Is the project on schedule? You are managing a project to expand a major county road in your area. The project is expected to take 1 year, and the expenses are budgeted to be $12,500 per month. Six months after the project started, you find out that the project is 50% complete and that you have spent $70,000. Based on the values below, is the project ahead of schedule, on time, or behind schedule? Item Value BAC =12*12,500 = $150,000 PV $75,000 EV $75,000 AC $70,000 CV = EV-AC $5,000 SV = EV - PV $0 CPI = EV/AC 1.07 SPI = EV/PV 1 EAC = BAC/CPI $140,186 ETC = EAC-AC $70.186 VAC = BAC-EAC $9813 TCPI (Cost) = (BAC-EV)/(BAC-AC) 0.94 The project is ahead of schedule because PV matches EV. Correct! The project is exactly on schedule because SPI = 1. The project is behind schedule because TCPI is less than 1. The project is ahead of schedule because SPI = 1