Earned Value Management Flashcards
What is the Schedule Variance (SV) at the end of a completed project?
Zero
What does a negative (-) Schedule Variance (SV) indicate?
The project is behind schedule.
What does a positive (+) Schedule Variance (SV) indicate?
The project is ahead of schedule.
What are the three Earned Value Management (EVM) types used for measuring work performance?
- Apportioned Effort
- Discrete Effort
- Level of Effort (LOE)
What does a negative (-) Cost Variance (CV) indicate?
The project is over budget.
What does a positive (+) Cost Variance (CV) indicate?
The project is under budget.
What is the Cost Variance (CV) at the end of a project?
BAC minus Actual amount spent
What does a Schedule Performance Index (SPI) value of less than 1 indicate?
The project is behind schedule.
What does a Schedule Performance Index (SPI) value of more than 1 indicate?
The project is ahead of schedule.
What does a Cost Performance Index (CPI) value of less than 1 indicate?
The project is over budget.
What does a Cost Performance Index (CPI) value of more than 1 indicate?
The project is under budget.
What is typically the shape of EV data curve of a project when plotted against time?
S-curve
What is the cost forecast indicator in Earned Value Management?
Estimate At Completion (EAC)
What does Variance at Completion (VAC) tell about a project?
It tells how much over or under budget the project is expected to be at the end.
What does Estimate to Complete (ETC) tell about a project?
It tells how much the remaining work on the project is expected to cost.
What does Cost Performance Index (CPI) indicate?
Cost efficiency of the project
What is the most critical EVA metric?
Cost Performance Index (CPI)
