EVM 101 Fundamentals of Earned Value
Management Exam Practice Questions
And Correct Answers (Verified Answers)
Plus Rationale 2027 Q&A| Instant
Download Pdf.
1. The primary purpose of Earned Value Management (EVM) is to:
A. Integrate scope, schedule, and cost performance measurement
B. Replace all project management processes
C. Eliminate the need for budgets
D. Focus only on financial reporting
Answer: A
Rationale: EVM integrates scope, schedule, and cost data to provide
objective measurement of project performance.
2. Earned Value Management compares:
,A. Planned work, completed work, and actual costs
B. Employee performance and salaries
C. Contract terms and vendor selection
D. Design quality and production rates
Answer: A
Rationale: EVM evaluates performance by comparing what was planned,
what was accomplished, and what was spent.
3. Planned Value (PV) represents:
A. The authorized budget for scheduled work at a specific point in time
B. The actual cost of completed work
C. The value of completed work
D. The remaining project budget
Answer: A
Rationale: Planned Value is the approved budget assigned to work
scheduled to be completed by a certain date.
4. Earned Value (EV) represents:
A. The budgeted value of work actually completed
B. The amount of money spent
,C. The total project budget
D. The remaining available funds
Answer: A
Rationale: Earned Value measures completed work using its planned
budget value.
5. Actual Cost (AC) represents:
A. The real cost incurred for completed work
B. The planned budget for future work
C. The value of unfinished work
D. The authorized project reserve
Answer: A
Rationale: Actual Cost reflects the resources actually consumed to perform
the work.
6. The formula for Schedule Variance (SV) is:
A. EV − PV
B. EV − AC
C. PV − EV
D. AC − EV
Answer: A
, Rationale: Schedule Variance compares earned progress against planned
progress.
7. The formula for Cost Variance (CV) is:
A. EV − AC
B. PV − EV
C. AC − PV
D. EV − PV
Answer: A
Rationale: Cost Variance determines whether completed work cost more or
less than planned.
8. A positive Schedule Variance indicates:
A. More work has been completed than planned
B. The project is behind schedule
C. Costs exceed the budget
D. The project is complete
Answer: A
Rationale: Positive SV means earned value exceeds planned value,
indicating ahead-of-schedule performance.
9. A negative Cost Variance indicates:
Management Exam Practice Questions
And Correct Answers (Verified Answers)
Plus Rationale 2027 Q&A| Instant
Download Pdf.
1. The primary purpose of Earned Value Management (EVM) is to:
A. Integrate scope, schedule, and cost performance measurement
B. Replace all project management processes
C. Eliminate the need for budgets
D. Focus only on financial reporting
Answer: A
Rationale: EVM integrates scope, schedule, and cost data to provide
objective measurement of project performance.
2. Earned Value Management compares:
,A. Planned work, completed work, and actual costs
B. Employee performance and salaries
C. Contract terms and vendor selection
D. Design quality and production rates
Answer: A
Rationale: EVM evaluates performance by comparing what was planned,
what was accomplished, and what was spent.
3. Planned Value (PV) represents:
A. The authorized budget for scheduled work at a specific point in time
B. The actual cost of completed work
C. The value of completed work
D. The remaining project budget
Answer: A
Rationale: Planned Value is the approved budget assigned to work
scheduled to be completed by a certain date.
4. Earned Value (EV) represents:
A. The budgeted value of work actually completed
B. The amount of money spent
,C. The total project budget
D. The remaining available funds
Answer: A
Rationale: Earned Value measures completed work using its planned
budget value.
5. Actual Cost (AC) represents:
A. The real cost incurred for completed work
B. The planned budget for future work
C. The value of unfinished work
D. The authorized project reserve
Answer: A
Rationale: Actual Cost reflects the resources actually consumed to perform
the work.
6. The formula for Schedule Variance (SV) is:
A. EV − PV
B. EV − AC
C. PV − EV
D. AC − EV
Answer: A
, Rationale: Schedule Variance compares earned progress against planned
progress.
7. The formula for Cost Variance (CV) is:
A. EV − AC
B. PV − EV
C. AC − PV
D. EV − PV
Answer: A
Rationale: Cost Variance determines whether completed work cost more or
less than planned.
8. A positive Schedule Variance indicates:
A. More work has been completed than planned
B. The project is behind schedule
C. Costs exceed the budget
D. The project is complete
Answer: A
Rationale: Positive SV means earned value exceeds planned value,
indicating ahead-of-schedule performance.
9. A negative Cost Variance indicates:
