Earned Value Management technique is a method used to measure the project performance against the project baselines. It results from an earned value analysis indicating potential deviation of the project from the cost and/or schedule baselines.

You are currently managing a project of software development that has an $800,000 software development effort. There are two teams of software programmers that will work for six months for a total of 10,000 hours. According to the project schedule, your team should be done with 38% of the work. As of today, the project is 40% complete while 50% budget has been used.

Calculate the following and comment on your project status above.

a) AC

b) PV

c) EV

d) CV

e) CPI

f) SV

g) SPI