CST Baseline & Earned Value Schedule 2

Question 1

A project has a Budget at Completion (BAC) of $200,000. At the status date, the Earned Value (EV) is $80,000 and the Actual Cost (AC) is $100,000. What is the Cost Variance (CV)?

Accepted Answer

-$20,000

Answer

CV = EV - AC = $80,000 - $100,000 = -$20,000, indicating the project is over budget.

Question 2

Which EVM metric indicates how efficiently the project is using its time budget?

Accepted Answer

Schedule Performance Index (SPI)

Answer

SPI = EV / PV, measuring how efficiently the project is progressing relative to the planned schedule.

Question 3

A project baseline is formally approved and can only be changed through which process?

Accepted Answer

Integrated Change Control

Answer

Changes to an approved baseline must go through Integrated Change Control to ensure formal review and authorization.

Question 4

If SPI = 0.75, what does this indicate about the project's schedule status?

Accepted Answer

The project is completing only 75 cents of work for every dollar planned

Answer

SPI < 1.0 means for every dollar of planned work, only $0.75 worth of work has been accomplished, indicating the project is behind schedule.

Question 5

What is the Estimate at Completion (EAC) formula when the original estimate is no longer valid and future work is expected to proceed at the current CPI?

Accepted Answer

EAC = BAC / CPI

Answer

EAC = BAC / CPI is used when past cost performance is expected to continue for the remaining work.

(CST) Certified Scheduling Technician Practice Test

(CST) Certified Scheduling Technician Practice Test

CST Baseline & Earned Value Schedule 2