If a project's Earned Value (EV) is reported as $750,000 and the Actual Cost (AC) incurred is $800,000, what is the Cost Variance (CV) for the project?
-$50,000
-$25,000
$750,000
$50,000
Cost Variance (CV) is calculated as CV = EV - AC. If the Earned Value (EV) is $750,000 and the Actual Cost (AC) is $800,000, then the Cost Variance (CV) would be $750,000 - $800,000, which equals -$50,000. This negative CV indicates that the project is over budget, as the costs incurred to achieve the earned value are higher than the value of the work performed.
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