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Schedule Variance (SV)

5 minutes 5 Questions

Schedule variance is a measure of schedule performance on a project. It is the algebraic difference between the earned value (EV) and the planned value (PV). SV = EV - PV. It helps determine if the project is ahead of schedule (SV > 0) or behind schedule (SV < 0). A positive schedule variance means…

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CAPM - Schedule Variance (SV) Example Questions

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Question 1

In a digital marketing project, the team has spent $21000 out of the $15000 budgeted, and the value of work done so far is calculated as $19000. How would the Schedule Variance look?

Correct Answer: $4000

To calculate the Schedule Variance (SV), we use the formula: SV = Earned Value (EV) - Planned Value (PV) Given: - The team has spent $21000 (Actual Cost or AC) - The budgeted amount is $15000 (Planned Value or PV) - The value of work done so far is $19000 (Earned Value or EV) Plugging in the values: SV = EV - PV SV = $19000 - $15000 SV = $4000

Question 2

Project A had an Earned Value (EV) of $30000 and a Planned Value (PV) of $35000, but the Actual Cost (AC) amounted to $40000. What will be the Schedule Variance?

Correct Answer: -$5000

o calculate the Schedule Variance (SV), we use the formula: SV = EV - PV Given: - Earned Value (EV) = $30000 - Planned Value (PV) = $35000 - Actual Cost (AC) = $40000 (not used in the SV calculation) Plugging in the values: SV = $30000 - $35000 = -$5000 Therefore, the Schedule Variance (SV) for Project A is -$5000.

Question 3

In a project to develop a new AI algorithm, the Planned Value (PV) is $100,000, and the Earned Value (EV) is $85,000. What is the Schedule Variance (SV)?

Correct Answer: -$15,000

The correct answer is -$15,000. To calculate the Schedule Variance (SV), we use the formula: SV = EV - PV Where: EV (Earned Value) = $85,000 PV (Planned Value) = $100,000 SV = $85,000 - $100,000 = -$15,000 The negative SV indicates that the project is behind schedule. This means the project has earned less value than what was planned at this point. The other options are incorrect: $15,000 is the opposite of the correct answer. -$185,000 is an incorrect calculation. 'Cannot be determined with the given information' is incorrect because we have all the necessary information to calculate SV.

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