Earned Value Earned Value: The following seven activities constitute an overall bar chart portrayal of a 5-month project schedule (planned). Month 2 Month 3 Month 4 Month 5 Activity A Month 1 $7,500 $7,500 B $7,500 $20,000 Cost $7,500 $15,000 $20,000 $20,000 $10,000 $25,000 $12,500 D $20,000 $5,000 E F $5,000 $12,500 $6,250 $12,500 $6,250 G After 3 months from the start of the construction, activities A, B and C are complete and activities D and E are halfway complete for a total cost to date of $59,000. Evaluate the status of the project using earned value concepts. a. Determine the schedule variance, cost variance, schedule performance index and cost performance index. SV = CV = SPL = CPI = b. What is the project budget status? c. What is the project schedule status