A project has just completed its 87th task of a total of 150 tasks in its...

A project has just completed its 87th task of a total of 150 tasks in its project plan. The project has a total budget of $1,500,000. It was scheduled to have spent $500,000 at this point in the plan, but has actually spent only $400,000. The project manager estimates that the value of the work actually finished is $300,000. What are the spending and schedule variances for the project? What are the SPI and CPI? What is the EAC, assuming the remaining work will be completed as budgeted? Is this likely?

a. CV =

b. SV =

c. SPI =

d. CPI =

e. EAC =

Expert Solution

Project cost control is nothing but the process by which the status of the project is monitored so that the project costs are updated and changes to the cost baseline are managed. Project cost control include: -

Factors that result in changes to the authorized cost baseline are influenced.
To ensure all change request are managed in timely manner.
To ensure the cost expenditure is less than authorized funding.
Monitoring cost performance
Monitoring work performance
Expected cost overrun are kept in acceptable limits.

keosha answered 7 months ago

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