1. On day 51 aproject has an earned value of $600, an actual cost of $650, and a planned costof $560. Compute the SV, CV, and CPI for the project. What is your assessmentof the project on day 51?

Answer:

(AC = 650) – (EV = 600) – (PC = 560)

CV (Cost Variance) = (EV – AC) = (600 – 650) = (-50).

SV (Schedule Variance) = (EV – PV) = (600 – 560) = (40).

CPI (Cost performance index) = (EV ÷ AC) = (600 ÷ 650) = (0.92).

i need to paraphrase it depend on the solution 

My assessment would be that the project is over budget (asindicated by negative CV). However, since SV is positive, it indicates thatproject is on schedule. A CPI of .92 indicates that the cost of completing theproject is higher than planned which is a bad condition.