Another project you are acting as associate PM is in the execution phase. It is an engineering project that has specific statements of work calling for parts, specifications, and acceptable tolerance levels, along with price, delivery, and other contracted terms. This project has a budget and schedule that is baselined and has a management reserve of 5%. Next week, you must present a status report of the project to the PMO and explain how you are managing the scope, timeline, and other aspects of the project. Summarize the state of the project