Earned Value Management Quiz

Welcome to your Earned Value Management quiz!

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1. Considering the impact of both schedule and cost performance; what the entire project is likely to cost is expressed by?
2. A project is estimated to cost $200,000 with a timeline of 10 months. Due to shipment delay, the schedule was slightly delayed. This was however made up by receiving the first batch of materials for the project by air. The net result was that there was some additional cost in the project. At the end of the second month, he project manager reviews the project and finds that the project is 20% complete and actual costs are$50,000. The Estimate to Complete (ETC) for the project would be
3. What is the upper limit imposed on Actual Cost (AC)
4. CPI greater than one implies that
5. What is the TCPI of the project based on following project data? (1) EAC = $115,000 (2) BAC =$100,000, (3) EV = $25,000 (4) AC =$40,000.
6. Cost Variance less than zero implies that
7. SPI greater than one implies that
8. Which of the following formulas answers the question; What is the remaining work likely to cost?
9. A project manager expects that the project would finish one month before the planned finish date. However he expects that the project to exceed the budgeted cost. What is true about the Schedule Performance Index (SPI)
10. At the end of the project schedule variance is equal to
11. SPI less than one implies that
12. Earned Value (EV) minus Actual Cost (AC) is
13. A project is experiencing cost over run. What is true about Cost Performance Index (CPI)
14. Cost performance required to be achieved on the remaining work is expressed by
15. What is the best way to calculate the Estimate At Completion (EAC) when original estimates are no longer valid.
16. The planned value of task A is $150,000 and task B is$500,000. After six months the project manager does a performance analysis of the project and finds that the project is behind schedule. The actual cost incurred in completing task A is $175,000 and that for completing 80% of task B is$650,000. What is the cost performance index of the project?
17. How will you calculate your EAC if the ETC work will be performed at the budgeted rate?
18. Earned Value (EV) minus Planned Value (PV) is
19. A project is scheduled to complete in one year. After 3 months of execution the earned value is $45,000 and the planned value is$55,000. What is the schedule variance of the project?
20. A project is estimated to cost $50,000 with a timeline of 50 days. After 25 days, the project manager finds that 80% of the project is complete and Actual costs are$50,000. What is the Cost Performance Index (CPI)?Add description here!
21. How much we will be over or under budget at the end of the project; is expressed by?
22. A project has a budget of $30,000 and the costs incurred till date is$20,000. The project has achieved $10,000 worth of work. The project manager believes that the future work will progress at the planned rate. What is the Estimate at Completion (EAC) of the project? 23. A project manager determined that BAC is no longer viable and developed a forecasted EAC. What index can the project manager use to look at the calculated projection of cost performance that must be achieved on the remaining work. 24. What is EAC for the project if BAC =$50,000 AC = $10,000 EV =$7,000 manual bottom up ETC = $50,000 25. Schedule Variance (SV) greater than zero implies that 26. What is the best way to accurately calculate Estimate to Completion (ETC) 27. A project's current total Earned Value (EV) is$150,000 and the Actual Cost (AC) is $100,000. What is the Cost Variance (CV) of the project? 28. Budget remaining on the project is expressed as 29. Schedule Variance (SV) less than zero implies that 30. CPI less than one implies that 31. Earned Value Measurements of a project indicate that the current CPI is 0.80 and the current SPI is 0.98. For the next phase of the project the project manager should focus on which element of the project. 32. Work remaining on the project is expressed as 33. Considering the following project data what is the Estimate at Completion (EAC) if the work is performed at the budgeted rate? BAC =$22,000 EV = $13,000 PV =$14,000 AC = \$15,000
34. The Earned Value Methodology (EVM) can be used as a means to
35. Two efficiency indicators that reflect cost and schedule performance of a project areAdd description here!
36. Cost Variance greater than zero implies that

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