted
Cost752464588981351456575886900Cumulative Planned Value
(PV)4691179277412557622697785854854854Actual Cost and
Earned ValueCumulative Actual Cost
(AC)48126229325439531607← Enter the Actual Costs as
calculated from the AC worksheet.Cumulative Earned Value
(EV)26.4101.15232.24311.45460.4553.7627.35← Enter the
Earned Value as calculated from the EV worksheet.Project
Performance MetricsCost Variance (CV = EV - AC)-21.6-
24.853.24-13.5521.422.720.35 - - - - - Schedule Variance
(SV = EV - PV)-19.610.1553.2434.4548.4-3.35.35 - - - - -
Cost Performance Index (CPI =
EV/AC)0.550.801.010.961.051.041.03 - - - - - Schedule
Performance Index (SPI =
EV/PV)0.571.111.301.121.120.991.01 - - - - - Estimated Cost
at Completion (EAC)1367937742785717721728 - - - - -
&8&K01+049https://www.vertex42.com/ExcelTemplates/earned
-value-management.html &8&K01+049EVM Template ©
2012 Vertex42 LLC
Planned Value (PV) Jan Feb Mar April May June July
August Sep Oct Nov Dec 46 91 179 277 412
557 622 697 785 854 854 854 Earned Value (EV)
Jan Feb Mar April May June July August Sep
Oct Nov Dec 26.4 101.15 232.24
311.45000000000005 460.4 553.69999999 999993
627.35 Actual Cost (AC) Jan Feb Mar April
May June July August Sep Oct Nov Dec 48 126
229 325 439 531 607
Period
https://www.vertex42.com/ExcelTemplates/earned-value-
management.html
EVEarned Value WorksheetThis worksheet is used to help

9. calculate the Earned Value (EV) or Budgeted Cost of Work
Performed (BCWP).Earned Value Management TemplateMake
sure that the WBS, Task Name, and TBC are identical to the
table in the Report worksheet.© 2012-2017 Vertex42 LLCEnter
the % Complete for each task to calculate the cumulative earned
value.Cumulative Earned Value (EV)WBSTask
NameTBCJanFebMarchAprMayJuneJulyAugSepOctNovDec1.1R
etirement&social security
benefits17615%20%45%100%85%80%100%100%100%100%1.2
Audit&risk
evaluation14325%50%15%55%70%65%45%75%100%1.3Equip
ment&maintenance15120%54%40%65%100%80%35%65%100%
1.4Training&Development13440%100%60%100%55%80%100%
1.5Logistics,Appraisals&Rewards14855%70%40%70%90% - -
0 - - 0 - - 0 - - 0 - - 0 - - 0 - - 0Insert new rows above this
oneCumulative
EV26.4101.15232.24311.45460.4553.7627.35426.1592.2737.20
0https://www.vertex42.com/ExcelTemplates/earned-value-
management.html
ACActual Cost WorksheetUse this worksheet to help calculate
the Actual Cost (AC) of Work Performed (ACWP) by entering
the costs incurred each period.Earned Value Management
TemplateMake sure that the WBS, Task Name, and TBC are
identical to the table in the Report worksheet.© 2012-2017
Vertex42 LLCTransfer the Cumulative Actual Cost to the
Report worksheet.Actual Cost (AC) of Work
PerformedWBSTask
NameJanFebMarchAprilMayJuneJulyAugSepOctNovDec1.1Reti
rement&social security benefits48255221301.2Audit&risk
evaluation30313524231.3Equipment&maintenance23202020241
024101.4Training&Development202025263048201.5Logistics,
Appraisals&Rewards202040262022 - - - - - - - - - - - -
Insert new rows above this oneTotal Actual
Cost487810396114927680784200Cumulative Actual Cost
(AC)48126229325439531607687765807807807https://www.vert
ex42.com/ExcelTemplates/earned-value-management.html

10. ©Earned Value Management (EVM) TemplateBy
Vertex42.comhttps://www.vertex42.com/ExcelTemplates/critica
l-path-method.html© 2012-2017 Vertex42 LLCThis spreadsheet,
including all worksheets and associated content is a copyrighted
work under the United States and other copyright laws.Do not
submit copies or modifications of this template to any website
or online template gallery.Please review the following license
agreement to learn how you may or may not use this template.
Thank
you.https://www.vertex42.com/licensing/EULA_privateuse.html
Do not delete this
worksheet.https://www.vertex42.com/ExcelTemplates/critical-
path-
method.htmlhttps://www.vertex42.com/licensing/EULA_private
use.html