RProblem Assignment (Project Control) #1) Data for a project is given below. (Months) Budget OR Activity Duration Plnd. Cost (thousands) % Completed A 2.00 15.00 1.00 B 1.00 5.00 1.00 C 2.00 10.00 1.00 D 3.00 21.00 0.50 E 2.00 32.00 0.50 F 1.00 5.00 0.50 G 1.00 5.00 0.50 NOTE: 1. The project started on February 1st and is (currently) at the end of June. 2. The project has a planned duration of 6 months. 3. The table below provides Planned Cost (in thousands) for each activity (A through G) for the months of February through July. 4. The table below provides Actual Cost (in thousands) incurred for the months of February through June. 5. Use percent completion rule in your calculations. Act. Duration (Months) Feb March Apr May Jun Jul A 2.00 7.50 7.50 B 1.00 5.00 C 2.00 5.00 5.00 D 3.00 7.00 7.00 7.00 E 2.00 16.00 16.00 F 1.00 5.00 G 1.00 5.00 Actual Cost (AC) 13.00 13.00 14.00 9.00 15.00 a) Compute Critical Ratio for the project. What can be done to improve Critical ratio for the project? Explain. b) Based on current cost performance level, what is the expected cost savings in completing the project? c) Based on current schedule performance level, how much more time (in months) is needed to complete the project? â€ƒ #2) Planned duration of a project is 28 weeks. Budget at completion for the project is $525,000. The project is in its 25th week. The actual cost (thus far) is $270,000. At this point in the plan, the planned cost was expected to be $261,000. For the work performed to date, the earned value is estimated at $272,000. Compute the following for the project: a) Cost variance. b) Schedule variance. c) If rest of the project is assumed to be completed at the current cost performance level, compute estimated total cost at completion of the project. d) If rest of the project is assumed to be completed at the current schedule performance level, compute estimated project completion time.