PMI-SP · Question #347
You are the project manager of the NHQ project. Your project has a budget of $1,258456 and is scheduled to last for three years. Your project is currently forty percent complete though it should be…
The correct answer is D. -$54,044. The variance at completion can be found by subtracting the estimate at completion from the budget at completion. In this instance, it is: Variance at completion = EAC - BAC = $1,258,456 - $1,312,500. Answer option C is incorrect. You can calculate the variance at completion…
Question
You are the project manager of the NHQ project. Your project has a budget of $1,258456 and is scheduled to last for three years. Your project is currently forty percent complete though it should be forty-five percent complete. In order to reach this point of the project, you have spent $525,000. Management needs a performance report regarding the NHQ project. Management is concerned that this project will be over budget upon completion. Based on the current performance value what should you report to management regarding the variance at completion?
Options
- A-$21,618
- B-$62,922
- CZero - you would not know what this will cost until the project is complete.
- D-$54,044
How the community answered
(41 responses)- A5% (2)
- B10% (4)
- C17% (7)
- D68% (28)
Explanation
The variance at completion can be found by subtracting the estimate at completion from the budget at completion. In this instance, it is: Variance at completion = EAC - BAC = $1,258,456 - $1,312,500. Answer option C is incorrect. You can calculate the variance at completion. Answer option A is incorrect. This is the cost variance for the project. Answer option B is incorrect. This is the schedule variance for the project.
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