Amy is working on a project which is forty percent complete though it was scheduled to be fifty
percent complete as of today. Management has asked Amy to report on the schedule variance for
her project. If Amy’s project has a BAC of $750,000 and she has spent $485,000 to date, what is
the schedule variance value?

A.
-$75,000
Communications bull’s eye

B.
-$42,000
Performance goals

C.
-$45,000
Planned value is the percentage of where the project should be at this time multiplied by the BA
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. In this example, EV = 40% of BAC = 300,000, and
PV = 50% of BAC = 375,000 SV = 300,000 – 375,000 = -75,000
Answer options C, B, and D are incorrect. These are not the correct values for the schedule
variance.
QUESTION 82

You are the project manager of the GHE Project. You have identified the following risks with the
characteristics as shown in the following figure:

Earned value management goals

D.
-$65,000
Project exception report

C.
-$45,000
Planned value is the percentage of where the project should be at this time multiplied by the BA
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. In this example, EV = 40% of BAC = 300,000, and
PV = 50% of BAC = 375,000 SV = 300,000 – 375,000 = -75,000
Answer options C, B, and D are incorrect. These are not the correct values for the schedule
variance.
QUESTION 82

You are the project manager of the GHE Project. You have identified the following risks with the
characteristics as shown in the following figure:

Earned value management goals

C.
-$45,000
Planned value is the percentage of where the project should be at this time multiplied by the BA
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. In this example, EV = 40% of BAC = 300,000, and
PV = 50% of BAC = 375,000 SV = 300,000 – 375,000 = -75,000
Answer options C, B, and D are incorrect. These are not the correct values for the schedule
variance.
QUESTION 82

You are the project manager of the GHE Project. You have identified the following risks with the
characteristics as shown in the following figure:

Earned value management goals

A.
-$75,000
Communications bull’s eye

B.
-$42,000
Performance goals

C.
-$45,000
Planned value is the percentage of where the project should be at this time multiplied by the BA
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. In this example, EV = 40% of BAC = 300,000, and
PV = 50% of BAC = 375,000 SV = 300,000 – 375,000 = -75,000
Answer options C, B, and D are incorrect. These are not the correct values for the schedule
variance.
QUESTION 82

You are the project manager of the GHE Project. You have identified the following risks with the
characteristics as shown in the following figure:

Earned value management goals

D.
-$65,000
Project exception report

Explanation:
The schedule variance is found by subtracting the planned value from the earned value. The
earned value is the percentage of the project completeness multiplied by the BA

The graphic shown in the figure is a communications bull’s eye. The project manager must keep
the project within the boundaries defined by the bull’s eye or he will need to generate a
performance report. This is an example of management by exception because the project
manager only communicates with management when there is an exception, or variance, within the
project.
Answer options C, B, and D are incorrect. These are not valid terms for the communications bull’s
eye.