WGU C722: Understanding Project Management Formulas – Module 31

WGU C722: Understanding Project Management Formulas – Module
31

Cost Variance - correct answer ✔✔the difference between EV and AC to determine of the project is
meeting its budget expectations



Cost Performance Index - correct answer ✔✔a ratio that measures COST efficiency



Schedule Variance - correct answer ✔✔difference between EV and PV to determine if the project is
meeting its schedule expectations or if there is a variance



Schedule Performance Index - correct answer ✔✔a ratio that creates a measure of TIME efficiency



To Complete Performance Index - correct answer ✔✔what the CPI will need for the remainder of the
project if the team intends to finish on budget.



Percent Complete Index - correct answer ✔✔how much the total project work has been completed.



Estimate to Complete - correct answer ✔✔an estimate of how much money will be needed to complete
the project



Estimate at Completion - correct answer ✔✔new forecast of how much more in total the project is
expected to cost once completed



Cost Variance - correct answer ✔✔EV - AC = CV



Cost Performance Index - correct answer ✔✔EV/AC = CPI



Schedule Variance - correct answer ✔✔EV - PV = SV