CAPM EXAM CERTIFICATION NEW UPDATE 2023 WITH COMPLETE SOLUTIONS

CAPM EXAM CERTIFICATION NEW UPDATE 2023 WITH COMPLETE SOLUTIONS What does RFP stand for? - CORRECT ANSWER Request for Proposal What does PV stand for? - CORRECT ANSWER Present Value What is planned value? - CORRECT ANSWER the authorized budget assigned to a work schedule What does EV stand for? - CORRECT ANSWER Earned Value What is earned value? - CORRECT ANSWER the measure of work performed expressed in terms of the budget authorized for that work What does AC stand for? - CORRECT ANSWER Actual Cost What is actual cost? - CORRECT ANSWER the realized cost incurred for the work performed on an activity during a specific time period What does BAC stand for? - CORRECT ANSWER Budget at Completion What is the budget at completion? - CORRECT ANSWER the sum of all budgets established for the work to be performed What does CV stand for? - CORRECT ANSWER Cost Variance What is cost variance? - CORRECT ANSWER the amount of budget deficit or surplus at a given point in time What is the formula for cost variance? - CORRECT ANSWER CV=EV-AC What does SV stand for? - CORRECT ANSWER Schedule Variance What does schedule variance mean? - CORRECT ANSWER the amount by which a project is ahead or behind the planned delivery date at any given point in time What is the formula for schedule variance? - CORRECT ANSWER SV=EV-PV What does VAC stand for? - CORRECT ANSWER Variance at Completion