Question 1 (40 points): The construction of a new apartment building is currently underway. Aconstruction schedule and budget were developed at the beginning of the project to map out theconstruction

sequence and costs. The scheduled work activities, together with the corresponding durationand budgeted amount estimated at the start of the project, are shown in the next page. The activities arelisted in the order in which they are scheduled to be completed. Use the various Earned Value measures toanswer the following questions regarding the status of the project, i.e. ahead or behind schedule, over orunder budget. a) Due to the implementation of a new shoring method, the excavation work was completed at theend of the 10th working day, but at a reduced cost of $34,000 (mobilization plus excavation). Atthe end of the 10th working day: What is the status of the project in terms of schedule (SV and %SV)? II.What is the status of the project in terms of cost (CV and %CV)? b) The building was "closed-in" (exterior enclosure complete) at the end of the 84th day on the job,rather than in 89 days as scheduled. This was accomplished through overtime work. Workingovertime has increased the cost to date to $582,500. At the end of the 84th working day: I.What is the status of the project in terms of schedule (SV and SPI)? II.What is the status of the project in terms of cost (CV and CPI)?