You are a project manager for a construction project budgeted at $750,000. As of today, the project should be 45% completed but after reviewing the status of the scheduled tasks involved in the project it is evident that only 25% of the work has been completed. The team has spent $200,000 thus far.

Answer the following questions:

1. Describe the formula for each equation and provide the answer

1. Determine Earned Value (EV)
2. Determine Planned Value (PV)
3. Determine Cost Performance Index (CPI)
4. Determine Schedule Performance Index (SPI)
5. Cost Variance (CV)
6. Schedule Variance (SV)

2. What does this data tell you?