ACAP Earned Value Management

Question 1

What is the primary purpose of Earned Value Management (EVM) in defense acquisition programs?

Accepted Answer

To integrate cost, schedule, and technical performance measurement

Answer

EVM integrates cost, schedule, and technical performance to provide objective, data-driven project performance measurement.

Question 2

Which DFARS clause implements Earned Value Management System (EVMS) requirements for defense acquisition contracts?

Accepted Answer

DFARS 252.234-7002

Answer

DFARS 252.234-7002 (Earned Value Management System) is the clause that implements EVMS requirements on applicable defense contracts.

Question 3

What is the Performance Measurement Baseline (PMB)?

Accepted Answer

The time-phased budget plan against which project performance is measured

Answer

The PMB is the time-phased budget baseline against which actual project performance is measured using EVM metrics.

Question 4

In EVM terminology, what does Planned Value (PV) — also called Budgeted Cost of Work Scheduled (BCWS) — represent?

Accepted Answer

The budgeted cost of work scheduled to be completed by a given date

Answer

PV/BCWS represents the authorized budget planned to be accomplished by a specific point in time on the schedule.

Question 5

What does Earned Value (EV), also called Budgeted Cost of Work Performed (BCWP), measure?

Accepted Answer

The budgeted amount for the work that has actually been completed

Answer

EV/BCWP is the budget value assigned to the work that has actually been accomplished, regardless of what it actually cost.

ACAP - Army Cost Analysis Position Practice Test