Emily is managing a project with a planned value (PV) of $40,000 after four weeks. The earned value (EV) at the same point is $35,000. Based on this information, is the project ahead of schedule, behind schedule, or on schedule, and by how much?
To determine the project's schedule status, we calculate the schedule variance (SV) using the formula SV = EV - PV. Here, SV = $35,000 - $40,000 = -$5,000. A negative schedule variance indicates that the project is behind schedule by $5,000 because the earned value is less than the planned value at this point in time.
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What is Planned Value (PV) and how is it calculated?
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What is Earned Value (EV) and why is it important?
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What does a negative schedule variance (SV) indicate?
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CAPM
Predictive, Plan-Based Methodologies
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