You work as a Project Manager for Dreams Unlimited Inc. You are looking for performance efficiencies of a project. The related key values are provided in the table below: MeasurementsValues BCWP (or…

Question

Options

• A+110
• B-25
• C-110
• D+25

• A
  3% (1)
• B
  8% (3)
• C
  3% (1)
• D
  87% (34)

Explanation

According to the question, you are required to find out the schedule variance (SV) of the project. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target. Now, putting the provided values on the formula: As the value of SV (which is 25) is a positive number, it means that the project is ahead of the planned schedule. What is BCWP (or EV)? Budgeted cost of work performed (BCWP) or Earned Value (EV) is the value of completed work. It is the budgeted amount for the work actually completed on the schedule activity during a given time period. What is BCWS (or PV)? Budgeted Cost of Work Scheduled (BCWS) or Planned Value (PV) is the authorized budget assigned to the scheduled work to be accomplished for a schedule activity or Work Breakdown Structure (WBS) component. What is ACWP (or AC)? Actual cost of work performed (ACWP) or Actual Cost (AC) is the total costs actually incurred and recorded in accomplishing work performed during a given time period for a schedule activity. It is the cost of the work to date, including direct and indirect AC is money that has actually been expended to date.

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