A project to build a new bridge seems to be going very well since the project is well ahead of schedule and costs seem to be running very low.
A major milestone has been reached where the first two activities have been totally completed and the third activity is 55% complete. the planners were only expecting to be 46% through the third activity at this time. the first activity involves prepping the site for the bridge. It was expected to cost $1330000 and it was done for only $1295000. the second activity was the pouring of the concrete.
This was expected to cost $11000000 but was actually done for $11200000. the third and final activity is the actual construction of the bridge superstructure. This was expected to cost a total of $8550000. To date they have spent $6900000 on the superstructure.
Calculate the cost and schedule variance and the schedule and cost performance indexes for the project.