CCT Earned Value Management 2

Question 1

Which Estimate at Completion (EAC) formula is used when the current CPI is expected to continue for the remainder of the project?

Accepted Answer

EAC = BAC / CPI

Answer

EAC = BAC + (BAC - EV)

Answer

EAC = AC + (BAC - EV)

Answer

EAC = AC + ETC

Question 2

The To-Complete Performance Index (TCPI) based on BAC is calculated as:

Accepted Answer

(BAC - EV) / (BAC - AC)

Answer

(EV - AC) / (BAC - EV)

Answer

(BAC - AC) / (BAC - EV)

Answer

(AC - EV) / (BAC - AC)

Question 3

What does Variance at Completion (VAC) measure?

Accepted Answer

The difference between BAC and the Estimate at Completion

Answer

The difference between planned and actual start dates

Answer

The ratio of earned value to actual cost

Answer

The total amount of approved changes

Question 4

If EV = $120,000 and PV = $140,000, what is the Schedule Variance (SV)?

Accepted Answer

-$20,000

Answer

+$20,000

Answer

+$260,000

Answer

-$260,000

Question 5

The Estimate to Complete (ETC) when current CPI is expected to continue is calculated as:

Accepted Answer

ETC = (BAC - EV) / CPI

Answer

ETC = BAC - EV

Answer

ETC = EAC - BAC

Answer

ETC = AC / CPI

Question 6

Actual Cost (AC) in EVM terminology is also known as:

Accepted Answer

Actual Cost of Work Performed (ACWP)

Answer

Budgeted Cost of Work Performed (BCWP)

Answer

Budgeted Cost of Work Scheduled (BCWS)

Answer

Estimate to Complete (ETC)

Question 7

A TCPI value greater than 1.0 indicates that:

Accepted Answer

The remaining work must be performed more efficiently than current performance

Answer

The project is under budget and ahead of schedule

Answer

Future work can be performed less efficiently and still meet the budget

Answer

The project has been completed within the approved budget