Earned Value Analysis _U4_HNC

What is the primary purpose of Earned Value Analysis?

• To ensure safety standards

• To measure performance

• To increase manpower

• To reduce costs

What is the formula for the Cost Performance Index (CPI)?

• CPI = EV + AC

• CPI = EV / AC

• CPI = AC - EV

• CPI = AC / EV

What does EVA facilitate according to industry practitioners?

• Increased costs

• Decision-making and performance improvement

• Reduced manpower

• Enhanced safety measures

What is the significance of a negative cost variance?

• Favorable conditions

• Unfavorable conditions

• Neutral conditions

• No impact

What is the purpose of using graphical tools in EVA?

• To increase costs

• To pinpoint current and future trends

• To reduce manpower

• To enhance safety measures

What is the benefit of understanding EVA terminologies quickly?

• To increase project costs

• To enhance safety measures

• To facilitate quicker understanding of the technique

• To reduce manpower

What is the Earned Value (EV) in project management?

• The percentage of total budget completed at a point in time

• The total budget for the project

• The actual cost of work performed

• The planned cost of work scheduled

What does the acronym BCWS stand for?

• Budget Cost of Work Scheduled

• Budgeted Cost of Work Started

• Budgeted Cost of Work Saved

• Budgeted Cost of Work Stopped

What does the Earned Value Management System relate to?

• Procedures, tools, and techniques for EVM

• Marketing strategies for project promotion

• Environmental policies for project sustainability

• Design principles for project aesthetics

What is another name for BCWP?

• Earned Value

• Planned Value

• Actual Cost

• Budgeted Value