You are the project manager of the OOI Project and you’re forty percent complete with this project.
The project has a BAC of $2,345,650 and you have spent $950,000 to date. Based on your
aggressive scheduling you should at the 45 percent milestone today, but due to some early delays
you’re running late. What is the schedule variance of your project?

A.
-$29,350

B.
-$117,282

C.
-$938,260

D.
-$11,740

Explanation:
The schedule variance is the earned value minus the planned value. In this instance, it is
$938,260-$1,055,543 = -$117,282. Schedule variance (SV) is a measure of schedule performance
on a project. The variance notifies that the schedule is ahead or behind what was planned for this
period in time. The schedule variance is calculated based on the following formula: SV = Earned
Value (EV) – Planned Value (PV) If the resulting schedule is negative, it indicates that the project is
behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule.
A value of 0 indicates that the project is right on target.
Answer option D is incorrect. This is the cost variance for the project.
Answer option A is incorrect. This is the variance at completion.
Answer option C is incorrect. This is the inverse of the earned value.