PMI-SP · Question #256
You are the project manager of the GHY Project. This project is scheduled to last for one year and has a BAC of $4,500,000. You are currently 45 percent complete with this project, though you are up…
The correct answer is C. -$225,000. The schedule variance can be found by subtracting the planned value from the earned value. In this instance, it is $2,025,000 minus $2,250,000. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind…
Question
You are the project manager of the GHY Project. This project is scheduled to last for one year and has a BAC of $4,500,000. You are currently 45 percent complete with this project, though you are up posed to be at your second milestone which accounts for half of the project completion. There have been some errors in the project which has caused you to spend $2,073,654. What is this project's schedule variance?
Options
- A10 percent
- B-$48,654
- C-$225,000
- D0.98
How the community answered
(71 responses)- A8% (6)
- B6% (4)
- C83% (59)
- D3% (2)
Explanation
The schedule variance can be found by subtracting the planned value from the earned value. In this instance, it is $2,025,000 minus $2,250,000. 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 B is incorrect. This is the cost variance for the project. Answer option A is incorrect. 10 percent is not a valid answer. Answer option D is incorrect. This is not a valid variance for this question; variances are typically negative numbers.
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