You’re a subcontractor responsible for the re-furbishment of an automobile showroom. The estimated re-furbishment cost is $500 per square foot. The total showroom area that needs to be refurbished is 1,000 square feet. Based on your past experience, you know your team can renovate 100 square feet per week. After 4 weeks, you have 45% of the job completed and you have spent $250,000. Determine the value for each of the terms below:Term ValueBudget At CompletionPlanned ValueEarned ValueActual CostCost VarianceSchedule VarianceCost Performance IndexSchedule Performance IndexEstimate At CompletionEstimate To CompleteVariance At Completion

Explanation:

The Earned Value Analysis for each term can be computed as follows:

Term                                  Acronym                 Formula            Value

Budget At Completion   BAC                =1000×500               500,000

Planned Value                   PV                   =400×500                200,000

Earned Value                     EV                   =500000×0.45        225,000

Actual Cost                      AC                                                         250,000

Cost Variance                 CV                                      -25,000

Schedule Variance         SV                                       25,000

Cost Performance Index CPI                                          0.9

Schedule Performance Index SPI                                 1.125

Estimate At Completion EAC                               555,556

Estimate To Complete   ETC                               305,556

Variance At Completion VAC                             -55,556

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