You are given the following information for a one-year project: Planned Value (PV) = $23,000, Earned Value (EV) = $20,000, Actual Cost (AC) = $20,000, and Budget at Completion (BAC) = $120,000.

Explain your assessment on how the project is doing: Is it ahead or behind schedule? Is it Page 6 of 8 IS8100-01 Fa2019 under or over budget? Use all of the calculated variances and indexes from above to support your argument. [50-100-word response.]