In this assignment, your team is managing a software development project with a total project budget of $178,500.
Total work effort is 1,536 hours and the timeline for completion 24 weeks. At the end of week 12, the plan was to have completed 55% of the project scope. However, actual progress was calculated at 650 worth of hours completed on project activities and actual cost (in hours) for these activities is 780.
With your team, please answer the following questions. For each response, show the pertinent formula(s) as it applies and "show your work" in addition to providing a narrative statement.
· How much money was supposed to have been spent at the end of week 12?
· Will the project finish on time and within the given budget?