Task: Given the following information for a one-year project, answer the following questions: Recall that PV is the planned value, EV is the earned value, AC is the actual cost, and BAC is the budget at completion. PV = $23,000; EV = $20,000; AC = $25,000; BAC - $120,000
Question 1: What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project?
Question 2: How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget?
Question 3: Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned?
Question 4: Use the schedule performance index (SPI) to estimate how long it will take to finish this project.