Which of the following should an IS auditor review to understand project progress in terms of time, budget and
deliverables for early detection of possible overruns and for projecting estimates at completion (EACs)?

A.
Function point analysis

B.
Earned value analysis

C.
Cost budget

D.
Program Evaluation and Review Technique

Explanation:
Earned value analysis (EVA) is an industry standard method for measuring a project’s progress at any given
point in time, forecasting its completion date and final cost, and analyzing variances in the schedule and budget
as the project proceeds. It compares the planned amount of work with what has actually been completed, to
determine if the cost, schedule and work accomplished are progressing in accordance with the plan. EVA
works most effectively if a well-formed work breakdown structure exists. Function point analysis (FPA) is an
indirect measure of software size and complexity and, therefore, does not address the elements of time and
budget. Cost budgets do not address time. PERT aids in time and deliverables management, but lacks
projections for estimates at completion (EACs) and overall financial management.