SIMULATION: Earned value management involves calculating three values for each activity or summary activity from the project's WBS: 1 The planned value (PV) is the authorized budget assigned to scheduled work. Suppose that a project included a summary activity of purchasing and installing a new web server. Suppose further that, according to the plan, it would take one week and cost a total of 510,000 for the labor hours, hardware, and software. 2 The actual cost (AC) is the realized cost incurred for the work performed on a activity during a specific time period. For example, suppose that it actually took two weeks and cost 520,000 to purchase and install the new web server. Assume that 515,000 of these actual costs were incurred during week 1 and 55,000 was incurred 3 The earned value (EV) is the measure of work performed expressed in terms of the budget authorized for that work. It cannot be greater than the authorized PV budget for a component as it is calculated as the sum of the PV of the completed work. Based on the assumptions above, please list the earned value calculations for on activity after week 1. Activity Week 1 1 Earned Value (EV) 2 Planned value [PV) 3 Actual cost [AC) 4 Cost variance [CV) 5 Schedule variance (SV) 6 Cost performance index (CPI) 7 Schedule performance index (SPI)