Assume that ABC Company has invested a budget of 10 million riyals for XY project and planned to complete it in 10 months. Let's also assume that the company planned to spend the budget equally in each month.
However, when the first two months has passed, the project manager has found out that the total of one million riyals spent. Suppose RP=0.25
Based on the above scenario, answer the following:
a) What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?
b) How much will it actually cost the company to complete this project, and how long will it really take to complete it based on the performance to date?
c) What do you think of the project performance? over/under the budget? behind /ahead the schedule? Justify your answer.