You and your team are continuing your work on the Global Treps Project. Your project sponsor, Dr. K., has asked you to refine the existing cost estimate for the project so you can evaluate supplier bids and have a solid cost baseline for evaluating project performance. Recall that your schedule and cost goals are to complete the project in six months for under $120,000. You planned to use up to $50,000 total to pay yourself and your team members, and your initial estimates were $30,000 for travel expenses, $20,000 for hardware and software, and $20,000 for organizing four events, including consultants, legal/business fees, etc.

Assume that you have completed three months of the project. The BAC was $120,000 for this six-month project. You can also make the following assumptions:

PV = $60,000

EV = $55,000

AC= $50,000

Sketch an earned value chart using the information from your answers to parts a through d. Use Figure 7-6 as a guide.