Question: TASK 3 (EARNED VALUE MANAGEMENT) - 10 MARKS Given the following information for a 12month project that is 2 months into development, answer the following

TASK 3 (EARNED VALUE MANAGEMENT) - 10 MARKS Given

TASK 3 (EARNED VALUE MANAGEMENT) - 10 MARKS Given the following information for a 12month project that is 2 months into development, answer the following questions. Recall that PV is the planned value, EV is the earned value, AC is the actual cost, and BAC is the budget at completion. PV = $22,000 EV = $20,000 AC = $25,000 BAC = $120,000 a. What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project? (2 marks) b. How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget? (2 marks) c. Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned? (2 marks) d. Use the SPI to estimate how long it will take to finish this project. (2 marks)

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