Given the information below for a one year project please help with the questions that follows:
PV is Planned Value
EV is Earned value
AC is actual cost
BAC is budget at Completion
PV = $23,000
EV = $20,000
AC = $25,000
BAC = $120,000
a. What is the cost variance, schedule variance and cost performance index (CPI), and schedule performance index (SPI) for the project?
b. How is the project doing? Is it ahead of schedule or behind schedule? It is under budget or over budget?
c. Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?
d. Use the schedule performance index (SPI) to estimate how long it will take to finish the project.