Question: IT PROJECT MANAGEMENT:EX 2.4 You have a project to be completed in 12 months, and the budget of the project is R100, 000. 6 months

IT PROJECT MANAGEMENT:EX

2.4 You have a project to be completed in 12 months, and the budget of the project is R100, 000. 6 months have passed, and R60, 000 has been spent., but on closer view you find that only 40% of work has been completed so far.

Given in question :

Actual cost (AC) =R60 000

Earned Value (EV) =40% of R100 000

=R40 000

Find the project's cost varience (CV) and determine if you are under budget or over budget. (10 marks)

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