Discussion:
When looking at the life of a project plan, it is useful to graph and outline the cost variance (CV), and schedule variance (SV). Determining progress, or lack of progress, provides essential information to assess a given project.
Given the data provided: 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? In an excel spreadsheet, PowerPoint, or other appropriate method of delivery, determine the following:
1. Schedule Variance (SV)
2. Cost Variance (CV)
3. Schedule Performance Index (SPI)
4. Cost Performance Index (CPI)
In 250-300 words, answer the questions provided with the exercise. Reflect on the assessment of this project assessment. Should the project continue to improve?
APA format is not required, but solid academic writing is expected.