“Let’s assume a 12-month railway project that is planned to spend $3M per month for a total budget at completion of $36M

[answerhappygod]

“Let’s assume a 12-month railway project that is planned to
spend $3M per month for a total budget at completion of $36M. The
project is 2 months along and according to the actual cost is
underspent by 50% compared to the planned value. We could assume
therefore that the project is going well because it’s costing less
than planned. But after 2 months of work, 10 % of work has been
completed”