A project manager is managing a project that consists in implementing an accounting application for a pet store. During a project performance review meeting, they presented the following figures:

$AC=$$$4,000,PV=$$$5,000,$ and $EV=$$$5,500.$ What does that indicate about the project?

Since both the CV and SV are positive, the project is under budget and ahead of schedule

These numbers are insufficient to calculate the project SPI and CPI

Since the CV is negative, the project manager has probably spent more than they initially planned to

Since the SV is negative, the project is behind schedule