Consider the following values for a one-year project: (Planned Value) PV= $23,000 (Earned Value) EV= $20,000 (Actual Cost) AC= $25,000 (Budget at Completion) BAC= $120,000 Create a Word and/or Excel document to record your answers to the following

Consider the following values for a one-year project:

(Planned Value) PV= $23,000

(Earned Value) EV= $20,000

(Actual Cost) AC= $25,000

(Budget at Completion) BAC= $120,000

Create a Word and/or Excel document to record your answers to the following questions:

a. What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for this project?

b. How is the project doing? Is it ahead of schedule or behind? Is it 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 this project.

e. Sketch the earned value chart based for this project, using figure 7-5 on page 274 as a guide.