Add Page Insert Table Chart Text Shape Media Comment IV. Assume that your project team started an IT project on 01/01/2019. The total budget for the project is $1,200,000, and it was originally planned to be completed on 12/31/2020, and you plan to spend the money evenly across 24 months. The project WBS contains 120 activities, you plan to complete 5 activities per month at $10,000 per activity. On 12/31/2019, you find out that your team spent $640,000 to get 48 activities completed. Please conduet an Earned Value Analysis and answer the following questions (30 points): a. What is the Planned Value(PV), Actual Cost(AC), EV(Earned Value) of the project? b. What is the cost variance(CV) and cost performance index (CPDfor the project? c. What is the schedule variance(SV) and schedule performance index (SPI) for the project? d. How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over bud- get? e. Use the CPI to calculate the estimate at completion (EAC) for this project. f. Use the schedule performance index (SPT) to estimate how long it will take to finish this project. 22