Question

For the Fast Delivery Parts project, you identified that SIX major new software features are required for the information systems to address the three major issues: "Data Inconsistency", "Information System Silos", and "Security Breaches". The projected cost for the project is $1,000,000 and development is expected to take 5 months. At the end of the second month, you have spent $175,000 per new software feature and you have completed development of two new features. You are about to start the development of the third new software feature.

Based on this information find the EV (Earned Value or Budgeted Cost of Work Performed))
EV = percentage of completed work x BAC
BAC = 1,000,000

Answer 1

To find the EV (Earned Value or Budgeted Cost of Work Performed), you need to calculate the percentage of completed work and multiply it by the BAC (Budget at Completion). In this case, the EV is $333,333.33.

Step-by-step explanation:

To find the EV (Earned Value or Budgeted Cost of Work Performed), you need to calculate the percentage of completed work and multiply it by the BAC (Budget at Completion).

Percentage of completed work = Number of completed features / Total number of features

In this case, we have completed 2 features out of 6, so the percentage of completed work is 2 / 6 = 0.3333

EV = 0.3333 x 1,000,000 = $333,333.33