CCC Schedule Control & Earned Value Management Flashcards
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Read the first 6 CCC Schedule Control & Earned Value Management flashcards as text
What is 'schedule compression' and when would a cost controller recommend it?
Answer: Techniques (crashing or fast-tracking) used to shorten project duration when the schedule has slipped behind the baseline
Schedule compression is applied when recovery from a delay is needed, using either additional resources (crashing) or overlapping tasks (fast-tracking).
A Variance at Completion (VAC) of −$200,000 indicates:
Answer: The project is projected to finish $200,000 over the original budget
VAC = BAC − EAC; a negative VAC means the forecasted final cost exceeds the authorized budget by that amount.
In an S-curve analysis, what does the gap between the planned value (PV) curve and the earned value (EV) curve represent?
Answer: The cumulative schedule variance, showing how much planned work has not yet been accomplished
The vertical gap between the PV and EV S-curves at any point in time quantifies the cumulative schedule variance in cost terms.
What is the purpose of a 'schedule baseline change request' in project cost control?
Answer: To formally document and approve changes to the approved baseline schedule when scope or conditions materially change
A formal change request ensures that baseline adjustments are documented, evaluated for cost impact, and approved through the change control process.
When a cost controller identifies a 'positive schedule variance' mid-project, the most prudent action is to:
Answer: Investigate the cause — it may reflect inaccurate progress reporting, not genuine acceleration
Apparent schedule gains must be verified; over-reporting progress is a common cause of favorable variances that later reverse dramatically.
Which EVM performance indicator is most useful for an early warning of project cost overrun trends?
Answer: Cost Performance Index (CPI) tracked cumulatively over time
Research shows that the cumulative CPI stabilizes by 20% of project completion and rarely improves by more than 10%, making it the best early overrun predictor.