You are developing a new rocket motor for NASA. The project duration is planned for 20 weeks. The project budget is $40,000 and is planned to be spent on a level bases through out the project. You are at the end of week 10, the accounting department tells you the project has spent $19,500, your project manager tell you that you are 40% of the WBS is complete. Calculate the following;
Actual Cost, Earned Value, Planned Value.
Actual Cost should be $40,000 * 0.40 = $16,000
Planned Value = 40,000
Earned Value = $40,000 - (40,000*0.6) = $16,000