John is the Project Manager for a an Application development project. The time duration for the project as agreed upon with all the Stakeholders is $12$ months. The allocated budget for the project is $$600,000.$ This budget is expected to be evenly distributed during the life of the project. The project has just completed $3$ months and entered $4$th month of execution. At the end of $3$ months, the actual cost incurred on the project is $$175,000$ and the project is $30\%$ complete.

Is this project behind schedule?

True

False