It's the end of month 4 of your 6 month project and your performance cost reports have arrived.  So far, your plan is to have $500,000 worth of work to be completed.  Your project team actually accomplished $600,000 worth of work. Total expenditures for the completed work is $650,000.

What is the earned value, actual cost, and planned value?

Answer:

PV = $500000

AC = $650000

EV = $600000

Step-by-step explanation

Planned Value is the value of the work that should have been completed so far (as per the schedule).

So it is equal to $500000

Actual Cost is the total expense incurred for the actual work completed to date. In other words, it is the amount you have spent to date.

So it is equal to $650000

Earned Value is the work actually completed to date. It shows you the value that the project has produced if it were terminated today.

So it is equal to $600000