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.
