Earned Value Report

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Civil Engineering

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University of Colorado Colorado Springs

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Homework

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ghpxrearnffn00

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Earned Value Report

Student’s Name

Institutional Affiliation

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Instructor

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Earned Value Report

In earned value reports, expenditure assigned to multiple activities can create a challenge

for maintaining the accuracy of earned value (EV) reports, especially as these reports require

costs to be reported for each project activity. However, to fix this issue, project cost controllers

can take a series of steps. These steps include gathering performance information, determining

schedule status, determining cost status, forecasting, and reporting (Killough, 2021). In the first

step, the controller would need to gather information about each activity within the shared

expenditure. Such information should include task name, start and end dates, budget, and how

much work has been completed for each of these tasks. This information would help establish the

percentage cost or expenditure of each activity in the overall shared expenditure. The next step

involves determining the schedule status. According to Killough (2021), this determination helps

to highlight if tasks are behind or ahead of schedule. In the third step, the controller should then

determine the cost status, focusing on whether tasks are over or under their allocated budget.

Once all this information about schedule and cost status has been obtained, the controller can

then forecast the cost of each activity sharing in the shared expenditure. This forecasting will be

based on the percentage of each task, whether the task is ahead or behind schedule, and whether

the task is over or below budget (Killough, 2021). Through this determination, the cost controller

would then be able to forecast and estimate the cost of each activity from the shared expenditure

and record the cost of each task independently. Such reporting ensures that the earned value

report accuracy is maintained by showing the cost of each activity independently, making it easy

to compare planned, earned, and actual values.

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1 Earned Value Report Student’s Name Institutional Affiliation Course Instructor Date 2 Earned Value Report In earned value reports, expenditure assigned to multiple activities can create a challenge for maintaining the accuracy of earned value (EV) reports, especially as these reports require costs to be reported for each project activity. However, to fix this issue, project cost controllers can take a series of steps. These steps include gathering performance information, determining schedule status, determining cost status, forecasting, and reporting (Killough, 2021). In the first step, the controller would need to gather information about each activity within the shared expenditure. Such information should include task name, start and end dates, budget, and how much work has been completed for each of these tasks. This information would help establish the percentage cost or exp ...
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Tags: forecasting earned value report general contractor team