Read Earned Value on a Concrete Package
Calculate basic earned value indicators for a construction work package and interpret the result.
Concrete slab package: budget at completion is $600,000. Planned value is $360,000, actual cost is $420,000, and verified complete work equals 55 percent of budget. Earned Value Management: EV = budgeted value of completed work; SPI = EV / PV; CPI = EV / AC. The common shortcut is reading actual cost or visible crew activity as progress. In construction this can hide poor productivity, out-of-sequence work, or rework because spending can rise faster than earned scope. Step 1 Calculate EV: $600,000 budget at completion x 55 percent verified complete = $330,000 earned value. EV uses budgeted value, not actual…
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