Project Cost Management - EV, CV and SV calculation

[priya62]

Hi Saketh ,
I understand the logic of PV , EV , BAC and related calculations.
but got struck with an example here.... and something isn't kinda synching in my head...

so... Ex : A house construction project estimated for 60Lakhs in 8 weeks time period.
Say in 4 weeks period , we've spent 28Lakhs ( which would be 28/60 = 46% of work completed )

As per calculations ,
BAC = 60Lakhs ,
PV =( Planned % Complete ) * BAC = 4 weeks of 8 weeks project is 50% of schedule = 0.5 * 60L = 30L
EV = ( Actual % of work completed ) * BAC = 46% * 60L = 0.46 * 60L = 27.6L ( Is this correct calculation , am I missing something ? )

AC = 28L
CV = EV - AC = 27.6 - 28 = > -0.4
and SV = EV - PV = 27.6 - 30 = -2.4

That interprets the project is actually behind schedule and over budgeted , can you help understand what am I missing here with the calculation.
I totally get these calculations type questions aren't required in exam perspective, but this's for me to understand the logics behind it.

Thank you in advance

[saket]

so... Ex : A house construction project estimated for 60Lakhs in 8 weeks time period.
Say in 4 weeks period , we've spent 28Lakhs ( which would be 28/60 = 46% of work completed )

With this information i can only find Actual Cost, I do not know PV and EV.

Since % Money Spend will not necessary equal to % work completed , second % duration of planned project, 4 weeks not necessary mean we were planning 50% completion in 4 weeks.

So we do not information here, maybe you can share the whole question.