(b) You are managing a second project that has the same time and cost specifications as those in Question 1(a) which is 40% complete at the status date, when actual cost is RM350,000. The specifications are as below: Budgeted Actual Cost (BAC) of RM1,000,000 Schedule to complete is 12 months At the Status Date, the project has the following characteristics: Planned value (PV) RM300,000 Actual cost (AC) RM350,000 Percentage of work completed 40% Calculate the following quantities: Earned Value (EV) 14 marks Cost Variance (CV) 3 marks Schedule Variance (SV) 3 marks Cost Performance index (CPI) 3 marks Schedule performance index (SPI) 3 marks Using your results, apply the three formulae listed for the 6 marks calculation of the Estimate Actual Cost at Completion (EAC) of the project. 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) (b) You are managing a second project that has the same time and cost specifications as those in Question 1(a) which is 40% complete at the status date, when actual cost is RM350,000. The specifications are as below: Budgeted Actual Cost (BAC) of RM1,000,000 Schedule to complete is 12 months At the Status Date, the project has the following characteristics: Planned value (PV) RM300,000 Actual cost (AC) RM350,000 Percentage of work completed 40% Calculate the following quantities: Earned Value (EV) 14 marks Cost Variance (CV) 3 marks Schedule Variance (SV) 3 marks Cost Performance index (CPI) 3 marks Schedule performance index (SPI) 3 marks Using your results, apply the three formulae listed for the 6 marks calculation of the Estimate Actual Cost at Completion (EAC) of the project. 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)