How is the project currently performing according to the schedule and budget?

To answer this question, you will need to calculate the cumulative SPI and CPI. All values needed to do this have been provided within the question. The formula for calculating SPI, which will tell us how the project is performing according to the schedule, is EV ÷ PV. Plug in the values provided to result in the following: ($59,000 / $70,200) = 0.84. Anything less than 1.0 means that the project is behind schedule. Now, calculate CPI by using the following formula: EV ÷ AC. Plug in the values provided to result in the following: ($59,000 / $64,500) = 0.91. A CPI under 1.0 means that the project is over budget. Therefore, the project is behind over budget. Therefore, the project is behind schedule and over budget.