1(b) You are managing a second project that has the same time and cost specifications as those in Question 1(a) which is 70% complete at the status date, when actual cost is RM700,000 The specifications are as below: Budgeted Actual Cost (BAC) of RM2,000,000 Schedule to complete is 12 months At the Status Date, the project has the following characteristics: Planned value (PV) RM600,000 Actual cost (AC) RM750,000 Percentage of work completed 70% Calculate the following quantities: Earned Value (EV) Cost Variance (CV) Schedule Variance (SV) Cost Performance index (CPI) Schedule performance index (SPI) Using your results, apply the three formulae listed for the calculation of the Estimate Actual Cost at Completion (EAC) of the project 4 marks 3 marks 3 marks 3 marks 3 marks 6 marks For each of these calculations (3 in total), calculate the To-Complete- Performance Index (TCPI). (3 marks) However, if the CPI value is greater than 1, the project is under budgeted. So, the To Complete Performance Index (TCPI) is given as:- TCPI = (BAC-EV)/(BAC-AC) [25 marks)