CCP CCP Earned Value Management 2

Question 1

In EVM, the term 'over-target baseline' (OTB) refers to:

Accepted Answer

A replanned baseline that exceeds the original contract budget

Answer

An over-target baseline is a rebaselined PMB whose total budget exceeds the original contract budget, often used when a project has overrun significantly.

Question 2

Which variance is calculated as EV minus AC in Earned Value Management?

Accepted Answer

Cost Variance (CV)

Answer

Cost Variance (CV) = EV - AC; a negative CV indicates actual costs exceed the budgeted cost for work performed.

Question 3

The Budgeted Cost of Work Performed (BCWP) is another name for which EVM metric?

Accepted Answer

Earned Value (EV)

Answer

Earned Value (EV) is also called BCWP — the budgeted value of the work that has actually been completed.

Question 4

Which EVM technique for measuring percent complete assigns value only when a task is 100% done?

Accepted Answer

0/100 method

Answer

The 0/100 method credits no earned value until the task is fully complete, making it suitable for short-duration tasks.

Question 5

Management Reserve (MR) in EVM is best described as:

Accepted Answer

Budget held outside the PMB for unknown-unknown risks

Answer

Management Reserve is an amount of project budget withheld outside the PMB to address unforeseen in-scope work (unknown unknowns).

CCP - Certified Cost Professional Practice Test

CCP - Certified Cost Professional Practice Test

CCP CCP Earned Value Management 2