Assume you have completed three months of the project and have actual data. The BAC was $500,000 for this six-month project. Also assume the following: PV $160,000 EV $150,000 AC $180,000 Using this information, write a short report that answers the following questions. a. What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project? b. Use the CPI to calculate the estimate at completion (EAC) for this project. Use the SPI to estimate how long it will take to finish this project. Sketch an earned value chart using the above information, including the EAC point. See Figure 7-6 as a guide. Write a paragraph explaining what this chart shows. c. How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget? Should you alert your sponsor or other senior management and ask for assistance?