4. The figures used in Earned Value Analysis provide measures to indicate the status of a project incorporating measures for time, cost and scope. The key values are Earned Value, Planned Value and Actual Cost. The following calculations have been made for a project: Budget at Completion (BAC) $220,000 Time Estimate 12 months Earned Value (EV) $75,000 Planned Value (PV) $60,000 Actual Cost (AC) $71,000 a) Calculate cost and schedule variances, cost and schedule performance indices, estimate to complete, estimate at completion and to complete performance index (5 marks) b) What do these figures indicate? (10 marks) c) If you are the Project Manager, what actions would you take based on these figures