Lorelie has taken over a construction project which is 36% complete. The budget of the project for work to be done until today is $6 million. The project's planned duration is 3 years. The total budget of the project is $20 million. The amount spent by the project until today is 6.5 million. What does $6 million represent? a. Actual Cost b. Planned Value C. Earned Value d. Budget At completion. 1:39 pmWhich of the can following be calculated by using more than one formula based on Project Situations? a. PV - Planned Value b. EAC - Estimate at Completion C. BAC - Budget at Completion d. EV - Earned Value 1:39If you are managing a Project to be completted in 4 Months with an over all Budgetr of 100,000.00. After 3 months you are geting a negative schedule Variancle. What would be your next action. a. Try to find low cost solutions and strict cost controls b. Reduce your labor and manage with less resources. C. Expedite your work to finish your project on time. d. Slow down your work to finish your project on time. 1:39 pmMariella has taken over a hospital renovation project. Mariella wants to see the status of the project using EVM technique. The budget of the project for work to be done until today is $96 million. The value of the work done according to the schedule baseline is $97 million. using the EVM method. what is the status of the project? a. The project is ahead of schedule b. The project is behind schedule c. There is not enough data to reach a conclusion d The project is on time 1:39 pm Prashanth is working on a process improvement project, so that the service quality of walkin customer can be improved. The project aims to reduce the waiting time from the current 9.6 minutes to 6.5 minutes.The project is budgeted for $1.5 million. The project is 75% complete and the current estimate is that the wait time will improve to 7.5 minutes due to the work done so far. The project is having a remaining unspent budget of $0.5 million. What will 1 million represent for this project? a. Budget At Completion b. Earned Value c. Planned Value d. Actual Cost 139 pm Asif is working on a college renovation project. The project's baseline cost is $2.8 million dollar. There is a Managment Reserve of 0.2 million for this project. The project has so far spent $2.6 million. The current estimate is that the project will need another $0.4 million to complete. The planned duration of the project is 2 years. What will be your assessment of the project? a. The project is on Budget b. The project is Over budget c. The project is within budget d There Is not enough data to reach a conclusron 1:39 pm Shilpa is working on a process improvement project, so that the retail customer satisfaction can be improved. The project aims to reduce the waiting time from the current 9.6 minutes to 6.5 minutes. The project is budgeted for $1 million. The project is on schedule. The project is 75% complete and the current estimate is that the wait time will improve to 15 minutes due to the work done so far. The project is having a remaining unspent budget of $0.2 million. What will 0.75 million represent for this project? a. Actual Cost b. Planned lv'alue c. Budget At completion. d. Earned Value 139 pm Aileen is working on an online portal project. The project's baseline cost is $1.8 million dollar. There is a Managment Reserve of 0.2 million for this project. The project has so far spent $1.6 million. The current estimate is that the project will need another $0.6 million. The planned duration of the project is 2 years. What does 2 million represent for this project? a. Estimate At Completion b. Actual Cost c. Planned Value d Budget At completion. 1:39 pm Earned value Management is considered best to review Project Progress against a. Project Tripple Constraints and Base Lines b. Project Risks and Project Reserves c. Project Budget and Contingency Reserves d. Project Assumptions and Constraints 1:39 pm If you are managinga project and Negative Cost Variance has been calcultaed. What action will be appropraite to manage this project. a. Release some of your contingency funds to recover the project. b. Ask Management to release Management Reserve c. Release some of your resources to reduce Over all project Cost d Allowr some over time to recover the project. .139 pm