please help, project management, I need parts E and 2

e) Sketch the earned value chart for this project.

2) Write a one-page summary explaining how is project cost management different when using an Agile approach?

1) a)

The formula for the Cost variance is Earned value minus actual costs

Cost variance=20000-25000

Cost variance=-5000

The formula for the Schedule variance is Earned value minus the planned value

Schedule variance=20000-22000

Schedule variance=-2000 Cost performance index= dividing the Earned value by actual costs

Cost performance index=20000/25000

Cost performance index=0.80

Schedule performance index=dividing the Earned value by the planned value

Schedule performance index=20000/22000 Schedule performance index=0.91

1) b)

Here, I would look at the cost variance value, as cost variance value has a negative sign, so, I could conclude that This project is over-budgeted. Again, the Cost performance index is 0.80, so, I could conclude that we are actually getting $80 worth of work out of every 100 dollars that we have spent on this project, as this Cost performance index is less than one, so, It gives us a bad indication.

Again, Schedule variance has also a negative sign, so, we could conclude that Project is behind the schedule and the schedule performance index is 0.91, so, we could conclude that we are only progressing at 91 percent of the rate that we have planned.

1) c)

Here, Given BAC value is 120000 and CPI is calculated above, and CPI is 0.80

The estimate at completion for this project would be =BAC/CPI

The estimate at completion for this project would be =120000/0.80

The estimate at completion for this project would be =150000

Here, from the above calculation, I could see that the EAC value is higher than the BAC value, so, I could conclude that this project is performing worse than planned.

1)d)

Here, SPI value=0.91, Ideally, Project should take 12 months to complete, In reality, the project would take 12 Months/SPI=12/0.91=13.186 or almost 13 months to complete.