26) You are building a 4-sided fence. Each side is of equal length and you estimate that each side will contain the same material and labour costs as well as take the same amount of time to complete. You estimate that the project will take 8 days to complete and your budget, including a contingency reserve is P8,000. At the end of 6 days, you are asked to prepare an Earned Value calculation in order to determine how the project is progressing. You determine that as of the end of day 6 , total costs incurred are P7,000, and 70% of the project is completed. i. Determine Earned Value (EV) at the end of the six (6) days. [2 Marks] ii. Determine the Planned Value (PV) for the six (6) days. [2 Marks] iii. Determine the schedule variance (SV) and explain what your answer mean. [2 Marks] iv. Determine Schedule Performance Index (SPI) of the project and explain what your answer mean. [2 Marks] v. Determine the cost variance (CV) and explain what your answer mean. 26) You are building a 4-sided fence. Each side is of equal length and you estimate that each side will contain the same material and labour costs as well as take the same amount of time to complete. You estimate that the project will take 8 days to complete and your budget, including a contingency reserve is P8,000. At the end of 6 days, you are asked to prepare an Earned Value calculation in order to determine how the project is progressing. You determine that as of the end of day 6 , total costs incurred are P7,000, and 70% of the project is completed. i. Determine Earned Value (EV) at the end of the six (6) days. [2 Marks] ii. Determine the Planned Value (PV) for the six (6) days. [2 Marks] iii. Determine the schedule variance (SV) and explain what your answer mean. [2 Marks] iv. Determine Schedule Performance Index (SPI) of the project and explain what your answer mean. [2 Marks] v. Determine the cost variance (CV) and explain what your answer mean