1) A cost variance greater than zero implies what? a) The project is under budget. b) The project is over budget. c) Actual cost (AC) is more than earned value (EV). d) Cost performance is as per the baseline plan. 2) A schedule variance (SV) less than zero implies what? a) The project is behind schedule. b) The project is ahead of schedule. c) Schedule progress is as per the baseline plan. d) Earned Value (EV) is greater than Planned (PV). 3) A project is experiencing cost overrun. What is true about the cost performance index (CPI)? a) CPI is less than 1. b) CPI is equal to 1. c) CPI is greater than 1. 4) A project manager expects that the project would finish one month before the planned finish date. However, he expects that the project to exceed the budgeted cost. What is true about the Schedule Performance Index (SPI) a) SPI is less than 1.0. b) SPI is greater than 1.0. c) SPI is equal to 1.0. 5) If a project had a CPI of 1.09 what would this indicate about the project's current status? a) It is nine percent ahead of schedule. b) It has currently overspent. c) It has underspent by nine percent. d) It is over budget. 6) If a project's current SPI is 0.84 and this performance was planned to continue until the project finished, what could be deduced from this information? a) The project is likely to finish on time. b) The project is likely to finish early. c) The project is likely to finish late. d) The project is likely to finish underspent. 7) In the diagram what could be concluded about the current schedule performance of the project? a) The project is behind schedule and overspent. b) The project is behind schedule and under budget. c) The project is ahead of schedule and overspent. 8) In the diagram, if the current performance were to continue to the end of the project, what would be the most likely outcome? a) The project will finish late and be underspent. b) The project will finish early and be underspent. c) The project will finish early and be overspent. d) The project will finish late and be overspent. 9) What does the information in this table show you about the performance of this project? a) It was over budget and finished late. b) It was under budget and finished late. c) It was over budget and finished early. d) It was under budget and finished early.

Earned Value Management

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