EVM 101 COMPREHENSIVE EXAM PREP
QUESTIONS AND SOLUTIONS VERIFIED
STUDY RESOURCE
●● Define Earned Value (EV)
Answer: How much work HAS actually been done by now (in £)
●● Define Actual Cost (AC)
Answer: How much we've actually SPENT so far
●● Formula: Schedule Variance (SV)
Answer: SV = EV - PV
●● Formula: Cost Variance (CV)
Answer: CV = EV - AC
●● Formula: Schedule Performance Index (SPI)
Answer: SPI = EV / PV
●● Formula: CPI
Answer: CPI = EV / AC
, ●● SV is positive — what does this mean?
Answer: Ahead of schedule ✅
●● SV is negative — what does this mean?
Answer: Behind schedule ⚠️
●● CV is positive — what does this mean?
Answer: Under budget ✅
●● CV is negative — what does this mean?
Answer: Over budget ⚠️
●● SPI > 1.0 means?
Answer: Delivering more work than planned — ahead of schedule ✅
●● SPI < 1.0 means?
Answer: Delivering more work than planned — ahead of schedule ✅
●● SPI < 1.0 means?
Answer: Delivering less work than planned — behind schedule ⚠️
QUESTIONS AND SOLUTIONS VERIFIED
STUDY RESOURCE
●● Define Earned Value (EV)
Answer: How much work HAS actually been done by now (in £)
●● Define Actual Cost (AC)
Answer: How much we've actually SPENT so far
●● Formula: Schedule Variance (SV)
Answer: SV = EV - PV
●● Formula: Cost Variance (CV)
Answer: CV = EV - AC
●● Formula: Schedule Performance Index (SPI)
Answer: SPI = EV / PV
●● Formula: CPI
Answer: CPI = EV / AC
, ●● SV is positive — what does this mean?
Answer: Ahead of schedule ✅
●● SV is negative — what does this mean?
Answer: Behind schedule ⚠️
●● CV is positive — what does this mean?
Answer: Under budget ✅
●● CV is negative — what does this mean?
Answer: Over budget ⚠️
●● SPI > 1.0 means?
Answer: Delivering more work than planned — ahead of schedule ✅
●● SPI < 1.0 means?
Answer: Delivering more work than planned — ahead of schedule ✅
●● SPI < 1.0 means?
Answer: Delivering less work than planned — behind schedule ⚠️
