please help, project management. I need part D,Eand 2 1) Given the following information for a one-year project, answer the following questions. Recall that PV is the planned value, EV is the earned value, AC is the actual cost, and BAC is the budget at completion. PV=$22,000 EV=$20,000 AC=$25,000 BAC=$120,000a) What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project? Show your calculations.b) How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget? Explain.c) Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned? Explain.d) Use the SPI to estimate how long it will take to finish this project.e) Sketch the earned value chart for this project.2) Write a one-page summary explaining how is project cost management different when using an Agile approach? Make sure to document any cited references. ### Understanding Project Cost Analysis#### Calculation of Estimated Costs:1. **EAC (Estimate at Completion) Formula:** \[ \text{EAC} = \frac{\text{BAC}}{\text{CPI}} \]2. **Given Values:** - **BAC (Budget at Completion):** $120,000 - **CPI (Cost Performance Index):** 0.83. **Calculation:** \[ \text{EAC} = \frac{120,000}{0.8} = 150,000 \]### Analysis Result:- **Comparison:** If EAC > BAC, it indicates that the estimated total cost at completion is greater than the budgeted amount.- **Conclusion:** The project is not going as planned. ## Earned Value Management (EVM) Analysis### a) Calculations#### Cost Variance- **Formula**: Cost Variance = Earned Value - Actual Cost- Calculation: - Earned Value = $20,000 - Actual Cost = $25,000 - Cost Variance = $20,000 - $25,000 = -$5,000#### Schedule Variance- **Formula**: Schedule Variance = Earned Value - Planned Value- Calculation: - Earned Value = $20,000 - Planned Value = $22,000 - Schedule Variance = $20,000 - $22,000 = -$2,000#### Cost Performance Index (CPI)- **Formula**: CPI = Earned Value / Actual Cost- Calculation: - Earned Value = $20,000 - Actual Cost = $25,000 - CPI = $20,000 / $25,000 = 0.8#### Schedule Performance Index (SPI)- **Formula**: SPI = Earned Value / Planned Value- Calculation: - Earned Value = $20,000 - Planned Value = $22,000 - SPI = $20,000 / $22,000 = 0.909### b) ConclusionThe project is over budget and behind schedule because the Estimate at Completion (EAC) is above the Budget at Completion (BAC).

Given, V=$22,000 EV=$20,000 AC=$25,000 BAC=$120,000

Answered: 1) Given the following information for…

Practical Management Science

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ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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please help, project management. I need part D,Eand 2

1) Given the following information for a one-year project, answer the following questions. Recall that PV is the planned value, EV is the earned value, AC is the actual cost, and BAC is the budget at completion. PV=$22,000 EV=$20,000 AC=$25,000 BAC=$120,000

a) What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project? Show your calculations.

b) How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget? Explain.

c) Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned? Explain.

d) Use the SPI to estimate how long it will take to finish this project.

e) Sketch the earned value chart for this project.

2) Write a one-page summary explaining how is project cost management different when using an Agile approach? Make sure to document any cited references.