Examine the following EVM data for the Acme project, a hypothetical construction project, to view information on the past and future performance:
*Cumulative planned value (PV) = 550
*Cumulative earned value (EV) = 475
*Cumulative actual cost (AC) = 525
*Budget at completion (BAC) = 1000
After evaluating the Acme project, do the following:
1. Calculate the cost variance (CV), schedule variance (SV), cost performance index (CPI), and schedule performance index (SPI). Using these four metrics, briefly explain whether the project is ahead or behind for cost and schedule performance.
2. Using the results from the first question, calculate the Estimate at Completion (EAC) and Variance at Completion (VAC). Analyze the results and explain whether the project is likely to overrun or under run the baseline plan and by how much.
*Make sure that you include formulas in the spreadsheet so that calculations can be checked!