Free PMI Project Management Professional (PMP) Practice Question

The correct answer is $150,000. To calculate Planned Value (PV), we use the formula: PV = Planned % Complete x Budget at Completion (BAC). In this case, we have:

• Planned % Complete = 30% (or 0.30)
• BAC = $500,000

Plugging these values into the formula: PV = 0.30 x $500,000 = $150,000

This calculation represents the amount of work that should have been completed according to the project schedule, expressed in monetary terms. It's important to note that PV is based on the planned progress, not the actual progress. This value will be used in conjunction with other EVM metrics like Earned Value (EV) and Actual Cost (AC) to assess project performance and forecast future outcomes.