A Hospital Management System Development Project has a budgeted cost of Rs. 11,900,000/-. The project is to be completed in 11 months. After 4 months, you have completed 24 percent of the project at a total expense of Rs. 1,475,000/-. You, as a Project Manager, needs to submit the monthly performance report to the Steering Committee. Based on EVM methodology, please identify the current progress of the Project.

1. Find Budget at Completion (BAC), Actual Cost(AC), Planned Value (PV) and Earned Value (EV).
2. Calculate the Project Health by finding values of Schedule Variance (SV), Schedule Performance Index (SPI), Cost Variance (CV) and Cost Performance Index (CPI). What these value shows?
3. If the project continues at the current pace, what will be the true cost of the Project or Estimate at completion of the project.

What actions, You would suggest or take as a Project Manager, to keep the budget and time under control.

project management Question