Earned Value Adjustment

Hi All,

There is earned value adjustment shall be done in case Of Finishin the activity less than BAC.

let me clarify:

Act  A1000  BAC =1,000,000 U.S.D   ACT ST 01-DEC-15   ACT FS 30-DEC-15       Finished at 500,000 U.S.D

Options:

1- updae 100%  and actual dates  -impact showing EV=1,000,000 INSTEAD OF 500,000

2- Update 50% ,actual start and ETC=0 - Impact Showing the activity in progress ehile in reality it has been finished

3- Update 100% with actual dates and add new activity with -500,000 to B.L then update -Impact BAC will change from 1,000,000 to 500,000  which not correct

Im convenced with option 1 while my superior convenced with option 3 and im trying to convence

Please advice about the propper one and if there is any other option?

Thanks