Which of the following statements are True and False about Earned Value Management?
The Following are True:
It is used to monitor and control cost
It is used to monitor and control schedule
Combines scope, schedule, and resource measurements
The Following are True:
It is used to monitor and control cost
It is used to monitor and control schedule
Combines scope, schedule, and resource measurements
 It is used to monitor and control cost
 It is used to monitor and control schedule
 Is not applicable to some projects
 Combines scope, schedule, and resource measurements
 You cannot expect value generation in your project just because you are spending money
Which variables would be considered "Planned" variables that indicate planned performance for the project?
Answers:
PV
BAC
Answers:
PV
BAC
 EV
 PV
 BAC
 AC
 ETC
Which of the following would be considered "Actual" variables that indicate current performance for the project?
Answers:
EV
AC
SV
CPI
SPI
CV
Answers:
EV
AC
SV
CPI
SPI
CV
 EV
 ETC
 AC
 SV
 CPI
 EAC
 SPI
 CV
Which of the following would be considered "Forecast" variables that indicate future expected performance for the project based on current performance?
Answers:
VAC
ETC
EAC
Answers:
VAC
ETC
EAC
 VAC
 PV
 ETC
 EAC
 TCPI
 CPI
Which of the following would be considered "Target" variables that indicate the performance that needs to be achieved in order to realize a specific management goal?
Answer:
TCPI
Answer:
TCPI
 CPI
 VAC
 TCPI
 PV
 BAC
Match the variables with their correct practical description.
Answers:
BAC  The total original expected cost of the entire project
PV  The work that should have been completed at any given point in time.
EV  The work that has actually been completed at any given point in time
SV  How far ahead or behind schedule?
SPI  Schedule efficiency
CV  How much over or under budget?
Answers:
BAC  The total original expected cost of the entire project
PV  The work that should have been completed at any given point in time.
EV  The work that has actually been completed at any given point in time
SV  How far ahead or behind schedule?
SPI  Schedule efficiency
CV  How much over or under budget?

BACThe total original expected cost of the entire project

PVThe work that should have been completed at any given point in time.

EVThe work that has actually been completed at any given point in time

SVHow far ahead or behind schedule?

SPISchedule efficiency

CVHow much over or under budget?
Match the variables with their correct practical description.
Answers:
CPI  Cost efficiency
EAC  The new expected total cost for the project based on project performance to date
VAC  The difference between the original expected cost of the project (BAC) and the new expected cost of the project (EAC). The estimated total cost savings or overrun
ETC  How much MORE money should it take to complete the remaining work of the project?
TCPI  The cost performance that is required with remaining resources to meet a specified management goal for the project.
AC  The amount of money actually spent to achieve the EV
Answers:
CPI  Cost efficiency
EAC  The new expected total cost for the project based on project performance to date
VAC  The difference between the original expected cost of the project (BAC) and the new expected cost of the project (EAC). The estimated total cost savings or overrun
ETC  How much MORE money should it take to complete the remaining work of the project?
TCPI  The cost performance that is required with remaining resources to meet a specified management goal for the project.
AC  The amount of money actually spent to achieve the EV

CPICost efficiency

EACThe new expected total cost for the project based on project performance to date

VACThe difference between the original expected cost of the project (BAC) and the new expected cost of the project (EAC). The estimated total cost savings or overrun

ETCHow much MORE money should it take to complete the remaining work of the project?

TCPIThe cost performance that is required with remaining resources to meet a specified management goal for the project.

ACThe amount of money actually spent to achieve the EV
Match the EVM variables with their correct formula.
Answers:
BAC  Sum of all budgets
PV  BAC X Planned % Complete
EV  BAC X Actual % Complete
SV  EVPV
SPI  EV/PV
CV  EVAC
Answers:
BAC  Sum of all budgets
PV  BAC X Planned % Complete
EV  BAC X Actual % Complete
SV  EVPV
SPI  EV/PV
CV  EVAC

BACSum of all budgets

PVBAC X Planned % Complete

EVBAC X Actual % Complete

SVEVPV

SPIEV/PV

CVEVAC
Match the EVM variables with their correct formula.
Answers:
CPI  EV/AC
EAC  BAC/CPI
VAC  BACEAC
ETC  EACAC
TCPI  (BACEV)/(BACAC) or (EACAC)
AC  Sum of all actual costs for the project
Answers:
CPI  EV/AC
EAC  BAC/CPI
VAC  BACEAC
ETC  EACAC
TCPI  (BACEV)/(BACAC) or (EACAC)
AC  Sum of all actual costs for the project

CPIEV/AC

EACBAC/CPI

VACBACEAC

ETCEACAC

TCPI(BACEV)/(BACAC) or (EACAC)

ACSum of all actual costs for the project
Place the EVM variables on the formula map where they belong.
 BAC
 PV
 EV
 SV
 SPI
 AC
 CV
 CPI
 EAC
 VAC
 ETC
 TCPI
 Actual
 Planned
Which of the following statements are True and False about Earned Value Management?
The Following are True:
TCPI is the cost performance that is required with remaining resources to meet a specified management goal for the project.
TCPI is equal to the Work Remaining divided by the Funds remaining
TCPI can be viewed as the CPI required to achieve a desired management goal
The Following are True:
TCPI is the cost performance that is required with remaining resources to meet a specified management goal for the project.
TCPI is equal to the Work Remaining divided by the Funds remaining
TCPI can be viewed as the CPI required to achieve a desired management goal
 TCPI is the same as CPI
 TCPI is the cost performance that is required with remaining resources to meet a specified management goal for the project.
 TCPI can be determined for a target of EAC or ETC
 TCPI is equal to the Work Remaining divided by the Funds remaining
 TCPI stands for Total Complete Performance Index
 TCPI can be viewed as the CPI required to achieve a desired management goal
Match the EAC formula to it's correct description.
Answers:
EAC = BAC/CPI: Assumes CPI will remain constant
EAC = AC + BAC – EV: Accepts actual project performance (AC) and predicts future performance will happen at originally budgeted rate
EAC = AC + BottomUp Estimate: If original plan is no longer valid, the PM performs a manual forecast and adds that to the current AC. Considered most accurate.
EAC = AC + [(BACEV)/(CPIxSPI)]: Used if schedule performance is a factor in completing the remaining work at the ETC. CPI & SPI can also be weighted according the PM judgement
Answers:
EAC = BAC/CPI: Assumes CPI will remain constant
EAC = AC + BAC – EV: Accepts actual project performance (AC) and predicts future performance will happen at originally budgeted rate
EAC = AC + BottomUp Estimate: If original plan is no longer valid, the PM performs a manual forecast and adds that to the current AC. Considered most accurate.
EAC = AC + [(BACEV)/(CPIxSPI)]: Used if schedule performance is a factor in completing the remaining work at the ETC. CPI & SPI can also be weighted according the PM judgement

EAC = BAC/CPIAssumes CPI will remain constant

EAC = AC + BAC – EVAccepts actual project performance (AC) and predicts future performance will happen at originally budgeted rate

EAC = AC + BottomUp EstimateIf original plan is no longer valid, the PM performs a manual forecast and adds that to the current AC. Considered most accurate.

EAC = AC + [(BACEV)/(CPIxSPI)]Used if schedule performance is a factor in completing the remaining work at the ETC. CPI & SPI can also be weighted according the PM judgement
Based on the EVM problem below, place the values in the correct cell on the table beside their appropriate EVM variable.
 $400K
 $100K
 $75K
 ($25K)
 .75
 $90K
 ($15K)
 .83
 $482K
 ($82K)
 $392K
 1.05
Match the project performance measurements with their correct interpretation.
Answers:
SPI=1.2, CV=($10K)  Ahead of Schedule, Over Budget
CV=$23K, SV=($5K)  Under Budget, Behind Schedule
CPI=1.01, SPI=1.1  Under Budget, Ahead of Schedule
CPI=.96, SV=($3K)  Over Budget, Behind Schedule
CV=($12K), SPI=2.0  Over Budget, Ahead of Schedule
SV=$4K, CPI=1.3  Ahead of Schedule, Under Budget
SPI=.85, CPI=.99  Behind Schedule, Over Budget
SV=($25K), CV=$1K  Behind Schedule, Under Budget

SPI=1.2, CV=($10K)Ahead of Schedule, Over Budget

CV=$23K, SV=($5K)Under Budget, Behind Schedule

CPI=1.01, SPI=1.1Under Budget, Ahead of Schedule

CPI=.96, SV=($3K)Over Budget, Behind Schedule

CV=($12K), SPI=2.0Over Budget, Ahead of Schedule

SV=$4K, CPI=1.3Ahead of Schedule, Under Budget

SPI=.85, CPI=.99Behind Schedule, Over Budget

SV=($25K), CV=$1KBehind Schedule, Under Budget
Put the steps to solving EVM problems into the proper sequence from Step 1 through Step 5.
The Correct Sequence is:
What unknown variable you are being asked to solve for?
What formulas you can use to solve for it?
What variables are known by information provided?
Plug known variables into the formulas and identify the formula that allows you to solve for the unknown variable.
Solve for the unknown variable
The Correct Sequence is:
What unknown variable you are being asked to solve for?
What formulas you can use to solve for it?
What variables are known by information provided?
Plug known variables into the formulas and identify the formula that allows you to solve for the unknown variable.
Solve for the unknown variable
 What unknown variable you are being asked to solve for?
 What formulas you can use to solve for it?
 What variables are known by information provided?
 Plug known variables into the formulas and identify the formula that allows you to solve for the unknown variable.
 Solve for the unknown variable