You are having a hallway conversation with the same project analyst who is now realizing that he may not know as much about earned value management as he thought when he joined the company. Still, he is convinced that the following statements below are correct. How would you respond to him based on each statement (i.e., formulate a specific response and supporting rationale for each statement below)?

1. EAC becomes Cumulative AC at project completion.
2. Cumulative EV can be greater than BAC at project completion.
3. EAC can be smaller than BAC at project completion.