You are the project manager for a software development project that has a budget of $1M. Your client has asked you for a status update on the project. Through your recent monitor and control activities, you have established that your Planned Value was $300,000 and the Schedule Variance is +$10,000. You have spent $350,000 on the project so far. Is the project moving ahead on-time? Explain how you determined this. Is the project spending within budget? Determine using CV or CPI. By the time the project will complete, what will be the difference between budget and actual cost, i.e. VAC?