CCC CCC Schedule Control & Earned Value Management

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

BAC is the total approved budget for the project or work package against which earned value performance is measured.

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

Schedule Variance (SV) = EV − PV = $400K − $500K = −$100K, indicating the project has accomplished less work than planned at this point in time.

Question 3

The Schedule Performance Index (SPI) is calculated as:

Accepted Answer

EV ÷ PV

Answer

SPI = EV/PV; a value below 1.0 indicates the project is behind schedule, while above 1.0 means ahead of schedule.

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

CV = EV − AC = $500K − $600K = −$100K, meaning the project has spent $100,000 more than the value of work accomplished.

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 baseline schedule, updated with actual progress, is the primary tool for identifying schedule variances and making corrective decisions.

CCC Practice Test