A project segment consists of three tasks. Task A is scheduled to begin at the start of Week 1 and finish at the end of Week 3. Task B is scheduled to begin at the start of Week 1 and finish at the end of Week 2. Task C is scheduled to begin at the start of Week 2 and end at the end of Week 3. Budgeted cost for Task A is $148,450, for Task B is $121,000, and for Task C is $93,900. A total of $86,000 is being carried for a contingency. This project has a very high level of risk, supporting a risk factor of 35% which equates to labor coverage of $71,649. Coincidentally, labor costs are running approximately 15% over budget due to project complexity. At the end of week two, Task A is 50% complete, Task B is 80% complete, and Task C is 45% complete. Actual cost of work for tasks A, B and C performed at the end of week two for project segment is $151,000 and none of your allocated risk factor funds have been used. Labor costs remain over budget but are not getting worse. Balance of your contingency fund remains strong with $47,800 of $86,000 remaining. 100 percent of unused contingency is returned to the project owner. Calculate cost performance index for project segment. Indicate project budget status based on calculated CPI index. 1.4125; Under budget 1.1355; Over budget 0.9522; Under budget 0.9522; Over budget 0.8685; Under budget
