PMP (Project Management Professional) · Question
A project manager discovers that the project's actual cost was significantly higher than planned for the work completed. This indicates a negative:
Cost Variance (CV) is calculated as Earned Value (EV) minus Actual Cost (AC). If AC is higher than EV, the CV will be negative, indicating a cost overrun.
Start free practice for PMP (Project Management Professional)
200 questions · no signup required · 40 free questions per day
Question: A project manager discovers that the project's actual cost was significantly higher than planned for the work completed. This indicates a negative:
Answer options: ✅ Cost Variance (CV)
- Schedule Variance (SV)
- Cost Performance Index (CPI)
- Schedule Performance Index (SPI)
Correct answer: Cost Variance (CV)
Explanation: Cost Variance (CV) is calculated as Earned Value (EV) minus Actual Cost (AC). If AC is higher than EV, the CV will be negative, indicating a cost overrun.
Start free practice for PMP (Project Management Professional)
200 questions · no signup required · 40 free questions per day
More about PMP (Project Management Professional)
Related Questions
- What is the primary output of the 'Direct and Manage Project Work' process?
- Which project management approach emphasizes frequent communication, self-organizing teams, and adapting to ch
- Which of the following is an output of the 'Develop Project Charter' process?
- Which type of risk response strategy involves shifting the impact of a threat along with ownership to a third
- In an agile project, who is primarily responsible for prioritizing the product backlog?
- Which tool or technique is used to determine the earliest and latest possible start and finish dates for proje
More for PMP (Project Management Professional) candidates
Question explanations
- What is the primary output of the 'Direct and Manage Project Work' process?
- Which project management approach emphasizes frequent communication, self-organizing teams, and adapting to ch
- Which of the following is an output of the 'Develop Project Charter' process?
- Which type of risk response strategy involves shifting the impact of a threat along with ownership to a third
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free PMP (Project Management Professional) Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.