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Sreeraj is in the middle of his project and is trying to evaluate his project performance. Up to this date he was supposed to complete

Sreeraj is in the middle of his project and is trying to evaluate his project performance. Up to this date he was supposed to complete the following work packages:A with a budget of $1000B with a budget of $3000C with a budget of 54000Steeraj has only completed A and B and not C. So far, he has spent $5000.
Option 1 The cost variance is $3,000
Option 2 The cost variance is -$1,000
Option 3 The cost variance is $1000
Option 4 The cost Variance is -$3,000

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