Assume you have completed three months of the project FG. The Budget at Completion (BAC) was 200,000 for this six-month project. Also assume the following:
- Planned Value (PV) = $ 120,000
- Earned Value (EV) = $ 60,000
- Actual Cost (AC) = $ 90,000
1. Calculate the following:
Cost Variance (CV) =?
Schedule Variance (SV) =?
Cost Performance Index (CPI) =?
Schedule Performance Index (SPI) =?
Estimated time to complete =?
2. Explain the meaning of the obtained results for all CV, SV, CPI, and SPI formulas in the above questions?
(Hint: CPI value is =1, means the cost of the project is on budget)