Question $3$

$[15$ Marks$]$

Consider a project that involves making $10$ similar dinner tables over $10$ weeks for a Total Budgeted Cost $($TBC$)$ of $N$$$250,000.$ This translates to $N$$$25,000$ per dinner table and one table per week. At the end of week $5,$ you determine that $N$$$125,000$ has been spent and $6$ tables have been made.

Determine the following:

What is the earned value at week $6?$

What is the cost variance at week $6?$

What is the cost performance index of this project at week $6?$

Calculate the forecasted cost at completion at week $10.$

Is the project forecasted to over$-$run the or under$-$run the budget at completion?