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


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