You are managing a project with an estimated budget at completion of $$500,000.$ According to the schedule, your team should have completed $40\%$ of the work by now. The most recent calculations show the work is $35\%$ done and the project has cost $$225,000$ so far. Your sponsor asks you about the status of the project. What should you tell them?

You are managing a project with an estimated budget at completion of $$500,000.$ According to the schedule, your team should have completed $40\%$ of the work by now. The most recent calculations show the work is $35\%$ done and the project has cost $$225,000$ so far. Your sponsor asks you about the status of the project. What should you tell them?

The project is behind schedule and over budget

The project is ahead of schedule and over budget

The project is under control

The project is behind schedule and under budget

The project is ahead of schedule and under budget