Baseline & Earned Value Schedule Flashcards
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Read the first 7 Baseline & Earned Value Schedule flashcards as text
The Estimate to Complete (ETC) assumes all future work will be performed at the budgeted rate. Which formula represents this?
Answer: ETC = BAC - EV
ETC = BAC - EV assumes the remaining work will be completed at the originally planned cost efficiency (CPI = 1.0).
Which of the following would NOT typically trigger a formal baseline revision?
Answer: Weekly schedule status updates
Weekly status updates reflect current performance against the baseline but do not themselves constitute a reason to change the baseline.
On a project with BAC = $500,000, EV = $200,000, and AC = $250,000, what is the CPI?
Answer: 0.80
CPI = EV / AC = $200,000 / $250,000 = 0.80, meaning only 80 cents of value is being earned per dollar spent.
A control account is the management control point in EVM where which two elements are integrated?
Answer: Scope and cost against a time-phased plan
Control accounts integrate scope and cost into a time-phased plan, enabling earned value measurement at a manageable level.
What does a Variance at Completion (VAC) of -$30,000 indicate?
Answer: The project is expected to overrun its budget by $30,000
VAC = BAC - EAC; a negative VAC means the Estimate at Completion exceeds the Budget at Completion, projecting a cost overrun.
In a time-phased budget, the cumulative Planned Value (PV) curve is commonly referred to as what shape?
Answer: S-curve
The cumulative PV baseline typically forms an S-curve, starting slow, accelerating through mid-project, and tapering near completion.
Which earned value method assigns 50% credit at start and 50% upon completion, suitable for short-duration tasks?
Answer: 50/50 rule
The 50/50 rule grants 50% earned value when work begins and the remaining 50% upon task completion, useful for activities spanning one reporting period.