PMI-SP · Question #253
You are the project manager of the NHA Project. This project is expected to last one year with quarterly milestones throughout the year. Your project is supposed to be at the third milestone today…
The correct answer is D. $-111,750. The schedule variance is found by subtracting the planned value from the earned value. In this instance, it is $447,000 minus $558,750. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was…
Question
You are the project manager of the NHA Project. This project is expected to last one year with quarterly milestones throughout the year. Your project is supposed to be at the third milestone today, but you are likely to be only 60 percent complete. Your project has a BAC of $745,000 and you have spent $440,000 of the budget-to-date. What is your schedule variance for this project?
Options
- A$11,667
- B1.02
- C$7,000
- D$-111,750
How the community answered
(51 responses)- A2% (1)
- B12% (6)
- C6% (3)
- D80% (41)
Explanation
The schedule variance is found by subtracting the planned value from the earned value. In this instance, it is $447,000 minus $558,750. 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. Answer option C is incorrect. $7,000 is the cost variance for this project. Answer option A is incorrect. $11,667 is the variance at completion for this project. Answer option B is incorrect. 1.02 is the cost performance index for this project.
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