PMI-SP · Question #125
You are the project manager of the OOI Project and you're forty percent complete with this project. The project has a BAC of $2,345,650 and you have spent $950,000 to date. Based on your aggressive…
The correct answer is C. $1,055,543. The planned value is forty-five percent of the project's BAC, or $1,055,543. Planned value (PV) is the authorized budget assigned to the schedule work to be accomplished for a schedule activity or work breakdown structure component. It serves as a baseline against which actual…
Question
You are the project manager of the OOI Project and you're forty percent complete with this project. The project has a BAC of $2,345,650 and you have spent $950,000 to date. Based on your aggressive scheduling you should be at the 45 percent milestone today, but due to some early delays you're running late. What is the planned value of your project?
Options
- A$950,000
- B$2,375,000
- C$1,055,543
- D$938,260
How the community answered
(35 responses)- A6% (2)
- B11% (4)
- C80% (28)
- D3% (1)
Explanation
The planned value is forty-five percent of the project's BAC, or $1,055,543. Planned value (PV) is the authorized budget assigned to the schedule work to be accomplished for a schedule activity or work breakdown structure component. It serves as a baseline against which actual performance is measured. The theory of planned value is of vital importance to the project management team and it is important to keep careful track of this. The term planned value can also be in some situations referred to by the project management team and the project management team leader as the budgeted cost of work scheduled (BCWS). Answer option D is incorrect. $938,260 is the project's earned value. Answer option A is incorrect. $950,000 is the project's actual costs. Answer option B is incorrect. $2,375,000 is the project's estimate at completion.
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