Question: 4. Solve the problem below: Project duration - 1 year Project budget - 10K/month Should have completed 6 months of work by now, but in

4. Solve the problem below: Project duration - 1

4. Solve the problem below: Project duration - 1 year Project budget - 10K/month Should have completed 6 months of work by now, but in reality only 3 months of work completed Amount spent - 27K The formulas are: BAC - Budget at completion PV-Planned Value EV-Earned Value = (EV=BACX %complete) AC- Actual Cost SV - Scheduled Variance (SV=EV-PV) (an SV at zero indicates the project is exactly on schedule, negative is behind schedule and positive is ahead of schedule) CV-Cost Variance=(CV=EV-AC) (an CV at zero indicates the project is exactly on budget, negative is over-budget and positive is under-budget) SPI=Scheduled Performance Index (SPI=EV/PV) CPI- Cost Performance Index (CPI=EV/AC) EAC- Estimate at Completion (EAC=BAC/CPI) ETC - Estimate to Complete (ETC=EAC-AC) VAC - Variance at Completion (VAC=BAC-EAC)

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