EV = % complete * budget: 65% * $120,000 = $78,000,
AC = $80,000.
CPI = EV/AC = $78,000/80,000 = 0.975 or 0.98
A CPI less than 1 means the project is over budget.
PV = % complete * budget: 90% * $120,000 = $108,000,
SPI = EV/PV = $78,000/108,000 = 0.72
An SPI less than 1 means the project is behind schedule.