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Note: The data assume a 50/50 ratio for planned and earned values of budget.

Note: The data assume a 50/50 ratio for planned and earned values of budget.

• Subtask 2: All contractual funds were budgeted. A cost overrun of $5,000 was incurred, and milestone was completed later than expected. Subtask is completed.

• Subtask 3: Subtask is completed. Costs were underrun by $10,000, probably because of early start.

• Subtask 4: Work is behind schedule. Actually, work has not yet begun.

• Subtask 5: Work is completed on schedule, but with a $50,000 cost overrun.

• Subtask 6: Work has not yet started. Effort is behind schedule.

• Subtask 7: Work has begun and appears to be 25 percent complete.

• Subtask 8: Work has not yet started.

To complete our analysis of the status of a project, we must determine the budget at completion (BAC) and the estimate at completion (EAC). Table 15-4 shows the parameters for variance analysis.

• The budget at completion is the sum of all budgets (BCWS) allocated to the project. This is often synonymous with the project baseline. This is what the total effort should cost.

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