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Question:

A project with a CPI of 1.12 and an SPI of 0.90 is performing:

A Under budget and behind schedule
explanation

A CPI of greater than 1 is performing under budget; an SPI of less than 1 is performing behind schedule. Remember that generally an index > 1 is good, an index = 1 is perfect, and an index of < 1 is bad.