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Sample Earned Value Question: Variance at Completion Percent

Staff

Math has always been a part of the PMP certification exam and we anticipate that will be no different with the upcoming new test on March 26th. Earned value presents more than a dozen formulas, actually, closer to two dozen by the time you manipulate some of the formulas to address some questions. Here is a rather straight forward sample question:

In reviewing earned value calculations, consider a project with planned duration of 200 hours. The data date is 50 hours. The authorized budget is 200,000 dollars. The anticipated value of work completed now is 50,000 dollars. The value of the work actually completed is 75,000 dollars. And total expenditures thus far are 60,000 dollars. What is the variance at completion percent using the cost performance index?

  • 40,000 dollars
  • 80 percent
  • -20 percent
  • 20 percent

 

Reveal the answer by selecting from here to the end of this paragraph: The correct answer is 20 percent. Variance at Completion Percent (VAC%) is the percentage of difference between the budget and estimated cost. In this question, using cost performance index, Variance at Completion Percent (VAC%) equals Variance at Completion divided by Budget at Completion (BAC). Thus, VAC% = VAC / BAC, 40,000 dollars / 200,000 dollars = 20 percent. THE END.

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