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You have a wedding film production project that is scheduled to be completed in 10 days at a budgeted cost of $10,000. At the end
You have a wedding film production project that is scheduled to be completed in 10 days at a budgeted cost of $10,000. At the end of day 6 , you decided to do an analysis and it was determined that the job is 70% complete and you have already spent $6,500. Your Earned Value Analysis is assumed to have a baseline plan of a linear distribution rate. (a) Differentiate between an Earned Value Analysis (EVA) with Earned Value Management (EVM). (7 marks) (b) Determine your project's earned value on day 6. (2 marks) (c) Determine your project's schedule variance. Comment if your project is ahead, behind schedule or on time. (3 marks) (d) Determine your project's cost variance on day 6. Comment if your project is under, over budget or on budget. (3 marks) (e) Determine your project's SPI on day 6. (2 marks) (f) Determine your project's CPI on day 6 . (2 marks) (g) In reviewing the budget report of a project, you notice that spending on the project is running about 10 percent over plan. Evaluate if the project in trouble. Show your assessment with a suitable explanation
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