RCDD · Question #164
At the end of the second week of a project, the earned value (EV) of work is $8000 USd and the planned value (PV) of work is $7000 USd. What is true about the project?
The correct answer is A. The project is ahead of schedule. Schedule Variance (EV minus PV) determines whether a project is ahead of or behind its planned schedule at a given point in time.
Question
At the end of the second week of a project, the earned value (EV) of work is $8000 USd and the planned value (PV) of work is $7000 USd. What is true about the project?
Options
- AThe project is ahead of schedule.
- BThe project is over budget.
- CThe project is behind schedule.
- DThe project is under budget.
How the community answered
(27 responses)- A74% (20)
- B15% (4)
- C7% (2)
- D4% (1)
Why each option
Schedule Variance (EV minus PV) determines whether a project is ahead of or behind its planned schedule at a given point in time.
Schedule Variance (SV) = Earned Value (EV) - Planned Value (PV) = $8000 - $7000 = +$1000. A positive SV means more work has been completed than was planned for this point in time, so the project is ahead of schedule. This is a core EVM schedule performance metric distinct from cost performance.
Over budget is a cost performance determination requiring Actual Cost (AC) data; no AC value is provided here, and PV vs EV does not measure budget status.
Behind schedule requires a negative SV where PV exceeds EV; here EV ($8000) is greater than PV ($7000), producing a positive variance indicating the opposite.
Under budget is determined by comparing EV to AC, not EV to PV; schedule variance cannot indicate budget status without actual cost data.
Concept tested: EVM schedule variance calculation and interpretation
Source: https://www.pmi.org/learning/library/earned-value-management-systems-analysis-8026
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