Earned Value (EV) Quiz
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Questions and Answers

Which of the following best describes Earned Value (EV)?

  • The actual cost of the work completed at a given point in time
  • The budgeted cost of the work yet to be completed at a given point in time
  • The estimated cost of the work completed at a given point in time
  • The budgeted cost of the work actually completed at a given point in time (correct)

    • What does Earned Value (EV) measure?

  • The actual cost of the work completed (correct)
  • The estimated cost of the work completed
  • The budgeted cost of the work yet to be completed
  • The total cost of the project

    • Which of the following is true about Earned Value (EV)?

  • It represents the budgeted cost of the work actually completed (correct)
  • It represents the budgeted cost of the work yet to be completed
  • It represents the estimated cost of the work actually completed
  • It represents the estimated cost of the work yet to be completed

    • Which of the following statements is true about Schedule Variance (SV)?

    <p>SV measures the difference between the earned value and the planned value.</p> Signup and view all the answers

    What does a positive Schedule Variance (SV) indicate?

    <p>The project is ahead of schedule.</p> Signup and view all the answers

    What does a negative Schedule Variance (SV) indicate?

    <p>The project is behind schedule.</p> Signup and view all the answers

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