I need someone to paraphrase this for me
1. On day 51 a project has an earned value of $600, an actual cost of $650, and a planned cost of $560. Compute the SV, CV, and CPI for the project. What is your assessment of the project on day 51?
Answer:
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(AC = 650) – (EV = 600) – (PC = 560)
CV (Cost Variance) = (EV – AC) = (600 – 650) = (-50).
SV (Schedule Variance) = (EV – PV) = (600 – 560) = (40).
CPI (Cost performance index) = (EV ÷ AC) = (600 ÷ 650) = (0.92).
i need to paraphrase it depend on the solution
My assessment would be that the project is over budget (as indicated by negative CV). However, since SV is positive, it indicates that project is on schedule. A CPI of .92 indicates that the cost of completing the project is higher than planned which is a bad condition.
