CCC CCC Schedule Control & Earned Value Management 1

Question 1

In Earned Value Management (EVM), what does the term 'Budget at Completion (BAC)' represent?

Accepted Answer

The total authorized budget for the entire project or work package

Answer

The amount spent to date on the project

Answer

The forecasted final cost of the project

Answer

The difference between planned and actual costs

Question 2

A project's Earned Value (EV) is $400,000 and Planned Value (PV) is $500,000. What does this indicate?

Accepted Answer

The project is behind schedule (schedule variance is negative)

Answer

The project is under budget

Answer

The project is ahead of schedule

Answer

The project has a positive cost variance

Question 3

The Schedule Performance Index (SPI) is calculated as:

Accepted Answer

EV ÷ PV

Answer

PV ÷ EV

Answer

EV ÷ AC

Answer

AC ÷ EV

Question 4

If a project has Actual Cost (AC) of $600,000 and Earned Value (EV) of $500,000, what is the Cost Variance (CV)?

Accepted Answer

-$100,000 (over budget)

Answer

+$100,000 (under budget)

Answer

$0 (on budget)

Answer

Cannot be determined without BAC

Question 5

What is the primary schedule control document used to track project activities against planned completion dates?

Accepted Answer

The project baseline schedule with progress updates

Answer

The project charter

Answer

The procurement log

Answer

The risk register

Question 6

In EVM, the Estimate at Completion (EAC) using the Cost Performance Index (CPI) is calculated as:

Accepted Answer

BAC ÷ CPI

Answer

BAC × CPI

Answer

AC + (BAC − EV)

Answer

EV − AC