PMP (Project Management Professional) · Question
What is the 'Cost Variance (CV)' formula in Earned Value Management (EVM)?
Cost Variance (CV) measures the difference between earned value (EV) and actual cost (AC), indicating whether the project is under or over budget.
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Question: What is the 'Cost Variance (CV)' formula in Earned Value Management (EVM)?
Answer options: ✅ CV = EV - AC
- CV = EV - PV
- CV = AC - EV
- CV = PV - AC
Correct answer: CV = EV - AC
Explanation: Cost Variance (CV) measures the difference between earned value (EV) and actual cost (AC), indicating whether the project is under or over budget.
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- 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
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