The Lunar Gateway is an international collaborative project led by NASA, aiming to establish a small spaceship in orbit around the Moon. The Gateway will support scientific research and demonstrate the technologies needed to explore Mars and beyond.

As an integral part of the Artemis program, the Lunar Gateway project was envisioned as a cornerstone of future deep space exploration. The project includes partners from Canada, Europe, and Japan, making it a truly international endeavor.

As of July $2023,$ the Lunar Gateway project is already underway. It was initially scheduled to span five years with an estimated budget of $$10$ billion. Now, at the end of year two, the project's financial situation and progress are under review.

Current Project Data:

$-$ The Planned Value $($PV$)$ by the end of year two was $$4$ billion, i$.$e$.,40\%$ of the total budget was planned to be spent by this time.

$-$ The Earned Value $($EV$)$ or the value of the work actually completed at the end of year two stands at $$3\mathrm{.}5$ billion.

$-$ The Actual Cost $($AC$)$ or the total cost that has been incurred for the work performed by the end of year two totals $$4\mathrm{.}5$ billion.

Given these figures, the project management team is concerned. The project seems to be costing more than planned while accomplishing less than expected.

As a crucial part of the project review, you, as the project manager, have been tasked to evaluate the current situation, determine the project's cost performance, and suggest corrective actions if necessary.