Earned Value Management

Question 1

EVM

Answer 1

Earned Value Management

Question 2

BAC (Budget at Completion)

Answer 2

What you predicted.

Question 3

EAC (Earned at Completion)

Answer 3

The reality at the end of the project.

Question 4

TCPI > 1

Answer 4

Bad news. Harder to complete.

Question 5

TCPI = 1

Answer 5

On Plan. Same to complete.

Question 6

TCPI < 1

Answer 6

Good news. Easier to complete.

Question 7

SPI & CPI > 1

Answer 7

Good news.

Question 8

SPI & CPI = 1

Answer 8

On Plan.

Question 9

SPI & CPI < 1

Answer 9

Bad news.

Question 10

Method: Percent Complete

Answer 10

Work packages and control accounts that span a short period of time (< 3 months-accounting period); applies percent complete to start and finish of activity.

Question 11

Method: Units Complete

Answer 11

Used for tasks that can be measured for completion as units (physical products, services or documents); applies equal weight to each unit in the work package and takes credit as units are completed.

Question 12

Method: Level of Effort (LOE)

Answer 12

Based on the passage of time; used for accounts that are more time related than task oriented; s/b kept to a minimal level of work packages.

Question 13

Percent Complete: 0/100

Answer 13

0% (nothing) is earned when activity starts; 100% of budget is earned when completed.

Question 14

Percent Complete: 50/50

Answer 14

50% is earned when activity starts; 50% of budget is earned when completed.

Question 15

Percent Complete: 0/50/100

Answer 15

Nothing is earned when activity starts; but budget is earned at 50% and 100% completion.

Question 16

Percent Complete: 25/75

Answer 16

25% is earned when activity starts; 75% of budget is earned when completed.