Mod 7 Unit 3

The Earned Value (EV) of a project is:

• The actual cost incurred for the work completed.

• The planned cost of the total project.

• The value of work actually performed.

• The difference between planned and actual progress.

EVA measures separately for a specific point in time:

• Net profit

• Economic profit

• Operating profit

• Shareholder value

Which of the following is a component of EVM?

• Earned Value (EV)

• Project Value (PV)

• Budgeted Value (BV)

• Scheduled Value (SV)

The planned value (PV) is based on which of the following?

• Baseline budgeted cost

• Baseline schedule

• Actual cost

• Project manager's estimate

The actual cost (AC) in project management is:

• the total cost incurred for the actual work completed during a specific time period.

• the estimated cost of the project at completion.

• the budgeted cost of work scheduled.

• the difference between earned value and planned value.

Budget at completion (BAC) in project management is:

• The total budget allocated for the project.

• The amount spent on the project so far.

• The estimated cost to complete the project.

• The difference between the planned and actual budget.

The earned value (EV) of each activity in EVA measures is calculated by:

• Multiplying the percentage of work completed by the project budget

• Dividing the total project budget by the number of activities

• Adding the actual cost to the planned value

• Subtracting the planned value from the actual cost

What does the 50-50 rule state about the completion of an activity?

• An activity is 25% complete when started and 100% upon completion.

• An activity is 50% complete when started and 100% upon completion.

• An activity is 0% complete when started and 100% upon completion.

• An activity is 50% complete when started and 75% upon completion.

The percentage complete for each activity in the project is calculated by:

• Dividing the total number of completed tasks by the total number of tasks

• Estimating the time spent on the activity

• Using a project management software

• Consulting with the project manager

Fill in the blank: CV = EV - ____.

• CV = EV - PV

• CV = EV - AC

• CV = EV - SV

• CV = EV - BAC