Earned Value Analysis (planned value, actual cost, and earned value)

Earned Value Analysis (planned value, actual cost, and earned value)
You are given the following information for a one-year project: Planned Value (PV) = $23,000, Earned Value (EV) = $20,000, Actual Cost (AC) = $20,000, and
Budget at Completion (BAC) = $120,000.
Answer the five questions below to complete your assignment. Reference the same question numbers in your response. Non-conforming submissions will
not be graded.

1. For this one-year project calculate:
   a. cost variance,
   b. schedule variance,
   c. cost performance index (CPI), and
   d. schedule performance index (SPI).
2. Explain your assessment on how the project is doing: Is it ahead or behind schedule? Is it under or over budget? Use all of the calculated variances and
   indexes from above to support your argument. [50-100-word response.]
3. Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned? Why? [50-100-word
   response.]
4. Estimate how long it will take to finish this project using SPI.
5. Depict a sketch showing the relationship between PV, AC, EV, BAC, and EAC. Interpret the sketch explaining on-budget (cost) and on-time (schedule)
   progress of the project. This sketch is not based on the data calculated here. Instead draw a free hand sketch and describe the PV, AC, and EV relationship
   you drew. You may take a picture of your free-hand sketch and copy/paste in the assignment. In your narrative clearly indicate if the project represented by
   your sketch is above, below, or on budget and ahead, behind, or on schedule. [75-150-word response.]