Holly is the project manager of the NDS project and she is 85 percent complete with her project though she should be 95 percent complete. Her project has a BAC of $9,850,400 and she has spent $8,011,221 to date. What is Holly's schedule variance for this project?
Correct Answer: C
Explanation/Reference:
Explanation:
The schedule variance for a project can be found by subtracting the planned value from the earned value.
In this instance, it would be as follows:
SV = EV - PV
=(0.85*9,850,400) - (0.95*9,850,400)
= 8,372,840 - 9,357,880
=-985,040
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.
Incorrect Answers:
A: $163,626 is the variance at completion for this project.
B: $130,901 is the cost variance.
D: 0.16 is the difference between the schedule performance index of .84 and a perfect schedule.