An activity on the critical path of a project was scheduled to be completed within 12 weeks, with a budget of $8,000. During a performance review, which took place 7 weeks after the activity was initiated, it was found that 50% of the work had already been completed and that the actual cost was $4,500. a) Calculate the EV of the activity.
b) Calculate the cost performance index (CPI) and schedule performance index (SPI).
c) Calculate the expected Budget at Complete (BAC) using the initial estimate approach.
d) Calculate the BAC using the revised estimate approach.
e) Compare and discuss the results obtained in parts (c) and (d).