(b) A software project ePay is scheduled for 15 months with a budget of \(\$ 200,000\). The current status of the project at the end of the 6th month is given as: the actual cost to date is \(\$ 120,000\); so far \(45\%\) of the project has been completed. Assume that the planned value is linearly distributed throughout the project, and the cost and schedule performance index, remain the same. (i) Are you able to tell whether the project is on schedule? Briefly justify your answer. (ii) Based on the current status, whether the budget is sufficient to complete the project? if not, how much additional budget is needed? (iii) How much additional time needs to be requested for the project completion based on the current status? Briefly justify your answer. (iv) Highlight the rationale of having two metrics namely cost performance index (CPI) and cost variance (CV) for cost efficiency analysis.