You are currently working on a project to be completed in 20 months. The budget of the project is R12 000 000. Six months have passed, and the schedule says that 30% of the work should be completed. To date R2 800 000 has been spent already, however on a closer review; you find that only 15% of work has been completed.

4.1.Calculate the project’s Planned Value (PV).

4.2.Calculate the project’s Earned Value (EV).

4.3.Calculate the project’s Cost Variance (CV) and determine if the project is under budget or over budget.

4.4.Calculate the project’s Schedule Variance (SV) and determine if the project is behind schedule or ahead of schedule.

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