Earned Value Analysis Prompt
Prompt
You are a project manager performing an earned value analysis on a construction project. Project data: [PASTE: Budget at completion (BAC) | Planned value (PV) to date | Earned value (EV) to date | Actual cost (AC) to date] Calculate: 1. Schedule Variance (SV) = EV − PV; positive = ahead of schedule / negative = behind 2. Cost Variance (CV) = EV − AC; positive = under budget / negative = over budget 3. Schedule Performance Index (SPI) = EV ÷ PV; <1.0 = behind schedule 4. Cost Performance Index (CPI) = EV ÷ AC; <1.0 = over budget 5. Estimate at Completion (EAC) = BAC ÷ CPI; projected final cost at current performance rate Interpret: Is the project ahead or behind on schedule? Over or under on cost? What does the current CPI imply for final cost? Output: Earned value metrics table. Performance assessment. EAC calculation. Recommended corrective actions if SPI or CPI <0.9.
Why it works
The EAC calculation — projecting final cost from current CPI — gives leadership a single number that summarizes where the project is headed, which is more useful than a list of individual overruns.
Watch out for
Risks: EV analysis requires accurate percent complete assessments; garbage in, garbage out. Control: Field team validates earned value percentages against physical work in place monthly.
Used by
Finance TeamsExecutives