A project has the following financial details:

• Budgeted Costs: $600,000
• Actual Costs: $620,000
• Planned Value (PV): $580,000
• Earned Value (EV): $570,000

Questions:

1. Calculate the Cost Variance (CV) and Schedule Variance (SV).
2. Determine the CPI and SPI.
3. Discuss what these financial ratios indicate about the project’s performance.