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Your project to obtain charitable donations is now 38 days into a planned 48-day project. The project is divided into 3 activities. The first activity is designed to solicit individual donations. It is scheduled to run the first 33 days of the project and to bring in $25,300. Even though we are 38 days into the project, we still see that we have only 88% of this activity complete. The second activity relates to company donations and is scheduled to run for 38 days starting on day 5 and extending through day 43. We estimate that, even though we should have (33/38) 86.84% of this activity complete, it is actually only 50% complete. This part of the project was scheduled to bring in $150,300 in donations. The final activity is for matching funds. This activity is scheduled to run the last 10 days of the project and has not started. It is scheduled to bring in an additional $50,600. So far $175,800 has actually been brought in on the project. Calculate the schedule variance, schedule performance index, cost (actually value in this case) variance, and cost performance index. (Negative values should be indicated by a minus sign. Do not round your intermediate calculations or "variance" values. Round your "performance index" values to 3 decimal places.) Schedule variance Schedule performance index Cost variance Cost performance index

Your project to obtain charitable donations is now 38 days into a planned 48-day project. The project is divided into 3 activities. The first activity is designed to solicit individual donations. It is scheduled to run the first 33 days of the project and to bring in $25,300. Even though we are 38 days into the project, we still see that we have only 88% of this activity complete. The second activity relates to company donations and is scheduled to run for 38 days starting on day 5 and extending through day 43. We estimate that, even though we should have (33/38) 86.84% of this activity complete, it is actually only 50% complete. This part of the project was scheduled to bring in $150,300 in donations. The final activity is for matching funds. This activity is scheduled to run the last 10 days of the project and has not started. It is scheduled to bring in an additional $50,600. So far $175,800 has actually been brought in on the project. Calculate the schedule variance, schedule performance index, cost (actually value in this case) variance, and cost performance index. (Negative values should be indicated by a minus sign. Do not round your intermediate calculations or "variance" values. Round your "performance index" values to 3 decimal places.) Schedule variance Schedule performance index Cost variance Cost performance index

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question 55
Your project to obtain charitable donations is now 38 days into a planned 48-day project. The project is divided into 3 activities. The first activity is designed to solicit individual donations. It is scheduled to run the first 33 days of the project and to bring in $25,300. Even though we are 38 days into the project, we still see that we have only 88% of this activity complete. The second activity relates to company donations and is scheduled to run for 38 days starting on day 5 and extending through day 43. We estimate that, even though we should have (33/38) 86.84% of this activity complete, it is actually only 50% complete. This part of the project was scheduled to bring in $150,300 in donations. The final activity is for matching funds. This activity is scheduled to run the last 10 days of the project and has not started. It is scheduled to bring in an additional $50,600. So far $175,800 has actually been brought in on the project. Calculate the schedule variance, schedule performance index, cost (actually value in this case) variance, and cost performance index. (Negative values should be indicated by a minus sign. Do not round your intermediate calculations or "variance" values. Round your "performance index" values to 3 decimal places.) Schedule variance Schedule performance index Cost variance Cost performance index
Transcribed Image Text:Your project to obtain charitable donations is now 38 days into a planned 48-day project. The project is divided into 3 activities. The first activity is designed to solicit individual donations. It is scheduled to run the first 33 days of the project and to bring in $25,300. Even though we are 38 days into the project, we still see that we have only 88% of this activity complete. The second activity relates to company donations and is scheduled to run for 38 days starting on day 5 and extending through day 43. We estimate that, even though we should have (33/38) 86.84% of this activity complete, it is actually only 50% complete. This part of the project was scheduled to bring in $150,300 in donations. The final activity is for matching funds. This activity is scheduled to run the last 10 days of the project and has not started. It is scheduled to bring in an additional $50,600. So far $175,800 has actually been brought in on the project. Calculate the schedule variance, schedule performance index, cost (actually value in this case) variance, and cost performance index. (Negative values should be indicated by a minus sign. Do not round your intermediate calculations or "variance" values. Round your "performance index" values to 3 decimal places.) Schedule variance Schedule performance index Cost variance Cost performance index
Expert Solution
Step 1

Formulae used: 

i) The Schedule variance (SV)=EV–PV  Where,EV=Earned value PV=Planned value

ii) Schedule performance index (SPI)=(EVPV)

iii) Cost variance (CV)=EV–ACWhere, EV=Earned valueAC=Actual cost of project

iv)Cost performance index(CPI)=(EVAC)

 

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