C722 - Collection Exam | Questions and Answers |
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Terms in this set (21)
Earned Value Management (EVM) The widely accepted method of measuring project
performance and progress of actual cost against
the budgeted/planned cost. The results of this
analysis guide the project manager in determining
whether changes to the project plan or project
resources will be needed in order to meet the
budget and schedule baselines.
Earned Value (EV) This measures both schedule and cost
performance. The results of the analysis are used to
understand the current state of the project and
also make predictions of what the budget
performance will be at project completion. Is the
total dollar budget of the work that has been
completed? Is the dollar value of all work
completed to date. This is based on the baseline
budgeted cost of each activity.
Planned Value (PV) Is the dollar value of all work scheduled to have
been completed to date. This is based on the
baseline schedule and the calendarized baseline
budget.
Verified Solutions | 2026 Edition | Pass
Guaranteed
Save
Terms in this set (21)
Earned Value Management (EVM) The widely accepted method of measuring project
performance and progress of actual cost against
the budgeted/planned cost. The results of this
analysis guide the project manager in determining
whether changes to the project plan or project
resources will be needed in order to meet the
budget and schedule baselines.
Earned Value (EV) This measures both schedule and cost
performance. The results of the analysis are used to
understand the current state of the project and
also make predictions of what the budget
performance will be at project completion. Is the
total dollar budget of the work that has been
completed? Is the dollar value of all work
completed to date. This is based on the baseline
budgeted cost of each activity.
Planned Value (PV) Is the dollar value of all work scheduled to have
been completed to date. This is based on the
baseline schedule and the calendarized baseline
budget.
