Situation:

You are the Project Manager at an industrial complex. You are expecting to spend a total of $$53,000$ on your existing project. When you checked the plan, you find out that it says $$Six people working on the project eight hours a day, five days a week for five weeks$.$ When you checked the schedule, you find out that your team has just finished the third week of the project. Upon careful review, you see that the team has completed $55\%$ of the work, at a cost of $$29,000.$

Questions:

$1.$ Calculate the Earned Value. $(9$ points$)$

PV $=$

EV $=$

CV $=$

BAC $=$

AC $=$

SV $=$

SPI $=$

CPI $=$

$2.$ Check all of the following that apply:

$$ The project is ahead of schedule

$$ The project is behind schedule

$$ You should consider crashing the schedule

$$ The project is over budget

$$ The project is under budget

$$ You should find a way to cut costs $(6$ points$).$

$3.$ You must show the formulas you used from the text book. $(3$ points$)$

$4.$ Explain the role of EVA in project management. $(2$ points$)$