budget with earned value for feb

8/2/2019 Budget With Earned Value for Feb

http://slidepdf.com/reader/full/budget-with-earned-value-for-feb 1/21

Project Milestone Review Purpose of Review Reviewers

Plans Make sure we have the plans for bidsand permits

Michelle &Bryne

Get bids from suppliers for windows, cabinetsappliances, plumbing fixtures, lighting fixtures,flooring, doors

Make sure suppliers can meet ourtimelines.

Michelle

Permits & Plans Make sure we have the permits to dothe remodel and garage

Michelle

Make downpayments on supplies - custom windows,cabinets

Make sure we can get supplies whenwe need them

Michelle

Phase I and 2 Demolition Make sure the house is ready for theremodel

Mark

Reroof the house Make sure the roof is done Mark

Frame walls, install windows and french doors Make sure the framing is done for the

remodel

Mark

HVAC basement bedroom Make sure we have the HVAC donebefore we frame or rock for bedroom

Mark

Upgrade Electrical Service Make sure we have the electrical powerwe need for the house

Bryne

Side new sections of house Make sure house is ready for painting Bryne

Paint exterior of house Make sure house looks good on theoutside

Bryne

Rough in Electrical with smart wiring and fixtures Bring electrical system up to code Bryne

Put in new septic tank Make sure it works BryneRough in Plumbing Make sure we have the plumbing for

fixtures

Bryne

Insulation Make sure we have pipes wire wrappedand walls insulated

Bryne

Sheet rock Make sure we have the walls ready forpainting

Bryne

Interior Paint Make sure we have walls ready for

flooring

Bryne

Install lighting fixtures Make sure lighting worksInstall cabinets Make sure appliances fit with cabinets Mark

Install appliances Make sure all appliances work Mark

Install counter tops Make sure it all fits MarkInstall plumbing fixtures Make sure fixtures work Mark

Do finish work with trim, built in book shelves. Make sure the built ins are done to

code

Mark

Install flooring Make sure we get the flooring wespec’d out.

Mark

Final inspection Make sure we are ready to move ourstuff in

Michelle &Bryne



Total Cost



Approval to

Move

Forward

Date of Review Estimated

Percent

Complete

External

material

Costs

Estimate

Confidence

Rating

Low Cost Avg. Cost High

Cost

Michelle &Bryne

15/02/2007 2%200 0.9 180 200 220

Michelle 01/03/2007 5%

0

Michelle 15/03/2007 7%10000 0.5 5000 10000 15000

Michelle 16/03/2007 10%5000 0.5 2500 5000 7500

Michelle 01/04/2007 12%1000 0.5 500 1000 1500

Michelle 01/04/2007 15% 5000 0.75 3750 5000 6250

Bryne 07/04/2007 25%20000 0.75 15000 20000 25000

Bryne 07/04/2007 26%1500 0.5 750 1500 2250

Bryne 07/04/2007 28%1000 0.5 500 1000 1500

Bryne 07/04/2006 32%1000 0.5 500 1000 1500

Bryne 15/04/2006 35%10000 0.5 5000 10000 15000

Bryne 15/04/2007 40% 1000 0.5 500 1000 1500

Bryne 15/04/2007 42% 1000 0.5 500 1000 1500

Bryne 01/05/2007 45%

1000 0.5 500 1000 1500

Bryne 05/05/2007 47%1000 0.5 500 1000 1500

bryne 19/05/2007 55%2000 0.5 1000 2000 3000

Bryne 21/05/2007 65%1000 0.5 500 1000 1500

68% 3000 0.5 1500 3000 4500

Mark 24/05/2007 75%10000 0.5 5000 10000 15000

Mark 26/05/2007 77% 15000 0.5 7500 15000 22500

Mark 26/05/2007 79% 6000 0.5 3000 6000 9000Mark 30/05/2007 85% 12000 0.5 6000 12000 18000

Mark 15/06/2007 95%1000 0.5 500 1000 1500

Mark 01/07/2007 99%4000 0.5 2000 4000 6000

Michelle &Bryne

01/07/2007 100%500 0.5 250 500 750



113200 62930 113200 163470

Internal 113200 62930 113200 163470External 83270 51055 83270 115665

Total 196470 113985 196470 279135



External

Labor

Cost

Estimate

Confidence

Rating


Cost

7000 0.9 6300 7000 7700

4160 0.75 750 4160 5200

12000 0.75 3750 12000 15000

9600 0.75 15000 9600 12000

200 0.5 100 200 300

2000 0.5 1000 2000 3000

2000 0.5 1000 2000 3000

10000 0.5 5000 10000 150002000 0.5 1000 2000 3000

2000 0.5 1000 2000 3000

2000 0.5 1000 2000 3000

2000 0.5 1000 2000 3000

2560 0.5 1280 2560 3840

5000 0.5 2500 5000 7500750 0.5 375 750 1125

1000 0.5 500 1000 15001000 0.5 500 1000 1500

1000 0.5 500 1000 15001000 0.5 500 1000 1500

10000 0.5 5000 10000 15000

6000 0.5 3000 6000 9000

0 0.5 0 0 0



83270 51055 83270 115665



Project

Milestone

Review

Purpose

of Review

Reviewers Approval

to Move

Forward

Date of

Review

Estimated

Percent

Complete

External

material

Costs

Estimate

Confidence

Rating

Plans Make surewe havethe plans

for bidsandpermits

Michelle &Bryne

Michelle &Bryne

######## 2%

200 0.9

Get bids fromsuppliers forwindows,

cabinetsappliances,plumbing fixtures,lighting fixtures,flooring, doors

Make suresupplierscan meet

ourtimelines.

Michelle Michelle ######## 5%

0

Feb200

Permits & Plans Make surewe havethepermits todo theremodeland

garage


10000 0.5

Makedownpaymentson supplies -

custom windows,cabinets

Make surewe canget

supplieswhen weneedthem


5000 0.5

Phase I and 2Demolition

Make surethe houseis ready

for theremodel

Mark Michelle ######## 12%

1000 0.5

Reroof the house Make surethe roof is

done

Mark Michelle ######## 15%

5000 0.75

March 21000Frame walls,install windowsand french doors

Make suretheframing is

done fortheremodel

Mark Bryne ######## 25%

20000 0.75



HVAC basement

bedroom

Make sure

we havethe HVACdonebefore weframe orrock for

bedroom

Mark Bryne ######## 26%

1500 0.5

UpgradeElectrical Service

Make surewe havetheelectricalpower we

need forthe house

Bryne Bryne ######## 28%

1000 0.5

Side newsections of house

Make surehouse is

ready forpainting


1000 0.5Paint exterior ofhouse

Make surehouselooksgood on

theoutside


10000 0.5

Rough inElectrical withsmart wiring and

fixtures

Bringelectricalsystem up

to code


1000 0.5

Put in new septic

tank

Make sure

it works


1000 0.5

Rough inPlumbing

Make surewe havetheplumbingfor fixtures


1000 0.5

36500

Insulation Make surewe havepipes wirewrappedand wallsinsulated


1000 0.5



Sheet rock Make sure

we havethe wallsready forpainting

Bryne bryne ######## 55%

2000 0.5

Interior Paint Make sure

we havewallsready forflooring


1000 0.5

Install lightingfixtures

Make surelightingworks

68%

3000 0.5

Install cabinets Make sure

appliances fit withcabinets

Mark Mark ######## 75%

10000 0.5Install appliances Make sureallappliance

s work

Mark Mark ######## 77%

15000 0.5

Install countertops

Make sureit all fits

Mark Mark ######## 79%

6000 0.5

Install plumbingfixtures

Make surefixtureswork

Mark Mark ######## 85%

12000 0.550000

Do finish work

with trim, built inbook shelves.

Make sure

the builtins are

done tocode

Mark Mark ######## 95%

1000 0.5

Install flooring Make surewe get theflooringwe spec’d

out.

Mark Mark ######## 99%

4000 0.5

Final inspection Make surewe areready to

move ourstuff in

Michelle &Bryne

Michelle &Bryne

######## 100%

500 0.55500

220900

Total Cost Internal 220900External 136230



Total 357130




Cost

External

Labor

Cost

Estimate

Confiden

ce Rating


Cost

Total

Cost

180 200 220 7000 0.9 6300 7000 7700 0

180 200 220 7000 6300 7000 7700 7200

5000 10000 15000

2500 5000 7500

500 1000 1500 4160 0.75 750 4160 5200

3750 5000 6250 12000 0.75 3750 12000 15000

11750 21000 30250 16160 4500 16160 20200 37160

15000 20000 25000 9600 0.75 15000 9600 12000



750 1500 2250 200 0.5 100 200 300

500 1000 1500 2000 0.5 1000 2000 3000

500 1000 1500 2000 0.5 1000 2000 3000

5000 10000 15000 10000 0.5 5000 10000 15000

500 1000 1500 2000 0.5 1000 2000 3000

500 1000 1500 2000 0.5 1000 2000 3000

500 1000 1500 2000 0.5 1000 2000 3000

23250 36500 49750 29800 25100 29800 42300 66300

500 1000 1500 2000 0.5 1000 2000 3000



1000 2000 3000 2560 0.5 1280 2560 3840

500 1000 1500 5000 0.5 2500 5000 7500

1500 3000 4500 750 0.5 375 750 1125

5000 10000 15000 1000 0.5 500 1000 1500

7500 15000 22500 1000 0.5 500 1000 1500

3000 6000 9000 1000 0.5 500 1000 1500

6000 12000 18000 1000 0.5 500 1000 150025000 50000 75000 7155 14310 21465 50000

500 1000 1500 10000 0.5 5000 10000 15000

2000 4000 6000 6000 0.5 3000 6000 9000

250 500 750 0 0.5 0 0 02750 5500 8250 8000 16000 24000 5500

123110 220900 318690 136230 94110 150540 207330

123110 220900 31869094110 150540 207330



217220 371440 526020



Low Avg High

0 6480 7200 7920

6480 7200 7920

16250 37160 50450



48350 66300 92050



32155 64310 96465

10750 21500 32250



Data input Calculated Data input Calculated Data Input Data Input

Interim Deliverable

Min Time

Scheduled

(hours)

Cost

Budgeted

Labor

Cost

Budgeted

(equipment) BAC

Work

Planned to

Date

(hours)

Percent

complete

Example 6.5 292.5 $937.50 $1,230.00 3.25 80.00%

Plans 60 9000 $450.00 $9,450.00 45 50.00%

Demolition 0 $2,000.00 100.00%

Crawl Space Door 0 0 $800.00 100.00%

Pest Control 500 100.00%

Totals 60 9000 450 12750 45 100

NotePlanned for This MonthPlanned for Next MonthPlanned but didn't think we'd need it for this project

The architect did the work but billed us in March for the work in February. Since we are doing acash based accounting, the bill for that work will show up in March. The bill we paid for thiswork is for 50% of the work.This shows we are pretty close to our budget for feb, and we are a little behind schedule - butmostly that is because of the way we are doing the accounting for the project with the architect.The actual budget for Feb was $7200. We spent $7350 for the project - we had 2800 ofexpenses that were scheduled from March but moved to Feb. And we had a $500k pestremoval fee we didn't anticipate.For March, we have to add in another 5k for Plans. It is going inthe permit milestone. It changes cash flow estimate for March from 31.9k to 35.9k. Howeverwe still do not know the permit fee from the county so it is likely going to be less.



Data Input Data In data input Data Input Calculation Calculation Calculation Calculatio CalculatActual

Time

Spent on

Tasks

(hours)

Actual

Cost

Equip.

Remaining

Equip.

costs

Labor

Rate

Actual Cost -

labor +

equipment

Earned

Value

Planned

Value CPI SPI

5 750 0 45 $975.00 $984.00 $896.25 1.01 1.10

24 450 0 150 $4,050.00 $4,725.00 $7,200.00 1.17 0.662000 0 $2,000.00 $2,000.00 $2,000.00 1.00 1.00800 0 $800.00 $800.00 $800.00 1.00 1.00500 $500.00 $500.00 $500.00 1.00 1.00

24 3750 0 150 7350 8025 10500 1.09 0.76



Calculation Calculation Input Input Calculation

Estimated

cost at

project

Completion

Estimated

Time for

Completion

(days)

Number of

Resources

Business

Days

Worked

Business

Days to

Completion

$1,218.75 0.74

$11,677.57 9.81



Cash Flow SummaryLow Average High PERT

February 6480 7200 7920 7,200March 16250 37160 50450 35,890April 48350 66300 92050 67,600May 32155 64310 96465 64,310June 10750 21500 32250 21,500

113985 196470 279135 196,500

budget with earned value for feb

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