Assignment: On April 8, one week before the first internal project review is scheduled to take place, Spencer
Tracey and Margaret Porter arereviewing the presentation that Spencer intends to make to their vice president. Spencer is the project manager and Margaret is the contractmanager. The project they are working on has the potential to generate 10 billion dollars over the next 7 years but only if the first year of theproject is successfully completed on time (December 31) and within budget ($110 million).At this point in April, the project is reporting out its status on the first 25% of the work. Spencer feels optimistic about the outcome. He plans toreport that the project is on track financially and is still tracking to plan. All tasks for January and February were completed on time; however, afew tasks in March began to slip. These tasks were caught early enough to implement a corrective action to ensure they finished on time. Duringthe 2nd and 3rd weeks of March, overtime was added to bring the past due tasks back in line with the schedule baseline.Based off this analysis, Spencer believes he will finish the project under budget at about $100 million dollars and on time. Margaretcongratulates Spencer on his success so far and asks if she can review the numbers more closely. Spencer agrees and provides her with thefollowing data:Margaret decides to add another column, which she calls the earned value (EV) analysis.Complete Margaret’s EV chart and answer the questions above based on the earned value analysis of the project. Fill in the missing data in theempty spaces.Work Unit CompletionDate$M Budget PlannedPercentCompleteActualPercentComplete$M ActualCostsA Jan 31 4 100 100 5B Feb 28 6 100 100 8C Mar 31 10 100 80 12D Jun 30 30 0 0E Aug 31 26 0 0F Oct 31 20 0 0G Nov 30 2 0 0H Dec 31 2 0 0Complete the following earned value calculations to determine the overall status of the project and projected outcome:(Please show your work)Cost Variance (CV) ________________________________________Schedule Variance (SV) ________________________________________Cost Performance Index (CPI) ________________________________________Schedule Performance Index (SPI) ________________________________________Estimate at Completion (EAC) _________________________________________Estimate to Complete (ETC) _________________________________________Work Unit CompletionDate$M Budget PlannedPercentCompleteActualPercentComplete$M ActualCostsEVA Jan 31 4 100 100 5B Feb 28 6 100 100 8C Mar 31 10 100 80 12To Date April 8 ———– ———-D Jun 30 30 0 0 ——— ———E Aug 31 26 0 0 ——— ———F Oct 31 20 0 0 ——— ———G Nov 30 2 0 0 ——— ———H Dec 31 2 0 0 ——— ———Variance at Completion (VAC) _________________________________________If you were Margaret, what would be your analysis of Spencer’s plan, current status, and probable outcome of the project? Is the project onschedule and on budget?