A project involves the design and building of four software modules, called A$,$ B$,$ C$,$ and D respectively. The estimated effort for each of the modules is $20$ days for A$,18$ for B$,15$ for C and $12$ for D respectively.

The firm that is undertaking the work assumes for the purpose of earned value analysis $($EVA$)$ that design takes up $30\%$ of the effort, coding $40\%$ and testing $30\%.$

On the day that this EVA is conducted, the modules A$,$ B$,$ and C should have been

completed in full. In fact, the situation is as follows:

i$)$ Explain what is meant by planned value $($PV$),$ earned value $($EV$),$ and actual cost $($AC$)$ in EVA.

ii$)$ Calculate the PV$,$ EV$,$ and AC for the above project based on its current status $($i$.$e$.,$ on the day of the EVA$)$ given in Table $3.$

iii$)$ For the project in Table $3,$ calculate the

a$)$ Schedule and cost variances

b$)$ Cost performance and schedule performance indicator

iv$)$ What general conclusions might be drawn from the above figures about the overall state of the project?

v$)$ If a project is behind schedule and$/$or over budget, what could be done to get it back on target? Discuss the impact $($undesired effects$)$ of the suggested actions.