Baseline & Earned Value Schedule Flashcards

A project has a Budget at Completion (BAC) of $200,000. At the status date, the Earned Value (EV) is $80,000 and the Actual Cost (AC) is $100,000. What is the Cost Variance (CV)?

Answer: -$20,000

CV = EV - AC = $80,000 - $100,000 = -$20,000, indicating the project is over budget.

Which EVM metric indicates how efficiently the project is using its time budget?

Answer: Schedule Performance Index (SPI)

SPI = EV / PV, measuring how efficiently the project is progressing relative to the planned schedule.

A project baseline is formally approved and can only be changed through which process?

Answer: Integrated Change Control

Changes to an approved baseline must go through Integrated Change Control to ensure formal review and authorization.

If SPI = 0.75, what does this indicate about the project's schedule status?

Answer: The project is completing only 75 cents of work for every dollar planned

SPI < 1.0 means for every dollar of planned work, only $0.75 worth of work has been accomplished, indicating the project is behind schedule.

What is the Estimate at Completion (EAC) formula when the original estimate is no longer valid and future work is expected to proceed at the current CPI?

Answer: EAC = BAC / CPI

EAC = BAC / CPI is used when past cost performance is expected to continue for the remaining work.

In Earned Value Management, the Performance Measurement Baseline (PMB) integrates which three elements?

Answer: Scope, schedule, and cost

The PMB integrates scope, schedule, and cost baselines to provide the integrated measurement foundation for EVM.

A project's Planned Value (PV) is $50,000 and EV is $45,000. What is the Schedule Variance (SV)?

Answer: -$5,000

SV = EV - PV = $45,000 - $50,000 = -$5,000, indicating the project is behind the planned schedule.