Question: Q4: Earned Value (8 marks) Earned value (EV) is a way to measure and monitor the level of work completed on a project against the

Q4: Earned Value (8 marks) Earned value (EV) is a way to measure and monitor the level of work completed on a project against the plan. Earned value (EV) is a way to measure and monitor the level of work completed on a project against the plan. You are a project manager of a project to build machines. Your project is scheduled to last for 12 months with the following characteristics: You are to build two machines a month for 12 months. Each machine is planned to cost $100. It is the beginning of month 10. You have built 20 machines and your CPI is 0.87. Answer the following questions: What is the actual cost of the project? If the variance experienced so far were to stop, what is the projects estimate at completion? What is the percentage of the project that is complete? Why the project is over-budget and ahead schedule?

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