• Aim
• Theory
• Procedure
• Pre-Test
• Simulation
• Post-Test
• References
• Generate PDF

Procedure:

1. There are two parts in this experiment.
2. In Part 1, Use the Simulator by clicking on the link: https://demonstrations.wolfram.com/EarnedValueManagement/
3. Part 2 Adjust the Earned Value (EV) and Actual Cost (AC) such that the Estimate at completion (EAC) is almost equal to Planned Value (PV). Estimate at completion (EAC): • CPI can be used to produce new cost estimate • Budget at completion (BAC) – current budget allocated to total costs of project • Estimate at completion (EAC) – updated estimate = BAC/CPI