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PMP - Virtual Team Management - Trust Building
Intermediate
1/5
During the execution of a critical infrastructure project, the project manager notices that even though the actual costs are $800,000, the earned value is only $750,000, and the planned value is $820,000. What is the cost variance, and what does it signify about the project's financial health?
a.
The cost variance is $70,000, showing the project is both under budget and ahead of schedule.
b.
The cost variance is -$50,000, indicating the project is over budget.
c.
The cost variance is $50,000, suggesting the project is under budget.
d.
The cost variance is -$70,000, meaning the project is ahead of schedule but over budget.
Intermediate