The may be no directrelationship betweenelapsed time, actual workand incurred cost.
For example, at the end ofday 8 you have actuallyspent 45% of the budgetand completed 55% of thework.
This illustrates a typical “check point” at the end of the eight day (or week, or month). The project is probably in trouble – 54% of the money is gone and 60% of the work remains.