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CCC Schedule Control & Earned Value Management Flashcards

6 cards from real CCC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

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

    Answer: The total authorized budget for the entire project or work package

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

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

    Answer: The project is behind schedule (schedule variance is negative)

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

  3. The Schedule Performance Index (SPI) is calculated as:

    Answer: EV ÷ PV

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

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

    Answer: -$100,000 (over budget)

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

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

    Answer: The project baseline schedule with progress updates

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

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

    Answer: BAC ÷ CPI

    EAC = BAC/CPI assumes future work will continue at the same cost efficiency as work performed to date.