FREE Fundamentals of Earned Value Management MCQ Questions and Answers

Question 1

If the ETC work is completed at the planned rate, how will your EAC be determined?

Accepted Answer

EAC = AC + BAC – EV

Answer

EAC = BAC/CPI

Answer

EAC = AC + [(BAC – EV) / (CPI x SPI)]

Answer

EAC = AC + Bottom-up ETC

Question 2

The project's remaining budget is given as

Accepted Answer

(BAC - AC) or (EAC - AC)

Answer

EAC - PV

Answer

BAC - EV

Answer

BAC - PV

Question 3

Actual Cost (AC) minus Earned Value (EV) is

Accepted Answer

Cost Variance (CV)

Answer

Schedule Performance Index (SPI)

Answer

Cost Performance Index (CPI)

Answer

Schedule Variance (SV)

Question 4

You can utilize the Earned Value Methodology (EVM) to

Accepted Answer

Forecast future performance based on past performance

Answer

Calculate the profitability of the project

Answer

Calculate the value provided to the customer

Answer

Calculate the number of days left in the project

Question 5

What method is the most accurate for calculating the Estimate to Completion? (ETC)

Accepted Answer

Manual forecasting of cost of the remaining work

Answer

(BAC - EV) / CPI

Answer

BAC - EV

Answer

EAC - AC

Question 6

If the CPI is more than one, then

Accepted Answer

Project is under budget

Answer

Project is over budget

Answer

Actual Cost (AC) is greater than Earned Value (EV)

Answer

Project progress is as per the baseline plan

Question 7

If SPI is more than 1, it means that

Accepted Answer

Project is ahead of schedule

Answer

Earned Value (EV) is less than Planned Value (PV)

Answer

Project is behind schedule

Answer

Project progress is according to the baseline plan