You were asked to provide a report on performance of the project. The project is composed of 6 phases with each phase lasting for 2 weeks and an approved budget of $10,000 for the entire project. You are now at end of week 6. At this point you’ve spent exactly half your budget and the work that was planned for phases 1, 2, and 3 has been completed. Project is on time and on budget The project is on time, but we cannot determine whether the project is on budget The project is on budget, but we cannot determine whether the project is on time It’s impossible to tell anything