Question 1

Question 1

What is :

• Planned Value
• Earned Value
• Actual cost

Answer 1

Planned value is the budgeted cost of the work that is scheduled.

Earned value is the budgeted cost of the work that is performed

Actual cost is the actual cost of the work performed

Question 2

What do these things stand for:

• EV
• PV
• AC

Answer 2

Earned Value

Planned Value

Actual Cost

Question 3

What is CPI?

What is SPI?

Answer 3

Cost Performance Index - Allows you to see the project budget status (e.g over budget)

Schedule Performance Index - Allows you to see the project schedule status (e.g behind schedule)

Question 4

How do you work out the CPI and SPI

Answer 4

ALWAYS USE EV

CPI - EV/AC
COST - ACTUAL COST

SPI - EV/PV
SCHEDULED - PLANNED VALUE

Question 5

What do SPI and CPI percentages mean?

Answer 5

SPI

<100 = Behind Schedule
100   = On Schedule/Time
>100 = Ahead of Schedule
———————————————
CPI

<100 = Over budget
100   = In line with budget
>100 = Under budget

Question 6

What is SV and CV

And how do you work it out?

Answer 6

Schedule Variant = EV-PV

Cost Variant = EV-AC