### Project management and construction engineering quizz: Cost Control

What does the acronym PV represent when conducting Earned Value Analysis?

* Prognosticated Value

* Project Value.

* Planned Value

* Programmed Value Find the synonymous of following terms from the second list

* Planned Value (PV)

* Budget Cost for Work Performed (BCWP)

* Actual Cost (AC)

* Estimate To Complete (ETC)

* Estimate At Completion (EAC)

* Actual Cost for Work Performed (ACWP)

* Budget At Completion (BAC)

* Earned Value (EV)

* Budgeted Cost for Work Scheduled (BCWS) Your schedule shows that you should be 50% complete with a project. The total cost of the project is planned to be $4 million. The actual cost (AC) of the work you have performed to date is $1.5 million.

* The budgeted cost for the work you have actually completed (EV) is $1 million.

* What is the cost variance for this project?

* $500,000

* $1 million

* -$500,000

* -$1 million Your schedule shows that you should be 50% complete with a project. The total cost of the project is planned to be $4 million. The actual cost (AC) of the work you have performed to date is $1.5 million.

* The budgeted cost for the work you have actually completed (EV) is $1 million.

* What is the schedule variance for this project?

* -$500,000

* -$1 million

* $1 million

* $500,000 Your schedule shows that you should be 50% complete with a project. The total cost of the project is planned to be $4 million. The actual cost (AC) of the work you have performed to date is $1.5 million.

* The budgeted cost for the work you have actually completed (EV) is $1 million.

* What is the status of this project?

* ahead of schedule; within budget

* cost overruns; ahead of schedule

* behind schedule: cost overruns

* within budget; behind schedule If BAC = $12,000 and CPI=1.2, then the variance at completion is:

* $3,000

* $2,000

* -$2,000

* -$3,000 If BAC for a work package is $10,000 and EV = $4,000 then the work package is:

* 80% complete

* 40% complete

* 120% complete

* 100% complete If CPI = 1.1 and SPI = 0.95, then the trend for the project is:

* running over budget but ahead of schedule

* running over budget but behind schedule

* running under budget but behind schedule

* running under budget but ahead of schedule If BAC = $24,000, EV = $12,000, AC = $10,000 and CPI = 1.2, then the cost that remains to finish the project is:

* cannot be determined

* $10,000

* $14,000

* $12,000 When a project is completed, which of the following must be true?

* AC=EV

* BAC=ETC

* BAC=AC

* SV=0

* Prognosticated Value

* Project Value.

* Planned Value

* Programmed Value Find the synonymous of following terms from the second list

* Planned Value (PV)

* Budget Cost for Work Performed (BCWP)

* Actual Cost (AC)

* Estimate To Complete (ETC)

* Estimate At Completion (EAC)

* Actual Cost for Work Performed (ACWP)

* Budget At Completion (BAC)

* Earned Value (EV)

* Budgeted Cost for Work Scheduled (BCWS) Your schedule shows that you should be 50% complete with a project. The total cost of the project is planned to be $4 million. The actual cost (AC) of the work you have performed to date is $1.5 million.

* The budgeted cost for the work you have actually completed (EV) is $1 million.

* What is the cost variance for this project?

* $500,000

* $1 million

* -$500,000

* -$1 million Your schedule shows that you should be 50% complete with a project. The total cost of the project is planned to be $4 million. The actual cost (AC) of the work you have performed to date is $1.5 million.

* The budgeted cost for the work you have actually completed (EV) is $1 million.

* What is the schedule variance for this project?

* -$500,000

* -$1 million

* $1 million

* $500,000 Your schedule shows that you should be 50% complete with a project. The total cost of the project is planned to be $4 million. The actual cost (AC) of the work you have performed to date is $1.5 million.

* The budgeted cost for the work you have actually completed (EV) is $1 million.

* What is the status of this project?

* ahead of schedule; within budget

* cost overruns; ahead of schedule

* behind schedule: cost overruns

* within budget; behind schedule If BAC = $12,000 and CPI=1.2, then the variance at completion is:

* $3,000

* $2,000

* -$2,000

* -$3,000 If BAC for a work package is $10,000 and EV = $4,000 then the work package is:

* 80% complete

* 40% complete

* 120% complete

* 100% complete If CPI = 1.1 and SPI = 0.95, then the trend for the project is:

* running over budget but ahead of schedule

* running over budget but behind schedule

* running under budget but behind schedule

* running under budget but ahead of schedule If BAC = $24,000, EV = $12,000, AC = $10,000 and CPI = 1.2, then the cost that remains to finish the project is:

* cannot be determined

* $10,000

* $14,000

* $12,000 When a project is completed, which of the following must be true?

* AC=EV

* BAC=ETC

* BAC=AC

* SV=0