Question 2. Earned Value Analysis Perform an earned value analysis using the data in the table below. The project has a 12-month duration and a budget of 250,000. Data are provided for a project review after the first 6 months are completed. Activity January Feb March April May June 6,000 5,000 Planned % Earned Value Completed Value 11,000 100% ? 9,000 100% ? 3,000 6,000 Staffing Blueprinting Prototype development Full Design 2,000 8,000 10,000 60% ? 4,000 6,000 10,000 20,000 50% ? Construction 2,000 35,000 37,000 15% ? Transfer 6,000 6,000 0% ? ? ? TOTAL Monthly plan 6,000 10,000 14,000 4,000 8,000 51,000 Monthly 6,000 12,000 15,000 4,000 10,000 52,000 Actual Using the formulas provided, calculate the following: a) Planned Value (PV) [1 mark] b) Earned Value (EV) [1 mark] c) Actual Cost (AC) [1 mark] d) Cost Variance (CV) [2 marks] e) Schedule Variance (SV) [2 marks] f) Cost Performance Index (CPI) [2 marks] g) Schedule Performance Index (SPI) [2 marks] h) Budget at Completion (BAC) [1 mark] i) Estimate at Completion (EAC) [2 marks] j) Estimate to complete (ETC) [2 marks] k) is the project on time and within budget? Justify your answers using the appropriate indicators above. [4 marks] Formulas CV = EV - AC = BCWP - ACWP; SV = EV - PV = BCWP - BCWS; CPI = EVIAC = BCWP/ ACWP; SPI = EV/PV = BCWP/BCWS; EAC = BAC/CPI = BAC/(BCWP/ACWP); ETC = EAC-AC = EAC - ACWP