Cost Management – Practice Questions

Q1: If EV is $550, AC is $650 and PV is $600, what would be the CV?
A. 50
B. -50
C. 100
D. -100

Q2: Which of the following is not a Tool and Technique for the process of Determine Budget?
A. Cost Aggregation
B. Resource Calendars
C. Funding Limit Reconciliation
D. Reserve Analysis

Q3: You are the Project Manager and in the process of midway review at the end of the first year of a $50,000 project. The earned value analysis shows that the PV is $25,000, the EV is $20,000 and the AC is $15,000. What can be determined from these figures?
A. The project is behind schedule and over budget
B. The project is ahead of schedule and under budget
C. The project is ahead of schedule and over budget
D. The project is behind schedule and under budget

Q4: The CPI of 0.73 means?
A. The project would cost 73% more than originally planned
B. The project would cost 27% more than originally planned
C. The project would cost 73% less than originally planned
D. The project is only getting $0.73 out of every $1 spent

Q5: The SPI of 0.67 means?
A. You are ahead of schedule by 33%
B. You are behind schedule by 67%
C. You are progressing at only 67% of the rate originally planned
D. You are progressing at only 33% of the rate originally planned

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Answers

Q1: D. -100
Q2: B. Resource Calendars
Q3: D. The project is behind schedule and under budget
Q4: D. The project is only getting $0.73 out of every $1 spent
Q5: C. You are progressing at only 67% of the rate originally planned

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