The project team completed 120 hours of work at a cost of $95,000 but the estimated work completed based on the original budget was only $65,000. The project was estimated to be at 150 hours of work costing $50,000 at this point.

1. Your project team has completed 120 hours of work for the delivery of a software
module. The cost of these 120 hours of work was $95,000. The actual work packages
completed during these 120 hours, however, was calculated as $65,000 based on the
original budget. At the start of the project you had estimated that at this point in the
project you would have received 150 hours of work packages at a cost $50,000.
a.
What is the planned value, earned value, and actual cost (in dollars) in this example?
b.
What is the Schedule Variance (using dollars)? What does this mean?
c.
What is the Cost Variance (using dollars)? What does his mean?
Your project team has completed 120 hours of work for the delivery of a software module. The
cost of these 120 hours of work was $95,000. The actual work packages completed during these
120 hours, however, was calculated as $65,000 based on the original budget. At the start of the
project you had estimated that at this point in the project you would have received 150 hours of
work packages at a cost $50,000.
a.
What is the planned value, earned value, and actual cost (in dollars) in this example?
b.
What is the Schedule Variance (using dollars)? What does this mean?
c.
What is the Cost Variance (using dollars)? What does his mean?