Problem 2 Create a new Problem 2 worksheet and build up the Earned Value Management (EVM) model as discussed in the modules. Use the following values for the model variables:

Planned Value: $45,000

Actual Cost: $39,500

Earned Value: $43,500

Balance at Completion: $172,000

Original Time in Months: 14

a. Your model should calculate the Cost Variance, Schedule Variance, Cost Performance Index, Schedule Performance Index, Estimate at Completion and Estimated Time. Use conditional formatting to render any bad values red, good values green and 0 values yellow. b. Use FORMULATEXT to show any formulas that you use. c. What is the expected cost of the project and how long the project is expected to take to finish? What do you think about how well the project is doing time wise and cost wise? Type your answers on the same worksheet.