Earned Value Management $36.000.000 $33.000.000 $30.000.000 $27.000.000 524.000.000 $21.000.000 $18,000.000 $15.000.000 $12.000.000 $9.000.000 $6.000.000 53,000.000 SO 10 11 12 -Planned Value -Actual Cost A 12-month railway project that is planned to spend $3M per month for a total budget at completion (BAC) of $36M. The project is 2 months along and according to the planned vs. actual cost figures is underspent by 50%. We could assume therefore that the project is going well because it's costing less than planned But after 2 months of work, 10 % of work has been completed so "EV" is 10% of the total $36M budget, which is $3.6M. Budget at Completion (BAC): $36M Planned Value (PV) for 2 Months: $6M EV: $3.6M Actual Cost (AC): $3M Based on the given information, answer the following question (a), (b) and (c): (a) Compute the Schedule Schedule Variance (SV) and Cost Variance (CV) for the first 2 months. [5 Marks] [CO3, PO1, C3](b) Compute the Schedule Performance Index (SPI) and Cost Performance Index (CPI) for the project. [5 Marks] [CO3, PO1, C3] (c) Compute the Estimate at Completion (EAC), Estimate to Completion (ETC) and determine the project Time to Complete. [10 Marks] [CO3, PO1, C3] (d) Explain the TWO (2) applications of EVM [5 Marks] [CO3, PO1, C2]