Cumberlands Cost Performance Analysis and Time Development Discussion

You are a project manager for a construction project budgeted at $750,000.  As of today, the project should be 45% completed but after reviewing the status of the scheduled tasks involved in the project it is evident that only 25% of the work has been completed.  The team has spent $200,000 thus far. 

Answer the following questions: 

1. Describe the formula for each equation and provide the answer

Determine Earned Value (EV)

Determine Planned Value (PV) 

1. Determine Cost Performance Index (CPI)
2. Determine Schedule Performance Index (SPI) 
3. Cost Variance (CV)
4. Schedule Variance (SV) 
5. 2.  What does this data tell you? 
6. Assignment Guidelines

The assignment is to answer the question provided above in essay form.

Where applicable students can include diagrams if it will help provide a pictorial view of the solution.   

This is to be in narrative form and should be as thorough as possible.

1. Bullet points should not be used. 

Utilizing at least one outside scholarly or professional source related to project management. The textbook should also be utilized.

1. Do not insert excess line spacing.