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

Planned Value (PV) is the portion of the approved project budget planned to be spent up to a specific point in time based on the schedule.

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

CV = EV − AC = $200,000 − $250,000 = −$50,000, indicating the project is over budget for the work performed.

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

SPI = EV/PV; a value of 0.85 means the project is accomplishing only 85% of the planned schedule progress, indicating it is behind schedule.

Question 4

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

Accepted Answer

Estimate at Completion (EAC)

Answer

The Estimate at Completion (EAC) is the forecasted total project cost based on current performance trends and remaining work estimates.

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 Control Account is the intersection of the Work Breakdown Structure (WBS) and Organizational Breakdown Structure (OBS), where EVM metrics are measured and managed.

(PCC) Project Controls Certification Practice Test

(PCC) Project Controls Certification Practice Test

PCC PCC Earned Value Management