Question 1 Project Monitoring (Earned Value Analysis): You have been given a project to make 1,000 units of colouring pens over 50 days. You planned to produce at a steady rate of 25 pens per day. The budget cost per pen is 50p. The total project budget is 500. At the end of day 10 you have made 130 pens at a cost of 95 (AC). {Total 30 marks}

a. Calculate the Planned Value (PV) and the Earned Value (EV) of the project [5 Marks]

b. Calculate the Schedule Variance (SV) and the Schedule performance index (SPI) [5 Marks]

c. Calculate the Cost Variance (CV) and the Cost performance index (CPI) [10 Marks]

d. Calculate and explain the Estimate at Completion (EAC)