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Project Cost Variance Analysis

The document summarizes the cost variance analysis for a construction project. It shows the cost baseline, estimated costs to date, actual costs to date, cost variances, and percentages for four cost accounts. The totals show the project is under budget by 1,500 but 48% complete. Formulas are provided to calculate the estimate to complete and estimate at completion based on actual costs and remaining percentages of work.

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Abdallah Habeeb
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191 views2 pages

Project Cost Variance Analysis

The document summarizes the cost variance analysis for a construction project. It shows the cost baseline, estimated costs to date, actual costs to date, cost variances, and percentages for four cost accounts. The totals show the project is under budget by 1,500 but 48% complete. Formulas are provided to calculate the estimate to complete and estimate at completion based on actual costs and remaining percentages of work.

Uploaded by

Abdallah Habeeb
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Cost Variance Analysis

Cost Cost PCT Est. Actual Cost


Cost
Account Baseline Cost Costs Variance CV % ETC EAC
Account (%)
Code (EGP) to Date (EGP) (EGP)

PM-012 Foundations 50,000 100 50,000 52,000 -2,000 -4% 0 52,000

Reinforced
PM-123 70,000 50 35,000 34,000 1,000 2.9% 34,000 68,000
Concrete

PM-034 Brickwork 20,000 25 5,000 5,500 -500 -10% 15,000 20,500

PM-098 Finishing 50,000 0 0 0,000 0 0% 50,000 50,000

Totals 190,000 90,000 91,500 -1,500 190,500

Project Cost Efficiency = Est. Cost to Date / Actual Costs = 90,000 / 91,500 = 0.984
Project PCT by Cost = Actual Cost / EAC = 91,500 / 190,500 = 48%

PMD 913 Project Progress & Cost Control


Prof. Hesham Bassioni, PhD, MBA, ME, PMP A3 - 1
Module 3: Project Cost Control
Cost Control – Variance Analysis

• CV% = CV/EV x 100


• The Estimate to Complete (ETC) can be calculated from
the following formulas:
- Past performance to continue: ETC  AC   1 - 1
 PCT 

- Planned performance to continue: ETC  EV   1 - 1


 PCT 

- Other performance to continue: ETC using cost


estimating

• The Estimate at Completion (EAC) can be calculated


as: EAC  AC  ETC

PMD 913 Project Progress & Cost Control


Prof. Hesham Bassioni, PhD, MBA, ME, PMP
Module 3: Project Cost Control

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