If the project's current total earned value (EV) is $100,000 and the actual amount spent (AC) is $95,000, what is the cost variance of the project?
Two efficiency indicators that reflect the cost and schedule performance of a project are:
At the end of a project, what will your schedule variance be equal to?
While analyzing a project, the project manager calculated the ratio of the Earned Value (EV) to the Actual Costs (AC) and obtained a value of 1.2. The project manager decided this was an unfavorable condition for the project and decided to take corrective action. What is your view?
A project was estimated to cost $200,000 with a timeline of 10 months. Due to a shipment delay, the schedule was slightly delayed. However, this was made up by shipping the first batch of materials for the project by air. The net result was that there was some additional cost in the project. At the end of the second month, the Project Manager reviews the project and finds that the project is 20% complete and Actual Costs are $50,000. The Estimate to Complete (ETC) for the project would now be:
The Earned Value Management methodology can be used to:
The formula for Cost Variance is: