A project has a budget of 7,500,000$ and is expected to last five years , the project is now in year three and is 40% complete.

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budget of Project is 7500000 dollars

  4500000=  7500000× %earned value is 60

60%Work that is being done in three years

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it is confusing question if you calculate time wise the project already on the third year and the completion time is five years and the budget is 7,500,000 us$ then using this time percentage the project should have earned 3/5 x7,500,000 = 4,500,000 us$ , using completion percentage then it is 40% x7,500.000 = 3,000,000us$ working on the average earning  then the project should have earned  (4,500,000 + 3,000,000) /2 = 3,250,000 us$ but actually the project earned 4,000,000 us$ the earning balance is  4,000,000- 3,250,000 = 750,000usus$

For forty percent completion, expenditure would have been .40x7.5 million= 3 million only. So, earned value is 3 million only. 

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