A project is planned to be completed in 9 months with a budget of $250,000. After the first month, the following data is

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A project is planned to be completed in 9 months with a budget
of $250,000. After the first month, the following data is
collected:
 planned expenditure = $50,000
 actual cost spent = $60,000
The project manager estimates that 95% of the work planned has
been completed in the first month, i.e. work done in the first
month is more than planned. Calculate the Earned Value (2 marks),
Revised Duration (4 marks) and Revised Budget (4 marks) for the
project, showing all workings.