Q3 Consider the scenario in Figure Q3. a RM A project has just completed the third month of 12 month schedule. The planned budget for the project is 500,000. According to the project plan, RM 40,000 of the budget should have been completed in the first three months, where RM 50,000 has been completed. It has cost RM 60,000 to complete the work to date. Figure Q3 (a) Determine the financial effectiveness and efficiency of the project at the end of month 3. (5 marks) (b) Describe the status of the project in terms of its schedule. (5 marks) (c) Estimate the final project cost based on the past performance of the project. (5 marks) (d) Estimate the new duration of the project based on the ongoing current status of the project. (5 marks) Q3 Consider the scenario in Figure Q3. a RM A project has just completed the third month of 12 month schedule. The planned budget for the project is 500,000. According to the project plan, RM 40,000 of the budget should have been completed in the first three months, where RM 50,000 has been completed. It has cost RM 60,000 to complete the work to date. Figure Q3 (a) Determine the financial effectiveness and efficiency of the project at the end of month 3. (5 marks) (b) Describe the status of the project in terms of its schedule. (5 marks) (c) Estimate the final project cost based on the past performance of the project. (5 marks) (d) Estimate the new duration of the project based on the ongoing current status of the project