Consider a simple project in which four activities describe the basic tasks. This projec...

Consider a simple project in which four activities describe the basic tasks. This project is presented here as a bar chart drawn as a timescaled schedule. The sum of the amounts for the activities in the schedule of values approximates the originally anticipated cost of the project. Project duration is 5 weeks.

After 3 weeks, the following has been accomplished:

Activity A 100 percent complete, total cost $900

Activity B 40 percent complete, cost to date $1,400

Activity D 50 percent complete, cost to date $1,500

For this project, using earned value concepts, determine the schedule variance and the cost variance. State if the project is over or under budget and if it is ahead of or behind schedule