EVM 101 FINAL EXAM STUDY GUIDE 2026 COMPLETE QUESTIONS WITH CORRECT DETAILED ANSWERS || 100% GUARANTEED PASS <LATEST VERSION>

EVM 101 FINAL EXAM STUDY GUIDE 2026
COMPLETE QUESTIONS WITH CORRECT
DETAILED ANSWERS || 100% GUARANTEED
PASS <LATEST VERSION>
EVM 101 Final Exam Study Guide 2026
1. What does EVM stand for?
A) Earned Value Measurement
B) Earned Value Management
C) Estimated Value Method
D) Economic Value Model
Answer: Earned Value Management (EVM) is a project management methodology
that integrates scope, schedule, and cost to objectively measure project
performance and progress.
2. The three fundamental elements of EVM are:
A) Scope, Time, Quality
B) Planned Value, Actual Cost, Earned Value
C) BAC, EAC, VAC
D) CPI, SPI, TCPI
Answer: PV (Planned Value), AC (Actual Cost), and EV (Earned Value) are the three
primary data points used for all EVM calculations.
3. Planned Value (PV) is also known as:
A) Actual Cost of Work Performed (ACWP)
B) Earned Value (EV)
C) Budget at Completion (BAC)
D) Budgeted Cost of Work Scheduled (BCWS)
Answer: PV is the authorized budget assigned to scheduled work. Its traditional
acronym is BCWS.

,4. Earned Value (EV) is also known as:
A) Budgeted Cost of Work Performed (BCWP)
B) Actual Cost of Work Performed (ACWP)
C) Budget at Completion (BAC)
D) Estimate at Completion (EAC)
Answer: EV is the measure of work performed expressed in terms of the budget
authorized for that work. Its traditional acronym is BCWP.
5. Actual Cost (AC) is also known as:
A) Budgeted Cost of Work Performed (BCWP)
B) Actual Cost of Work Performed (ACWP)
C) Budgeted Cost of Work Scheduled (BCWS)
D) Cost Performance Index (CPI)
Answer: AC is the total costs incurred for accomplishing the work performed
during a given time period. Its traditional acronym is ACWP.
6. If a project has a Budget at Completion (BAC) of $100,000 and is 40%
complete, what is the Earned Value (EV)?
A) $40,000
B) $60,000
C) $100,000
D) Cannot be determined
*Answer: EV = % Complete * BAC = 0.40 * $100,000 = $40,000.*
7. At the end of a project, the Planned Value (PV) will always equal:
A) The Actual Cost (AC)
B) The Earned Value (EV)
C) The Budget at Completion (BAC)
D) The Estimate at Completion (EAC)
Answer: At project completion, all the planned work (PV) will equal the total
project budget (BAC).
8. Schedule Variance (SV) is calculated as:
A) EV - AC

, B) PV - EV
C) EV - PV
D) AC - EV
Answer: SV = EV - PV. A positive value indicates the project is ahead of schedule.
9. Cost Variance (CV) is calculated as:
A) EV - PV
B) EV - AC
C) PV - EV
D) AC - EV
Answer: CV = EV - AC. A positive value indicates the project is under budget.
10. A negative Cost Variance (CV) means:
A) The project is under budget
B) The project is over budget
C) The project is ahead of schedule
D) The project is behind schedule
*Answer: A negative CV (EV - AC < 0) means the earned value is less than the
actual cost, indicating a cost overrun.*
11. A positive Schedule Variance (SV) means:
A) The project is over budget
B) The project is under budget
C) The project is behind schedule
D) The project is ahead of schedule
*Answer: A positive SV (EV - PV > 0) means the earned value is greater than the
planned value, indicating work is being completed faster than planned.*
12. The Cost Performance Index (CPI) is calculated as:
A) EV / PV
B) AC / EV
C) EV / AC
D) PV / EV
Answer: CPI = EV / AC. It represents the cost efficiency of the work performed.