A project manager is reviewing the financial status of her project. The Estimate at Completion (EAC) is $500,000, and the Actual Cost (AC) to date is $300,000. What is the Estimate to Complete (ETC) for this project?
$200,000
$500,000
$300,000
$800,000
The correct answer is $200,000. The Estimate to Complete (ETC) is calculated using the formula ETC = EAC - AC. In this case, EAC = $500,000 and AC = $300,000. Therefore, ETC = $500,000 - $300,000 = $200,000. This represents the expected additional cost required to complete the project based on current performance. It's important to note that ETC focuses on the remaining work and costs, while EAC represents the total expected cost of the project at completion.
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