As reported today, Enterprise PM Solution has the following information $($all information is cumulative project totals in thousands of dollars$)$:

earned value $($EV$)=360,$ actual cost $($AC$)=320,$ planned value $($PV$)=345$

Answer the following questions:

$(6$ pts$.)$ Calculate SV and CV$.$

$(6$ pts$.)$ Calculate CPI, and SPI.

$(6$ pts$.)$ How is the project doing in terms of schedule and budget? Comment on the status of this project.

$(6$ pts$.)$ Assuming that the baseline budget for the entire project $($BAC$)$ is $800,$ estimate the final project cost by calculating the Estimated Cost at Completion $($forecasted$),$ i$.$e$.,$ EACf $,($NOT EACre$)$

$(6$ pts$.)($general discussion, no calculation necessary$)$ Sometimes, AC is greater than PV$.$ Does it always mean project cost overruns?$$ What are the possible causes for AC to exceed PV$?$