Free PMI Project Management Professional (PMP) Practice Question
A project has a Budget at Completion (BAC) of $200,000. The project is currently 40% complete, with an Actual Cost (AC) of $85,000 and a Planned Value (PV) of $90,000. What is the Schedule Variance (SV) of the project?
To calculate the Schedule Variance (SV), we need to find the Earned Value (EV) and the Planned Value (PV). EV is calculated as the Actual % Complete multiplied by the Budget at Completion (BAC): EV = 40% x $200,000 = $80,000. Schedule Variance (SV) is then calculated as EV - PV: SV = $80,000 - $90,000 = -$10,000. The negative variance indicates the project is behind the planned schedule.
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What is Earned Value (EV) and how is it calculated?
What is Planned Value (PV) and why is it important?
What does a negative Schedule Variance (SV) indicate?
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