You are the Project Manager at an industrial complex. You are expecting to spend a total of $68,000 on your existing project. When you checked the plan, you find out that it says "Five people working on the project eight hours a day, five days a week for six weeks". When you checked the schedule, you find out that your team has just finished the third week of the project. Upon careful review, you see that the team has completed 50% of the work, at a cost of $37,000.

Questions:

1. Calculate the Earned Value. (9 points)

PV =

EV =

CV =

BAC =

AC =

SV =

SPI =

CPI =

1. Check all of the following that apply:

The project is ahead of schedule

The project is behind schedule

You should consider crashing the schedule

The project is over budget

The project is under budget

You should find a way to cut costs (6 points).

I get confused with the PV and BAC in particular.