Plz sove fully The bar chart below depicts a 6-month schedule for a project. Aft

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Plz sove fully

The bar chart below depicts a 6-month schedule for a project. After 3 months on the job, three activities (e.g.. Sitework. Fencing, and Excavation) have been completed. In addition. 20% of Framing. 80% of Paving, and 40% of Foundation have been completed. The incurred cost to data is $535,000. (1) Budgeted Cost at Completion? (2) Actual Cost of Work Performed? (3) Budgeted Cost of Work Scheduled? (4) Budgeted Cost of Work Performed? (5) Percent Completed? (6) Planned Percent Complete? (7) Using earned value concepts, determine the schedule variance and the cost variance.(8) State if the project is over or under budget and if it is ahead of or behind the planned schedule. (9) Estimate how many days (1 month = 30 days) the actual schedule is ahead of or behind the planned schedule.

Explanation / Answer

1. BAC = Sum of all budgeted costs = 1,110,000

2. ACWP = 535,000 ( as given incurred cost to date )

3. BCWS = 50,000 + 120,000 + 80,000 + 200,000 + 50%*120,000 = 510,000

4. BCWP = 50,000 + 120,000 + 200,000 + 20%*300,000 + 80%*80,000 + 40%*120,000 = 542,000

5. Percent Completed = BCWP / BAC = 542,000/1,110,000 = 49%

6. Planned percent Complete = BCWS / BAC = 510,000/1,110,000 = 46%

7. Schedule Variance = BCWP – BCWS = 542,000 – 510,000 = 32,000

Cost Variance = BCWP – ACWP = 542,000 – 535,000 = 7,000

8. Cost variance is positive, which means project is under budget and schedule variance is also positive, which means project is ahead of schedule.

9. Actual Schedule is behind planed schedule by 6 days

= Sum of actual time of activites performed - Sum of time of Planned Activities by date = 30 + 30 + 30 + 20%*60 + 80% * 60 + 40% * 60 – ( 30 + 30 + 60 +30 + 50%*60 ) = 174 – 180

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