PCC PCC Earned Value Management

Question 1

In Earned Value Management (EVM), the Planned Value (PV) represents:

Accepted Answer

The authorized budget for work scheduled to be completed by a given date

Answer

The authorized budget for work actually completed

Answer

The actual cost incurred for work performed

Answer

The difference between budgeted and actual costs

Question 2

A project has a Budget at Completion (BAC) of $500,000, an Earned Value (EV) of $200,000, and actual costs (AC) of $250,000. What is the Cost Variance (CV)?

Accepted Answer

-$50,000

Answer

$50,000

Answer

-$300,000

Answer

$300,000

Question 3

A Schedule Performance Index (SPI) of 0.85 indicates that the project:

Accepted Answer

Is completing only 85 cents of planned work for every dollar of schedule

Answer

Is 15% ahead of schedule

Answer

Has spent 15% more than budgeted

Answer

Will finish 15% under budget

Question 4

Which EVM metric is used to forecast the total cost of the project at completion?

Accepted Answer

Estimate at Completion (EAC)

Answer

Budget at Completion (BAC)

Answer

Estimate to Complete (ETC)

Answer

Variance at Completion (VAC)

Question 5

The Control Account (CA) in an EVM system is best described as:

Accepted Answer

A management control point where scope, schedule, and budget are integrated for performance measurement

Answer

A financial account used to pay project vendors

Answer

The total budget allocated to a project phase

Answer

A reserve fund for risk mitigation

Question 6

In EVM, the To-Complete Performance Index (TCPI) based on BAC measures:

Accepted Answer

The cost efficiency needed for the remaining work to meet the original budget

Answer

The schedule efficiency achieved to date on the project

Answer

The ratio of earned value to planned value

Answer

The forecasted cost variance at project completion