1. Given the following information for a one-year project, answer the following questions. Note that PV is the planned value, EV is the earned value, AC is the actual cost, and BAC is the budget at completion.

PV = $22,000

EV = $20,000

AC = $25,000

BAC = $120,000

Sketch the earned value chart for this project, using the picture below as a guide.

Estimate at completion (EAC) 120,000 Budget at completion (BAC), 100,000 An EAC point above and to the right of the BAC point means the project is projected to cost more and take longer than planned 80,000 Planned value (PV) $ 60,000 40,000 | Actual cost (AC). Earned value (EV) 20,000 - N- TI 1 2 3 4 5 6 7 Month 8 9 10 11 12 13 ---- Actual cost (AC) Planned value (PV) --- Earned value (EV)