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Practice Exam
1. What is Earned Value Management (EVM)? A) A project management technique used to measure performance B) A type of project schedule C) A method of cost estimation D) A quality control process Answer: A) A project management technique used to measure performance Explanation: Earned Value Management is a project management technique used to measure performance and progress by comparing the actual cost, schedule, and scope of a project to the planned values. 2. What is the primary objective of Earned Value Management? A) To reduce project costs B) To improve project schedules C) To measure project performance and progress D) To increase project scope Answer: C) To measure project performance and progress Explanation: The primary objective of Earned Value Management is to measure project performance and progress by comparing actual and planned values. 3. What is the definition of Earned Value (EV)? A) Actual Cost (AC) x Performance Index (PI)
Practice Exam
B) Budgeted Cost (BC) x Performance Index (PI) C) Actual Cost (AC) x Budgeted Cost (BC) D) Actual Cost (AC) - Budgeted Cost (BC) Answer: B) Budgeted Cost (BC) x Performance Index (PI) Explanation: Earned Value is defined as the budgeted cost multiplied by the performance index, which represents the amount of work completed as a percentage of the planned work. 4. What is the Performance Index (PI)? A) Actual Cost (AC) / Budgeted Cost (BC) B) Budgeted Cost (BC) / Actual Cost (AC) C) Actual Cost (AC) / Budgeted Cost (BC) D) Budgeted Cost (BC) / Budgeted Cost (BC) Answer: C) Actual Cost (AC) / Budgeted Cost (BC) Explanation: The Performance Index is the ratio of actual cost to budgeted cost, which represents the amount of work completed as a percentage of the planned work. 5. What is the Cost Variance (CV)? A) Earned Value (EV) - Actual Cost (AC) B) Budgeted Cost (BC) - Earned Value (EV) C) Earned Value (EV) - Budgeted Cost (BC) D) Actual Cost (AC) - Budgeted Cost (BC)
Practice Exam
8. What is the Schedule Performance Index (SPI)? A) Earned Value (EV) / Budgeted Cost (BC) B) Budgeted Cost (BC) / Earned Value (EV) C) Earned Value (EV) / Actual Cost (AC) D) Actual Cost (AC) / Earned Value (EV) Answer: A) Earned Value (EV) / Budgeted Cost (BC) Explanation: The Schedule Performance Index is the ratio of earned value to budgeted cost, which represents the ability to complete work within schedule. 9. What is the definition of At Completion (AC)? A) The total budget for the project B) The total cost of the project C) The total earned value of the project D) The total actual cost of the project Answer: B) The total cost of the project Explanation: At Completion is the total cost of the project, which includes all actual costs and any changes to the budget. 10. What is the definition of Planned Value (PV)?
Practice Exam
A) The budgeted cost for the project B) The earned value of the project C) The actual cost of the project D) The cost of completing the project Answer: A) The budgeted cost for the project Explanation: Planned Value is the budgeted cost for the project, which represents the planned value of work completed. 11. What is the definition of Actual Cost (AC)? A) The total budget for the project B) The total earned value of the project C) The total cost of the project D) The actual cost incurred for the project Answer: D) The actual cost incurred for the project Explanation: Actual Cost is the actual cost incurred for the project, which includes all actual expenditures. 12. What is the definition of Budget at Completion (BAC)? A) The total budget for the project B) The total cost of the project C) The total earned value of the project
Practice Exam
Explanation: Earned Value is the earned value of the project, which represents the value of work completed. 15. What is the definition of Budgeted Cost of Work Scheduled (BCWS)? A) The total budget for the project B) The total cost of the project C) The budgeted cost of the project D) The budgeted cost of work scheduled Answer: D) The budgeted cost of work scheduled Explanation: Budgeted Cost of Work Scheduled is the budgeted cost of work scheduled, which represents the budgeted cost of work to be done. 16. What is the definition of Budgeted Cost of Work Performed (BCWP)? A) The total budget for the project B) The total cost of the project C) The budgeted cost of the project D) The budgeted cost of work performed Answer: D) The budgeted cost of work performed Explanation: Budgeted Cost of Work Performed is the budgeted cost of work performed, which represents the budgeted cost of work completed.
Practice Exam
17. What is the definition of Variance at Completion (VAC)? A) The actual cost of the project B) The budgeted cost for the project C) The total cost of the project D) The variance at completion Answer: D) The variance at completion Explanation: Variance at Completion is the variance at completion, which represents the difference between planned and actual costs at completion. 18. What is the definition of Earned Value Index (EVI)? A) The ratio of earned value to actual cost B) The ratio of budgeted cost to actual cost C) The ratio of earned value to budgeted cost D) The ratio of actual cost to earned value Answer: C) The ratio of earned value to budgeted cost Explanation: Earned Value Index is the ratio of earned value to budgeted cost, which represents the ability to complete work within budget. 19. What is the definition of Schedule Performance Index (SPI)? A) The ratio of earned value to actual cost B) The ratio of budgeted cost to actual cost
Practice Exam
Answer: A) A set of metrics used to measure project performance Explanation: EVM metrics are a set of metrics used to measure project performance and progress. 22. What is the purpose of Earned Value Management (EVM) metrics? A) To measure project costs B) To measure project schedules C) To measure project performance and progress D) To measure project scope Answer: C) To measure project performance and progress Explanation: The purpose of EVM metrics is to measure project performance and progress by comparing actual and planned values. 23. What is the definition of Baseline Cost? A) The total budget for the project B) The total cost of the project C) The budgeted cost of the project D) The baseline cost Answer: C) The budgeted cost of the project Explanation: Baseline Cost is the budgeted cost of the project, which represents the planned cost of the project.
Practice Exam
24. What is the definition of Budget? A) The total budget for the project B) The total cost of the project C) The budgeted cost of the project D) The budget Answer: C) The budgeted cost of the project Explanation: Budget is the budgeted cost of the project, which represents the planned cost of the project. 25. What is the definition of Cost Variance (CV)? A) The difference between earned value and actual cost B) The difference between budgeted cost and earned value C) The difference between actual cost and earned value D) The difference between earned value and budgeted cost Answer: A) The difference between earned value and actual cost Explanation: Cost Variance is the difference between earned value and actual cost, which represents the difference between planned and actual costs. 26. What is the definition of Schedule Variance (SV)? A) The difference between earned value and budgeted cost
Practice Exam
Answer: A) The ratio of earned value to budgeted cost Explanation: Schedule Performance Index is the ratio of earned value to budgeted cost, which represents the ability to complete work within schedule. 29. What is the definition of Earned Value (EV)? A) The actual cost of the project B) The budgeted cost for the project C) The earned value of the project D) The budgeted cost of the project Answer: C) The earned value of the project Explanation: Earned Value is the earned value of the project, which represents the value of work completed. 30. What is the definition of Budget at Completion (BAC)? A) The total budget for the project B) The total cost of the project C) The total earned value of the project D) The budget at completion Answer: D) The budget at completion Explanation: Budget at Completion is the budget at completion, which represents the planned budget for the project at completion.
Practice Exam
31. What is the definition of At Completion (AC)? A) The total budget for the project B) The total cost of the project C) The total earned value of the project D) The actual cost at completion Answer: B) The total cost of the project Explanation: At Completion is the total cost of the project, which includes all actual costs and any changes to the budget. 32. What is the definition of Earned Value Index (EVI)? A) The ratio of earned value to actual cost B) The ratio of budgeted cost to actual cost C) The ratio of earned value to budgeted cost D) The ratio of actual cost to earned value Answer: C) The ratio of earned value to budgeted cost Explanation: Earned Value Index is the ratio of earned value to budgeted cost, which represents the ability to complete work within budget. 33. What is the definition of Schedule Performance Index (SPI)?
Practice Exam
D) A quality control process Answer: A) A set of metrics used to measure project performance Explanation: EVM metrics are a set of metrics used to measure project performance and progress. 36. What is the purpose of Earned Value Management (EVM) metrics? A) To measure project costs B) To measure project schedules C) To measure project performance and progress D) To measure project scope Answer: C) To measure project performance and progress Explanation: The purpose of EVM metrics is to measure project performance and progress by comparing actual and planned values. 37. What is the definition of Baseline Cost? A) The total budget for the project B) The total cost of the project C) The budgeted cost of the project D) The baseline cost Answer: C) The budgeted cost of the project
Practice Exam
Explanation: Baseline Cost is the budgeted cost of the project, which represents the planned cost of the project. 38. What is the definition of Budget? A) The total budget for the project B) The total cost of the project C) The budgeted cost of the project D) The budget Answer: C) The budgeted cost of the project Explanation: Budget is the budgeted cost of the project, which represents the planned cost of the project. 39. What is the definition of Cost Variance (CV)? A) The difference between earned value and actual cost B) The difference between budgeted cost and earned value C) The difference between actual cost and earned value D) The difference between earned value and budgeted cost Answer: A) The difference between earned value and actual cost Explanation: Cost Variance is the difference between earned value and actual cost, which represents the difference between planned and actual costs.
Practice Exam
C) The ratio of earned value to actual cost D) The ratio of actual cost to earned value Answer: A) The ratio of earned value to budgeted cost Explanation: Schedule Performance Index is the ratio of earned value to budgeted cost, which represents the ability to complete work within schedule. 43. What is the definition of Earned Value (EV)? A) The actual cost of the project B) The budgeted cost for the project C) The earned value of the project D) The budgeted cost of the project Answer: C) The earned value of the project Explanation: Earned Value is the earned value of the project, which represents the value of work completed. 44. What is the definition of Budget at Completion (BAC)? A) The total budget for the project B) The total cost of the project C) The total earned value of the project D) The budget at completion
Practice Exam
Answer: D) The budget at completion Explanation: Budget at Completion is the budget at completion, which represents the planned budget for the project at completion. 45. What is the definition of At Completion (AC)? A) The total budget for the project B) The total cost of the project C) The total earned value of the project D) The actual cost at completion Answer: B) The total cost of the project Explanation: At Completion is the total cost of the project, which includes all actual costs and any changes to the budget. 46. What is the definition of Earned Value Index (EVI)? A) The ratio of earned value to actual cost B) The ratio of budgeted cost to actual cost C) The ratio of earned value to budgeted cost D) The ratio of actual cost to earned value Answer: C) The ratio of earned value to budgeted cost Explanation: Earned Value Index is the ratio of earned value to budgeted cost, which represents the ability to complete work within budget.
