Amy’s project is to produce 300 widgets and is scheduled to take five weeks. Each unit is planned to cost $90. The project is severely cost constrained. Performance data for the project at the end of week three is presented below:

190 total units were planned to be produced

200 units have actually been produced

The financial manager reported that the business had actually spent $15,000 on the project by the end of week three.

Answer the following questions; show all work:

1. Quantify cost variance. Is the project ahead or behind budget?

2. Quantify schedule variance. Is the project ahead or behind schedule?

3. Quantify cost performance efficiency. Is the project performing better or worse than planned?

4. Quantify schedule performance efficiency. Is the project performing better or worse than planned?

5. What is the forecast of project cost at completion assuming current cost performance efficiency remains the same? How much budget variance is expected at completion?

6. What is the forecast of funding needed to complete the project (from this point forward)?

7. What cost performance efficiency would be required for the remainder of the project to complete the project within the original budget?

8. As the project financial manager, what recommendations would you make?