A project segment consists of three tasks.$$ Task A is scheduled to begin at the start of Week $1$ and finish at the end of Week $3.$ Task B is scheduled to begin at the start of Week $1$ and finish at the end of Week $2.$ Task C is scheduled to begin at the start of Week $2$ and end at the end of Week $3.$ Budgeted cost for Task A is $$148,450,$ for Task B is $$121,000,$ and for Task C is $$93,900.$ A total of $$86,000$ is being carried for a contingency.$$ This project has a very high level of risk, supporting a risk factor of $35\%$ which equates to labor coverage of $$71,649.$ Coincidentally, labor costs are running approximately $15\%$ over budget due to project complexity.$$ At the end of week two, Task A is $50\%$ complete, Task B is $80\%$ complete, and Task C is $45\%$ complete.

Actual cost of work for tasks A$,$ B and C performed at the end of week two for project segment$$is $$151,000$ and none of your allocated risk factor funds have been used.$$ Labor costs remain over budget but are not getting worse.$$ Balance of your contingency fund remains strong with $$47,800$ of $$86,000$ remaining.$100$ percent of unused contingency is returned to the project owner.$$ Calculate cost performance index for project segment.$$ Indicate project budget status based on calculated CPI index.

$1\mathrm{.}4125$; Under budget

$1\mathrm{.}1355$; Over budget

$0\mathrm{.}9522$; Under budget

$0\mathrm{.}9522$; Over budget

$0\mathrm{.}8685$; Under budget