A fence 18 feet by 18 feet is being built for $72,000.00 in 4 weeks. During week 2, 30’ feet has been completed and & $36,000.00 has been spent. Calculate the following: • Estimate to Completion (ETC) • Variance at Completion (VAC) • To Complete Performance Index (TCPI).

A fence 18 feet by 18 feet is being built for $72,000.00 in 4 weeks. During week 2, 30’ feet has been completed and & $36,000.00 has been spent. Calculate the following: • Estimate to Completion (ETC) • Variance at Completion (VAC) • To Complete Performance Index (TCPI).

Traffic and Highway Engineering

5th Edition

ISBN:9781305156241

Author:Garber, Nicholas J.

Publisher:Garber, Nicholas J.

Chapter12: Forecasting Travel Demand

Section: Chapter Questions

Problem 14P

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Concept explainers

Budget Estimating

The term budget signifies a plan over the long run, generally, a year that covers the financial expenses and revenues of any organization. This budget plan is known to estimate the growth and success of any organization. Civil engineering companies utilize project budgets for estimating project costs, construction costs, and other direct and indirect costs related to the project being undertaken. Project budget is a detailed statistical tool primarily used by project managers to estimate the overall project cost. The project budget is in the form of a document that includes all the costs which are incurred during the project undertaking and after the completion of the project. Large commercial projects have the project budget estimate in the form of large detailed pieces of documents which include every cost estimate regarding man and materials. Labor costs, material procurement costs, construction costs, and operational costs are some of the costs that are incurred during the project execution and planning phase.

Question

A fence 18 feet by 18 feet is being built for $72,000.00 in 4 weeks. During week 2, 30’ feet has been completed and & $36,000.00 has been spent. Calculate the following:
• Estimate to Completion (ETC)
• Variance at Completion (VAC)
• To Complete Performance Index (TCPI).

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