How can wil set up a scheduling variance

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Reference no: EM13227214

A. I count the number of Douglas Fir Christmas trees in the field (24,000).

B. Next, I agree on a contract lump sum for shearing with a crew boss for the whole field ($30,000).

C. When partial payment for work completed arrives (5 days later), I count or estimate the actual number sheared (6,000 trees). I take the actual as a percent of the total to be sheared, multiply the percent complete by total contract amount for the partial payment [(6,000 / $30,000 = 25%), (.25 x $30,000 = $7500)].

1. Is Wil over, on, or below cost and schedule? Is Wil using earned value?
2. How can Wil set up a scheduling variance?

Reference no: EM13227214

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