Project Management Analysis for Industrial Complex: Earned Value, Schedule, and Budget Assessment

Assignment Task

Situation:
You are the Project Manager at an industrial complex. You are expecting to spend a total of $58,000 on your existing project. When you checked the plan, you find out that it says "Six people working on the project eight hours a day, five days a week for five 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 51% of the work, at a cost of $27,000.
Questions:
1. Calculate the Earned Value.
PV=
EV=
CV =
BAC=
AC =
SV=
SPI =
CPI =

2. 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.

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