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# Question#1

BCWS (Budget cost of work scheduled) is the least meaningful in determining the status of a
project.
Question#2

Budget cost of work scheduled is actually a budget allotted for a specific project. It is a plan
value so it doesn’t tell anything the status of a project.
Question#3
Solution:
Actual cost of work performed is given as
ACWP=39500\$
Budget cost of work performed
BCWP=7000+1200+0.5(6000)+0.5(10000)
=27000\$
Budget cost of schedule after 1 and half month is given as
BCWSS=7000+0.25(12000)+0.5(6000)
=13000\$
Budget cost at completion is
BAC=7000+12000+6000+8000+10000+25000
=68000\$
(a)
Schedule variance is given as
S.V=BCWP-BCWS
=27000-13000
=14000\$
Cost variance is given as
C.V=BCWP-ACWP
= 27000-39500
=-12500\$
Cost status of project
𝐵𝐶𝑊𝑃−𝐴𝐶𝑊𝑃
Percentage C.V= 𝐵𝐶𝑊𝑃
27000−39500
= 27000

=-46.3
Since value is less than zero so project is over budget.

## Schedule status of project

𝐵𝐶𝑊𝑃−𝐵𝐶𝑊𝑆
Percentage S.V= 𝐵𝐶𝑊𝑆
27000−13000
= 13000

=1.08
Since value is greater than zero so project ahead the schedule.
(b)
Project completion percentage is given as
𝐵𝐶𝑊𝑃
𝑃. 𝐶 = ∗ 100
𝐵𝐴𝐶

27000
=68000 ∗ 100

=39.70
Percentage of project yet to be completed=100-39.70=60.30%

(c)
Project is spending money faster because it is over budget and ahead the schedule.