Project status report

The project is 58% complete. The project has a total earned value of 63.8 as at period 6. The project is 24.2 over budget as calculated from the planned value of the whole project. The completion forecast of this project is around 160.3 meaning that this project will be completed with an excess of 50.3 if the progress in constant with the actual cost maintaining the same pace. The project can cut down the rising cost if they can consider factors such as time which means that there will be less spending if the time used is less and vice versa. Below is a complete table of calculation of the project status.
All values are in ($000)
The actual cost of the project is obtained from the performance summary which is 93.
The earned value of the project is calculated as
%complete of the BAC which is the planned value.
= 58% of 110
= o.58 of 110
= 63.8
To know the over budget,
Create a relation of the values.
% complete = actual cost (AC)
What is the AC at completion?
58%=93 what is 100%
9300/58
AC at completion =160.3
Therefore, the over-budget = CA at completion – PV of the project
= 160.3-110
=50.3
The project has used 24.2 more up to date.
This is calculated by,
= AC-EV
= 93-63.8
=24.2

Below is a complete table of the performance indices table.
6286502419350
Task%($000)
350520016065502057400167005628650157480002571750167005031146751670050 CompleteEVACPVCVSV
A100% 40354050
B85%27.224323.2-4.8
C60%14.42424-9.6-9.6
D0% 006-6-6
62865024701500E45%3.

6108-6.4-4.4
Cumulative Totals 85.593110-13.824.8

Reference
Usmani, F. (2018). Planned Value (PV), Earned Value (EV) & Actual Cost (AC) in Project Cost Management. PM Study Circle. Retrieved 5 April 2018, from https://pmstudycircle.com/2012/05/planned-value-pv-earned-value-ev-actual-cost-ac-analysis-in-project-cost-management-2/