Problem:
Question 1) Find the schedule and cost variances for a project that has an actual cost at month 22 of $540,000, a scheduled cost of $523,000, and an earned value of $535,000. What is your overall interpretation of this result?
Question 2) A sales project at month 5 had an actual cost of $34,000, a planned cost of $42,000, and a value completed of $39,000. Find the cost and schedule variances, the CPI, and the SPI. What is your overall interpretation of this result?
Question 3) A software development project at day 70 exhibits an actual cost of $78,000 and a scheduled cost of $84,000. The foreman estimates a value completed of $81,000. What are the cost and schedule variances and the CSI? Estimate the time variance. What is your overall interpretation of this result?
Solve the given numerical problem and illustrate step by step calculation.