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Plan value, earned value, actual cost and cost variance

JLB Construction has been contracted to provide a security enclosure for a Water Distribution facility for a major metropolitan area. The structure is in the shape of a pentagon and is a wall. One side of the wall contains a secure gate for exit and entry. Total project cost is estimated at 1 million dollars. The wall will be 10 feet tall with securing system on top of wall. Wall is 12 inches think with a foundation six feet deep. Gate area allows for the entry of all vehicles including construction vehicles. The cost to construct each side of the wall is essentially the same. Initial construction went pretty well - on schedule and with current spending at 700,000. Currently the Gate wall and two additional walls have been constructed.

Calculate current values.
What is the plan value (PV)?
What is the current earned value (EV) for JLB Construction to date?
What is the actual cost to data (AC)? What is the cost variance to date (CV)?
Show all calculations.

Solution Preview

Number of walls = 5
Estimated (budgeted) cost per wall = Total project cost/number of walls = $1 million/5 = $200,000
Number of walls completed = 3
Plan Value (PV) = Task's ...

Solution Summary

Compute the plan value, earned value, actual cost and cost variance

$2.19